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According to Jacqueline Friedland's "Estimating Unpaid Claims Using Basic Techniques," there are seven steps to apply the chain-ladder technique: Compile claims data in a development triangle; Calculate age-to-age factors; Calculate averages of the age-to-age factors; Select claim development factors; Select tail factor
A ternary flammability diagram, showing which mixtures of methane, oxygen gas, and inert nitrogen gas will burn. A ternary plot, ternary graph, triangle plot, simplex plot, or Gibbs triangle is a barycentric plot on three variables which sum to a constant. [1] It graphically depicts the ratios of the three variables as positions in an ...
Loss reserving is the calculation of the required reserves for a tranche of insurance business, [1] including outstanding claims reserves.. Typically, the claims reserves represent the money which should be held by the insurer so as to be able to meet all future claims arising from policies currently in force and policies written in the past.
A claim chart is a widely used device in patent infringement litigation. [1] It is a convenient and effective means for analyzing and presenting information regarding a patent claim .
For example, connectedness of zones might be enforced, or concurrency of curves or multiple points might be banned, as might tangential intersection of curves. In the adjacent diagram, examples of small Venn diagrams are transformed into Euler diagrams by sequences of transformations; some of the intermediate diagrams have concurrency of curves.
Diagrams with loops (in graph theory, these kinds of loops are called cycles, while the word loop is an edge connecting a vertex with itself) correspond to the quantum corrections to the classical field theory. Because one-loop diagrams only contain one cycle, they express the next-to-classical contributions called the semiclassical contributions.
Such diagrams are available in the speciality literature. [1] [2] [3] The same information can be depicted in a normal orthogonal diagram, showing only two substances, implicitly using the feature that the sum of all three components is 100 percent. The diagrams below only concerns one fuel; the diagrams can be generalized to mixtures of fuels.
In actuarial science and applied probability, ruin theory (sometimes risk theory [1] or collective risk theory) uses mathematical models to describe an insurer's vulnerability to insolvency/ruin. In such models key quantities of interest are the probability of ruin, distribution of surplus immediately prior to ruin and deficit at time of ruin.