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Old 08-20-2018, 04:36 PM
FutureActuary01 FutureActuary01 is offline
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Default Statistical Analysis Techniques - Loss Experience

Hi Everyone!

Iím interested in your recommendations regarding a Personal Lines (Auto) question.

Question: When Iím analyzing loss experience in a particular state, I would like to know what segments in our book are driving the losses. What statistical methods, research, and any books do you recommend that will set me on the course to being able to adequately and confidently answer this question?

Ideally, I want to be able to have a thorough understanding of better techniques to achieve this answer because my knowledge of a lot of the statistical methods out there that might answer this is incredibly limited and I would like to really accelerate my growth in the profession.

Youíre advice would be greatly appreciated!

Thank you in advance
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Old 08-20-2018, 04:53 PM
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A colleague had mentioned Clustor and Segmentation analysis, but I wasnít sure if this was a common practice in the industry or if you guys have better recommendations from your collective experience as to what is most effective.

Thank you again for taking the time to review and respond! Iím super excited to learn!
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Old 08-20-2018, 06:33 PM
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What have you tried or explored so far?
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Old 08-20-2018, 06:34 PM
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What data do you have available to you?
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Old 08-20-2018, 06:34 PM
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What is your actuarial or statistical background?
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Old 08-20-2018, 06:35 PM
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How big (premium, exposures) is your book of business in the state?
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Old 08-20-2018, 06:37 PM
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When you say "driving the losses" are you talking about total loss dollars or loss ratios?
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