Title :
Some Bounds of Outstanding Claims Reserve Distribution by the IFR
Author :
Yan, Liu ; Guangjun, Zai
Author_Institution :
Sch. of Math., ZhengZhou Univ., Zhengzhou, China
Abstract :
This paper studies the Outstanding Claims Reserve(OCR) distribution function by establishing their queuing models. When the claim distribution is IFR class, we obtain some useful upper bounds and lower bounds of OCR by the mean and variance of the claim. Furthermore, we also give an example to analyze the approximate effect of these bounds.
Keywords :
insurance; queueing theory; IBNR claim; IFR class; OCR distribution function; increasing failure rate class; incurred but-not reported claim; insurance company; outstanding claims reserve; queuing model; Companies; Distribution functions; Electronic mail; Information systems; Insurance; Investments; Mathematical model; Mathematics; Optical character recognition software; Upper bound; Outstanding claims reserve; distribution class; queueing model;
Conference_Titel :
Industrial and Information Systems, 2009. IIS '09. International Conference on
Conference_Location :
Haikou
Print_ISBN :
978-0-7695-3618-7
DOI :
10.1109/IIS.2009.65
