Data Analytics for Non-Life Insurance Pricing
228 Pages Posted: 17 Nov 2016 Last revised: 28 Oct 2017
Date Written: October 25, 2017
These notes aim at giving a broad skill set to the actuarial profession in non-life insurance pricing and data science. We start from the classical world of generalized linear models, generalized additive models and credibility theory. These methods form the basis of the deeper statistical understanding. We then present several machine learning techniques such as regression trees, bagging, random forest, boosting machines, neural networks and support vector machines. Finally, we provide methodologies for analysing telematics car driving data from unsupervised learning.
Keywords: non-life insurance pricing, car insurance pricing, generalized linear models, generalized additive models, credibility theory, neural networks, regression trees, CART, bootstrap, bagging, random forest, boosting, support vector machines, telematic data, data science, machine learning, data analytics
JEL Classification: G22, G28
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