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Safety Instructor Insurance Application Oasis Insurance  Form

Safety Instructor Insurance Application Oasis Insurance Form

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this video illustrates a model of Uncertain insurance claims the insurance company has three types of claims automobile general liability and workers comp it wants to estimate the distribution of next year's total claim amounts in each of these categories as well as the total overall categories to do this it must estimate the number of claims of each type and the typical claim amount of each type the company has the historical CL claim data shown here the upper section lists the number of claims of each type for the past 20 years several summary measures appear to the right of the data for example each year had between 839 and 1219 autoc claims based on only 20 data points for each claim category it is difficult to find an accurate estimate of the distribution of the number of claims in a given year so the model will assume that the number of claims for each type in the next year is uniformly distributed between the minimum and maximum values observed for that type also because

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