Publicação
Study for identification and contribution of extratropical cyclone claims in the home insurance portfolio
| Resumo: | Catastrophe modeling is becoming a standard practice in the insurance industry. It is very important for insurers to try to predict and protect themselves against such events as it can endanger their financial position. One natural catastrophe event that is common to model according to Verisk (2022) is the wind storm extratropical cyclone, which is relatively common in northern Europe during the winter months. To build a model from scratch, it is crucial to have credible and quality safe data to ensure that the model is based on a solid foundation. That is the main focus of this report. A thorough description of the process of identifying historical extratropical cyclone claims in the scope of a home insurance in the Irish market is provided. An analysis of the behaviour of the collected data is performed to verify that it originated from a catastrophe event. The analysis is conducted on several levels; storm arrival, storm length, claim frequency and claims severity, and its outcome confirms with certainty that the collected data is indeed catastrophe data. |
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| Autores principais: | Andersson, Hanna |
| Assunto: | Catastrophe data Claims identification Extratropical cyclone Goodnessof-fit tests Home insurance Ciclone extratropical Dados de catástrofe Identificação de indemnizações Seguro de habitação Testes de ajustamento |
| Ano: | 2022 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| Resumo: | Catastrophe modeling is becoming a standard practice in the insurance industry. It is very important for insurers to try to predict and protect themselves against such events as it can endanger their financial position. One natural catastrophe event that is common to model according to Verisk (2022) is the wind storm extratropical cyclone, which is relatively common in northern Europe during the winter months. To build a model from scratch, it is crucial to have credible and quality safe data to ensure that the model is based on a solid foundation. That is the main focus of this report. A thorough description of the process of identifying historical extratropical cyclone claims in the scope of a home insurance in the Irish market is provided. An analysis of the behaviour of the collected data is performed to verify that it originated from a catastrophe event. The analysis is conducted on several levels; storm arrival, storm length, claim frequency and claims severity, and its outcome confirms with certainty that the collected data is indeed catastrophe data. |
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