scholarly journals An Integrated System for Estimating the Risk Premium of Individual Car Models in Motor Insurance

1986 ◽  
Vol 16 (2) ◽  
pp. 165-183 ◽  
Author(s):  
Malcolm Campbell
Keyword(s):  
Cluster Analysis ◽  
Risk Premium ◽  
Integrated System ◽  
Credibility Theory ◽  
Car Model ◽  
Motor Insurance ◽  
Small Set ◽  
Technical Assessment ◽  
Estimation Of Risk

AbstractThe estimation of risk premium for individual car models is discussed. Cluster analysis is used to identify groups of car models with similar technical attributes. Credibility theory is used to combine estimates of risk premium from individual car model claim statistics, group claim statistics, and a technical assessment carried out by car experts. The procedure is applied to a small set of car models.

Computing the Risk Indicators in Fuzzy Systems

2012 ◽  
Vol 5 (4) ◽  
pp. 63-84 ◽  
Author(s):  
Irina Georgescu
Keyword(s):  
Risk Aversion ◽  
Risk Premium ◽  
Stochastic Dominance ◽  
Probabilistic Models ◽  
Fuzzy Variable ◽  
Risk Indicators ◽  
Credibility Theory ◽  
Fuzzy Variables ◽  
Risk Situation ◽  
Definition Of

The modeling of complex risk situations imposes the existence of multiple ways to represent the risk and compare the risk situations between them. In probabilistic models, risk is described by random variables and risk situations are compared by stochastic dominance. In possibilistic or credibilistic models, risk is represented by fuzzy variables. This paper concerns three indicators of dominance associated with fuzzy variables. This allows the definition of three notions of fuzzy dominance: dominance in possibility, dominance in necessity and dominance in credibility. These three types of dominance are possibilistic and credibilistic versions of stochastic dominance. Each type offers a modality of ranking risk situations modeled by fuzzy variables. In the paper some properties of the three indicators of dominance are proved and relations between the three types of fuzzy dominance are established. For triangular fuzzy numbers formulas for the computation of these indicators are obtained. The paper also contains a contribution on a theory of risk aversion in the context of credibility theory. Using the credibilistic expected utility a notion of risk premium is defined as a measure of risk aversion of an agent in front of a risk situation described by a fuzzy variable and an approximate calculation formula of this indicator is proved.

On-Line Industrial 3D Measurement Techniques for Large Volume Objects

2005 ◽  
Vol 295-296 ◽  
pp. 423-430 ◽  
Author(s):  
Ji Gui Zhu ◽  
S.H. Ye ◽  
Xue You Yang ◽  
Xing Hua Qu ◽  
C.J. Liu ◽  
...  
Keyword(s):  
Large Volume ◽  
Measurement Techniques ◽  
Integrated System ◽  
3D Measurement ◽  
Digital Cameras ◽  
Combined Use ◽  
Small Set ◽  
Close Range ◽  
On Line ◽  
Set Up

Rapid progress in modern manufacturing demands for better measurement technique with on-line characteristics. This paper presents a systematic visual solution for on-line industrial 3D measurement. The solution comprises two parts, a multi-sensor visual inspecting station (MSVIS) and a digital close-range visual inspecting station (DCVIS). MSVIS is an integrated system with many sensors. It can meet the requirement of application with sparse measuring points distributed within a large volume. DCVIS only contains two digital cameras with one or more projectors. It has high relative accuracy and a small set up volume and is suitable for applications with dense measuring points. The combined use of MSVIS and DCVIS can provide a general solution for on-line industrial 3D measurement.

Performing DFM Analysis in Multiple Domains Using Interchangeable Manufacturable Entities

1997 ◽  
Author(s):  
Subramanian Krishnan ◽  
Edward B. Magrab
Keyword(s):  
Manufacturing Process ◽  
Feature Recognition ◽  
Integrated Design ◽  
Integrated System ◽  
New Approach ◽  
Small Set ◽  
Multiple Domains ◽  
Shape Characteristics ◽  
Manufacturability Evaluation ◽  
Made In

Abstract An integrated design for manufacture system that performs manufacturability analysis simultaneously in two domains using interchangeable process specific entities is presented. This new approach is illustrated by an integrated system that creates and evaluates parts for manufacture by injection molding using a C-entity, and simultaneously creates and evaluates its mold for manufacture by milling using the fundamental manufacturing entity for milling. The entity for the part manufacturing process is chosen as the complement of the entity for the mold manufacturing process. This obviates the need for converting features from one manufacturing domain to another, and also permits a single uniform data structure to capture the shape characteristics of parts made in the two manufacturing domains. Since all the shapes are represented in the same way, the manufacturability evaluation of the part and the mold is reduced to a small set of algorithms based on an evaluation of the entity’s profile. It is demonstrated that by using process specific entities one can perform manufacturability evaluation of a part without either feature extraction or designing with features. The advantages of using the process specific entities approach for design and manufacturability evaluation over the feature recognition and the design by features approach are enumerated.

scholarly journals Barriers of implementation of environmental management accounting in business practice

2010 ◽  
Vol 58 (3) ◽  
pp. 145-156
Author(s):  
Petra Mísařová
Keyword(s):  
Environmental Management ◽  
Cluster Analysis ◽  
Information System ◽  
Management Accounting ◽  
Environmental Accounting ◽  
Integrated System ◽  
Environmental Costs ◽  
Financial Flows ◽  
Wide Range ◽  
Environmental Management Accounting

Environmental management accounting is a very important source of information for decision-making management of the company. In many companies there were created a detailed and dynamic system of recording and processing of data on environmental costs that companies mistakenly issued for environmental management accounting. And also today for environmental accounting in the CR it is characteristic that in organizations is not normal monitoring of the environmental costs con­si­de­red as part of an integrated system for monitoring and evaluation of material, energy and financial flows. Companies do not use a wide range of options that the environmental management accounting provides. Why do not companies introduce environmental management accounting into its information system and do not use all the opportunities that EMA provides? In practice there are many barriers that prevent full-fledged process of implementation of environmental management accounting in the information system of companies. Many barriers were identified and were therefore subjected to cluster analysis. Clusters filled by identified barriers under the rules of cluster analysis are the result of cluster analysis.

scholarly journals PENERAPAN METODE BAYES DALAM MENGESTIMASI PREMI RISIKO PADA ASURANSI PENYAKIT KRITIS

2020 ◽  
Vol 9 (4) ◽  
pp. 251
Author(s):  
SISILIA MARTINA UTAMI AGUSTINI ◽  
I NYOMAN WIDANA ◽  
NI KETUT TARI TASTRAWATI
Keyword(s):  
Critical Illness ◽  
Risk Premium ◽  
Empirical Bayes ◽  
Claim Data ◽  
Credibility Theory ◽  
Insurance Company ◽  
Age Group ◽  
Processing Data ◽  
Calculation Results ◽  
And Gender

The high number of critical illness cases and the rising medical cost affect the number of insurance claimed. It can be a problem for the insurance company in estimating future claim trend to decide the risk premium cost, so that we need a method to solve the problem which is called Empirical Bayes Credibility Theory (EBCT). Based on that information, the goal of this research is estimating the risk premium cost for critical illness cases using EBCT method. In this research, a large simulation of the expected claim data of critical illness policyholders is used, which are grouped by age and gender. In processing data by applying the EBCT method, the credibility factor is determined first, then the size of the risk premium can be estimated, with the calculation results obtained by a different estimate of the risk premium for each age group based on gender.

scholarly journals The Estimation of Risk-premium Implicit in Oil Prices

OPEC Review ◽  
2001 ◽  
Vol 25 (3) ◽  
pp. 221-259 ◽  
Author(s):  
Jorge Barros Luis
Keyword(s):  
Risk Premium ◽  
Oil Prices ◽  
Estimation Of Risk

scholarly journals Calculation of Provisions Using Credibility Theory

1974 ◽  
Vol 7 (3) ◽  
pp. 277-292
Author(s):  
M. A. Pereira Cabral ◽  
J. M. Afonso Garcia
Keyword(s):  
A Priori ◽  
Credibility Theory ◽  
Insurance Companies ◽  
A Posteriori ◽  
Fundamental Step ◽  
Actual Risk ◽  
Motor Insurance ◽  
Degree Of Risk

The increasing difficulties facing the insurer when he measures certain risks and fundamentaly when that measurement has to be carried out “a priori” are not easily overcome. Thus, the greater part of the insurance companies still use in numerous branches subjective methods of assessing a risk, which unfortunately do not lead to the best results. Especially in certain risks with undefined characteristics, the problem becomes more accentuated to the point of being practically impossible to class risks whose behaviour would be homogeneous.For example we can analyse the numerous problems of this nature arising in the motor insurance in all countries in assessing the combined risk motor-car and driver.Numerous solutions have been proposed and amongst them a system of premiums adapted to the actual risk and very especially the credibility premiums represent a fundamental step in the evaluation of these types of risks, for they have an advantage of at least as experience increases assuming an authentic measurement “a posteriori” of the true degree of risk which they cover.

scholarly journals Estimation in the Pareto Distribution

1990 ◽  
Vol 20 (2) ◽  
pp. 201-216 ◽  
Author(s):  
Mette Rytgaard
Keyword(s):  
Maximum Likelihood ◽  
Maximum Likelihood Estimator ◽  
Risk Premium ◽  
Unbiased Estimator ◽  
Minimum Variance ◽  
Credibility Theory ◽  
Likelihood Estimator ◽  
Minimum Variance Unbiased Estimator ◽  
The Moment ◽  
Alternative Estimator

AbstractIn the present paper, different estimators of the Pareto parameter α will be proposed and compared to each others.First traditional estimators of α as the maximum likelihood estimator and the moment estimator will be deduced and their statistical properties will be analyzed. It is shown that the maximum likelihood estimator is biased but it can easily be modified to an minimum-variance unbiased estimator of a. But still the coefficient of variance of this estimator is very large.For similar portfolios containing same types of risks we will expect the estimated α-values to be at the same level. Therefore, credibility theory is used to obtain an alternative estimator of α which will be more stable and less sensitive to random fluctuations in the observed losses.Finally, an estimator of the risk premium for an unlimited excess of loss cover will be proposed. It is shown that this estimator is a minimum-variance unbiased estimator of the risk premium. This estimator of the risk premium will be compared to the more traditional methods of calculating the risk premium.

FR-IR Molecular Microanalysis System

1990 ◽  
Vol 48 (2) ◽  
pp. 270-271
Author(s):  
John A. Reffner ◽  
William T. Wihlborg
Keyword(s):  
Fourier Transform ◽  
Fourier Transform Infrared ◽  
Integrated System ◽  
Morphological Examination ◽  
Fully Integrated ◽  
Ir Microscopy ◽  
Normal Functions ◽  
Infrared Microspectroscopy ◽  
Infrared Spectral ◽  
Ft Ir

The IRμs™ is the first fully integrated system for Fourier transform infrared (FT-IR) microscopy. FT-IR microscopy combines light microscopy for morphological examination with infrared spectroscopy for chemical identification of microscopic samples or domains. Because the IRμs system is a new tool for molecular microanalysis, its optical, mechanical and system design are described to illustrate the state of development of molecular microanalysis. Applications of infrared microspectroscopy are reviewed by Messerschmidt and Harthcock.Infrared spectral analysis of microscopic samples is not a new idea, it dates back to 1949, with the first commercial instrument being offered by Perkin-Elmer Co. Inc. in 1953. These early efforts showed promise but failed the test of practically. It was not until the advances in computer science were applied did infrared microspectroscopy emerge as a useful technique. Microscopes designed as accessories for Fourier transform infrared spectrometers have been commercially available since 1983. These accessory microscopes provide the best means for analytical spectroscopists to analyze microscopic samples, while not interfering with the FT-IR spectrometer’s normal functions.

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