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Lectures on Insurance Models By S. Ramasubramanian
English | PDF | 2009 | 212 Pages | ISBN : 8185931933 | 19.17 MB
This introductory book is an expanded version of aseries of lec- tures given during the academic year 2006-2007 at the Department of Mathematics, Indian Institute of Science (I.I.Sc.), Bangalore, organized by IISc Mathematics Initiative. The audience consisted of students/ faculty with background in mathematics, statistics or engineering. Our objective is to introduce the basic mathematical concepts of insurance models. To maintain a reasonable length, we consider only models from collective risk theory (also called non-life insurance). The language of continuous time stochastic processes is the right medium to mathematically formulate these models. So Poisson process, more general renewal processes and later stochastic differential equations will be encountered in the sequel. As the so called heavy-tailed distribu- tions have become increasingly important in insurance, tail behaviour of probability distributions on the positive realline is also studied at some length. Nothing is new in the book, except perhaps parts of Chapter 6 and some details of presentation.



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