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Heavy tailed modeling of automobile claim data from Ghana. (English) Zbl 1478.62313

Summary: Africa has long been ignored with respect to among others insurance modeling. In this paper, we propose a model for automobile claim data from Ghana. The body of the data are modeled by a lognormal distribution. However, the tail is noted be too heavy to be modeled by a single heavy tailed distribution. A mixture of distributions is used to model the tail. Estimates of risk are given.

MSC:

62P05 Applications of statistics to actuarial sciences and financial mathematics

Software:

R; CompLognormal
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References:

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