A comparison of risk classification methods for claim severity data

Noriszura Ismail, Abdul Aziz Jemain

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

The objective of this article is to compare several risk classification methods for claim severity data by using weighted equation which is written as a weighted difference between the observed and fitted values. The weighted equation will be applied to estimate claim severities which is equivalent to the total claim costs divided by the number of claims.

Original languageEnglish
Pages (from-to)513-528
Number of pages16
JournalJournal of Modern Applied Statistical Methods
Volume5
Issue number2
Publication statusPublished - Nov 2006

Fingerprint

Severity
Risk classification
Costs
Estimate

Keywords

  • Claim cost
  • Claim severity
  • Risk classification

ASJC Scopus subject areas

  • Statistics, Probability and Uncertainty
  • Statistics and Probability

Cite this

A comparison of risk classification methods for claim severity data. / Ismail, Noriszura; Jemain, Abdul Aziz.

In: Journal of Modern Applied Statistical Methods, Vol. 5, No. 2, 11.2006, p. 513-528.

Research output: Contribution to journalArticle

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