Pricing in General Insurance

Content: Preface    Acknowledgements    Introductory Concepts    The Pricing Process - A Gentle Start    Insurance and Reinsurance Products    The Policy Structure    The Insurance Markets    The Business Context: Things That Affect Insurance Pricing    The Basic Pricing Process    The Scientific Basis: Risk Loss Models and the Frequency/Severity Risk Costing Process    Familiarise with the Risk    Data Requirements for Pricing    Setting the Inflation Assumptions    Data Preparation    Burning Cost Analysis    What Is This Thing Called Modelling?    Adjusting for IBNR    Frequency Analysis    Adjusting for IBNER    Severity Analysis    Aggregate Loss Modelling    Identifying, Measuring and Communicating Uncertainty    Determining the Premium    Elements of Specialist Pricing    Experience Rating for Non-Proportional Reinsurance    Exposure Rating for Property    Liability Rating Using Increased Limit Factor Curves    Pricing Considerations for Specific Lines of Business    Professional Indemnity    Weather Risk    Credit Risk    Extended Warranty    Miscellaneous    Catastrophe Modelling    Advanced Pricing Methods    Credibility Theory    Rating Factors Selection and Generalised Linear Modelling    Multi-Level Factors and Smoothing    Pricing Correlated Lines of Business    Insurance Structure Optimisation    References