Miljkovic, Tatjana; Fernández, Daniel - In: Risks : open access journal 6 (2018) 2, pp. 1-18
We review two complementary mixture-based clustering approaches for modeling unobserved heterogeneity in an insurance portfolio: the generalized linear mixed cluster-weighted model (CWM) and mixture-based clustering for an ordered stereotype model (OSM). The latter is for modeling of ordinal...