Skip to main content
Top

10-07-2024

Analyzing Insurance Data with an Alpha Power Transformed Exponential Poisson Model

Authors: Mohammed A. Meraou, Mohammad Z. Raqab, Fatmah B. Almathkour

Published in: Annals of Data Science

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

In this paper, we propose a new model by adding an additional parameter to the baseline distributions for modeling claim and risk data used in actuarial and financial studies. The new model is called alpha power transformed exponential Poisson model. It has three parameters and its probability density function can be skewed and unimodal. Several distributional properties of the proposed model such as reliability, hazard rate, quantile and moments are established. Estimation of the unknown parameters based on maximum likelihood estimation are derived and risk measures such as value at risk and tail value at risk are computed. Moreover, the performance of these measures is illustrated via numerical simulation experiments. Finally, two real data sets of insurance losses are analyzed to check the potential of the proposed model among some of the existing models.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Literature
1.
go back to reference Shi Y (2022) Advances in big data analytics: theory, algorithm and practice. Springer, SingaporeCrossRef Shi Y (2022) Advances in big data analytics: theory, algorithm and practice. Springer, SingaporeCrossRef
2.
go back to reference Olson DL, Shi Y (2007) Introduction to business data mining. McGraw-Hill/Irwin, New York Olson DL, Shi Y (2007) Introduction to business data mining. McGraw-Hill/Irwin, New York
4.
go back to reference Shi Y, Tian YJ, Kou G, Peng Y, Li JP (2011) Optimization based data mining: theory and applications. Springer, BerlinCrossRef Shi Y, Tian YJ, Kou G, Peng Y, Li JP (2011) Optimization based data mining: theory and applications. Springer, BerlinCrossRef
Metadata
Title
Analyzing Insurance Data with an Alpha Power Transformed Exponential Poisson Model
Authors
Mohammed A. Meraou
Mohammad Z. Raqab
Fatmah B. Almathkour
Publication date
10-07-2024
Publisher
Springer Berlin Heidelberg
Published in
Annals of Data Science
Print ISSN: 2198-5804
Electronic ISSN: 2198-5812
DOI
https://doi.org/10.1007/s40745-024-00554-z

Premium Partner