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Depends on which field you are working in. If you are in Pricing, SP8 looks easier for you. If in reserving, you can choose SP7 first. Whatever, SA3 is the hardest.
It’s really a cool forum, goactuary.com.
For Life side, the book “Life, Health & Annuity Reinsurance” is worth reading. Also can be found on Amazon. Or you can take a look at LOMA’s reinsurance textbook.
Isn’t it 0.0011 claims per car day? That’s 40/100/365.
Used the average claims amount just like Red said, or choose a percentile say 65% with some conservation.
If the CAT loss was significant, I suggest that you update all the previous cells in the triangle. The CAT amount may distort the triangle.
Except the actuarial exams, maybe you can try the CAT certification exams, like RMS’s CCRA or AIR’s CEEM, or CAS Institute’s CSCR/CCRMP.
December 29, 2020 at 7:13 am in reply to: How does pay-per-mile car insurance work from an actuarial perspective? #1626The annual claims frequency was divided into the monthly basis, and then the daily basis, and then the per-mile basis. No use, no pay 🙂
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