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Models

Claims Payout Modelling

This example models different types of insurance claims from different lines of business and sums them in order to calculate an estimated total claims paid out for the next year. It incorporates @RISK distribution fitting to define distribution functions for claim amounts, and illustrates the use of correlations to describe relationships between different types of claims. The RiskCompound function is used to combine frequency and severity of claims, simplifying the model.

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