
Based on the syllabus of the actuarial industry course on general insurance pricing
- with additional material inspired by the author's own experience as a practitioner & lecturer
- Pricing in General Insurance presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk & ends with a commercially informed rate The main strength of this approach is that it imposes a reasonably linear narrative on the material & allows the reader to see pricing as a story & go back to the big picture at any time putting things into context Written with both the student & the practicing actuary in mind this pragmatic textbook & professional reference Complements the standard pricing methods with a description of techniques devised for pricing specific products (eg non-proportional reinsurance & property insurance) Discusses methods applied in personal lines when there is a large amount of data & policyholders can be charged depending on many rating factors Addresses related topics such as how to measure uncertainty incorporate external information model dependency & optimize the insurance structure Provides case studies worked-out examples exercises inspired by past exam questions & step-by-step methods for dealing concretely with specific situations Pricing in General Insurance delivers a practical introduction to all aspects of general insurance pricing covering data preparation frequency analysis severity analysis Monte Carlo simulation for the calculation of aggregate losses burning cost analysis & more