Introduction Hello readers! This article is about computation of cattle insurance premium for financial losses of farmers due to Tiger attacks in the Corbett Reserve National Park. These types of calculations are basic for an insurance company to price the … Read More
This article is about estimating the empirical one step and multi-step transition probabilities using Markov Chain and to build a rewards program for a large airline based on the travel miles. This article will give you an insight on the applications of Markov chain and how it is used in the real life to solve the real business problems using R.
This article is about creating the excel add-in to build various actuarial functions like calculating the expected present value of benefit payable under Assurance and Annuity contracts. These are the very basic calculations that every insurance company do to calculate the expected claim amount that need to be paid to the policyholders.