TY  - JOUR
T1  - SOME COMPOSITE MODELS AND THEIR APPLICATION TO TURKISH MOTOR INSURANCE DATA
TT  - SOME COMPOSITE MODELS AND THEIR APPLICATION TO TURKISH MOTOR INSURANCE DATA
AU  - Gençtürk, Yasemin
AU  - Yiğiter, Ayten
AU  - Hamurkaroğlu, Canan
PY  - 2019
DA  - August
DO  - 10.20290/estubtdb.609469
JF  - Eskişehir Teknik Üniversitesi Bilim ve Teknoloji Dergisi B - Teorik Bilimler
JO  - Estuscience - Theory
PB  - Eskişehir Teknik Üniversitesi
WT  - DergiPark
SN  - 2667-419X
SP  - 121
EP  - 132
VL  - 7
IS  - 2
LA  - en
AB  - It is important for aninsurance company to predict the future claims in order to evaluate premiums,to determine the reserve necessary to meet its obligation and probabilities ofruin, etc. as the claim data is highly positively skewed and has heavy tail, nostandard parametric model seems to provide an acceptable fit to both small andlarge losses. Composite models that use one standard distribution up to athreshold and other standard distribution thereafter are developed and it is seenthat these composite models provide better fit than the standard models whenclaim data involve small and high claims.  The aim of this study is toinvestigate the use of the composite models namely Exponential-Pareto,Weibull-Pareto and Lognormal-Pareto to model the Turkish Motor Insurance claimdata. From the results obtained, it is concluded that the compositeWeibull-Pareto model provides better fit to Turkish Motor Insurance claim datathan the all other models considered.
KW  - Composite models
KW  - Standard parametric models
KW  - Turkish motor insurance loss data
N2  - It is important for aninsurance company to predict the future claims in order to evaluate premiums,to determine the reserve necessary to meet its obligation and probabilities ofruin, etc. as the claim data is highly positively skewed and has heavy tail, nostandard parametric model seems to provide an acceptable fit to both small andlarge losses. Composite models that use one standard distribution up to athreshold and other standard distribution thereafter are developed and it is seenthat these composite models provide better fit than the standard models whenclaim data involve small and high claims.  The aim of this study is toinvestigate the use of the composite models namely Exponential-Pareto,Weibull-Pareto and Lognormal-Pareto to model the Turkish Motor Insurance claimdata. From the results obtained, it is concluded that the compositeWeibull-Pareto model provides better fit to Turkish Motor Insurance claim datathan the all other models considered.
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UR  - https://doi.org/10.20290/estubtdb.609469
L1  - https://dergipark.org.tr/tr/download/article-file/943777
ER  -