The aim of this paper is to expand on recent contributions in the field of risk modelling for non-life insurance companies by modelling insurance risk in a multi-year context. Academic literature on non-life insurance risk to date has only considered an ultimo perspective (using traditional...

We present the one-year claims development result (CDR) in the paid-incurred chain (PIC) reserving model. The PIC reserving model presented in Merz and Wüthrich (2010) is a Bayesian stochastic claims reserving model that considers simultaneously claims payments and incurred losses information...

We consider a large, homogeneous portfolio of life or disability annuity policies. The policies are assumed to be independent conditional on an external stochastic process representing the economic–demographic environment. Using a conditional law of large numbers, we establish the connection...

The present paper provides a unifying survey of Bayesian models in different areas of actuarial mathematics. Bayesian models are discussed with regard to claim number processes, experience rating, and experience reserving. Most models are parametric, but experience rating is also considered in...

The present paper provides a unifying survey of Bayesian models in different areas of actuarial mathematics. Bayesian models are discussed with regard to claim number processes, experience rating, and experience reserving. Most models are parametric, but experience rating is also considered in...

Decision analysis produces measures of value such as expected net present values or expected utilities and ranks alternatives by these value estimates. Other optimization-based processes operate in a similar manner. With uncertainty and limited resources, an analysis is never perfect, so these...

In the past decade, ontologies have been widely used in the field of e-learning in order to create a semantic representation of knowledge and to provide a uniform structure to the course material. In order to provide a semantic representation of knowledge, this paper delineates a framework that...

Quick Response (QR) is a movement in the apparel industry to shorten lead time. Under QR, the retailer has the ability to adjust orders based on better demand information. We study how a manufacturer-retailer channel impacts choices of production and marketing variables under QR in the apparel...

Rising levels of advertising competition have made it increasingly difficult to attract and hold consumers' attention and to establish strong memory traces for the advertised brand. A common communication strategy to break through this competitive clutter is to increase ad originality. However,...

Statistical procedures for missing data have improved significantly in the last years. This study put the missing data in context and makes a revision of the recent literature for the case that the missing data problem is ignorable. In an application, based in real data of a psychographic...