Models
It is important for an insurance company to estimate the amount of claims it will incur in a given year. Here you will find a set of examples to model this problem:
1. A deterministic model to get started.
2. A na•ve @RISK model that fails to capture all the uncertainty in total claims.
3. A better version using the RiskCompound function to capture all of the uncertainty in total claims.
4. A version using the method of resampling to simulate the numbers of claims each year.
Click here to see a video of this example.
