Title :
Actuarial risk modeling using Bayesian approach
Author :
Bidiuk, P. ; Gasanov, A. ; Kozhukhivska, O.
Author_Institution :
Inst. for Appl. Syst. Anal., KTUU Kiev Polytech. Inst., Kiev, Ukraine
Abstract :
The problem of correct analysis and mathematical description of financial risks is considered; some uncertainties relevant to the risks analysis are highlighted, and an example is given for the financial process model construction in the form of prognostic distribution. The data used characterize the payment flow within a five year period for a chosen insurance company.
Keywords :
Bayes methods; financial management; insurance; risk analysis; Bayesian approach; actuarial risk modeling; correct analysis; financial process model construction; financial risks; insurance company; mathematical description; payment flow; prognostic distribution; risks analysis; Bayesian approach; actual data; actuarial models; financial risks; forecasting distribution; mathematical modeling;
Conference_Titel :
Problems of Cybernetics and Informatics (PCI), 2012 IV International Conference
Conference_Location :
Baku
Print_ISBN :
978-1-4673-4500-2
DOI :
10.1109/ICPCI.2012.6486481
