PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR
The present paper describes a series of parametric distributions used for modeling non-life insurance payments data.Of those listed, special attention is paid to the transformed Beta distribution family.This distribution as well as those which are obtained from it(special cases of four-parameter tra...
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| Language: | English |
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Nicolae Titulescu University
2013-11-01
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| Series: | Global Economic Observer |
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| Online Access: | http://www.globeco.ro/wp-content/uploads/vol/split/vol_1_no_2/geo_2013_vol1_no2_art_012.pdf |
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| author | Sandra Teodorescu |
| author_facet | Sandra Teodorescu |
| author_sort | Sandra Teodorescu |
| collection | DOAJ |
| description | The present paper describes a series of parametric distributions used for modeling non-life insurance payments data.Of those listed, special attention is paid to the transformed Beta distribution family.This distribution as well as those which are obtained from it(special cases of four-parameter transformed Beta distribution) are used in the modeling of high costs, or even extreme ones.In the literature it follows the tail behaviour of distributions depending on the parameters, because the insurance payments data are tipically highly positively skewed and distributed with large upper tails.In the paper is described the tail behavior of the distribution in the left and right side respectively, and deduced from it, a general case.There are also some graphs of probability density function for one of the transformed Beta family members, which comes to reinforce the comments made. |
| format | Article |
| id | doaj-art-7c22d779b1c34fc48a611b3cd94f7d3d |
| institution | DOAJ |
| issn | 2343-9742 2343-9750 |
| language | English |
| publishDate | 2013-11-01 |
| publisher | Nicolae Titulescu University |
| record_format | Article |
| series | Global Economic Observer |
| spelling | doaj-art-7c22d779b1c34fc48a611b3cd94f7d3d2025-08-20T03:03:12ZengNicolae Titulescu UniversityGlobal Economic Observer2343-97422343-97502013-11-0112104111PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOURSandra TeodorescuThe present paper describes a series of parametric distributions used for modeling non-life insurance payments data.Of those listed, special attention is paid to the transformed Beta distribution family.This distribution as well as those which are obtained from it(special cases of four-parameter transformed Beta distribution) are used in the modeling of high costs, or even extreme ones.In the literature it follows the tail behaviour of distributions depending on the parameters, because the insurance payments data are tipically highly positively skewed and distributed with large upper tails.In the paper is described the tail behavior of the distribution in the left and right side respectively, and deduced from it, a general case.There are also some graphs of probability density function for one of the transformed Beta family members, which comes to reinforce the comments made.http://www.globeco.ro/wp-content/uploads/vol/split/vol_1_no_2/geo_2013_vol1_no2_art_012.pdfnon - life insurance payments dataactuaryparametric distributiontransformed Beta distributiontail distribution behaviour |
| spellingShingle | Sandra Teodorescu PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR Global Economic Observer non - life insurance payments data actuary parametric distribution transformed Beta distribution tail distribution behaviour |
| title | PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR |
| title_full | PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR |
| title_fullStr | PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR |
| title_full_unstemmed | PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR |
| title_short | PARAMETRIC DISTRIBUTION FAMILIES USEFUL FOR MODELLING NON - LIFE INSURANCE PAYMENTS DATA. TAIL BEHAVIOUR |
| title_sort | parametric distribution families useful for modelling non life insurance payments data tail behaviour |
| topic | non - life insurance payments data actuary parametric distribution transformed Beta distribution tail distribution behaviour |
| url | http://www.globeco.ro/wp-content/uploads/vol/split/vol_1_no_2/geo_2013_vol1_no2_art_012.pdf |
| work_keys_str_mv | AT sandrateodorescu parametricdistributionfamiliesusefulformodellingnonlifeinsurancepaymentsdatatailbehaviour |