Generalized Linear Models For Insurance Data

This is the only book actuaries will need to understand generalized linear models (GLMs) for insurance applications. GLMs are used in the insurance industry to support critical decisions. Amazingly, no text introduces GLMs in this context or addresses the problems specific to insurance data. Until now. Using insurance data sets, this practical, rigorous book treats GLMs, covers all standard exponential family distributions, extends the methodology to correlated data structures,and discusses recent developments which go beyond the GLM. The focus is on issues which are specific to insurance data, such as model selection in the presence of large data sets and the handling of varying exposure times. Exercises and data-based practicals help readers to consolidate their skills, with solutions and data sets given on the companion website. Although the book is package-independent, SAS code and output examples feature in an appendix and on the website.