An Extended Discrete Model for Actuarial Data and Value at Risk Analysis: Properties, Applications and Risk Analysis under Financial Automobile Claims Data

  • Mohamed Ibrahim 1.Department of Quantitative Methods, college of Business, King Faisal University, Al Ahsa 31982, Saudi Arabia. 2.Department of Applied, Mathematical and Actuarial Statistics, Faculty of Commerce, Damietta University, Damietta, Egypt
  • Nadeem Shafique Butt Department of Family and Community Medicine, King Abdul Aziz University, Jeddah, Kingdom of Saudi Arabia
  • Abdullah H. Al-Nefaie Department of Quantitative Methods, college of Business, King Faisal University, Al Ahsa 31982, Saudi Arabia
  • G. G. Hamedani Department of Mathematical and Statistical Sciences, Marquette University, 1313 W. Wisconsin Ave., Milwaukee, WI 53233, USA
  • Haitham M. Yousof Department of Statistics, Mathematics and Insurance, Benha University, Egypt
  • Aya Shehata Mahmoud Department of Statistics, Mathematics and Insurance, Benha University, Egypt
DOI: https://doi.org/10.19139/soic-2310-5070-2147
Keywords: Discrete Model; Maximum Expected Loss; Inflated Claims Data; Over Dispersed Data; Automobile Claims Data; Risk Assessment; Value at Risk

Abstract

This paper deals with a new discrete distribution with high flexibility. We have studied many of its mathematical and statistical properties, and we have neglected many other properties due to the narrow scope of the paper.Additionally, we have presented a comprehensive analysis of actuarial risks. A good set of actuarial risk indicators that are used in financial analysis and measurement and evaluation of financial risks. Five discrete data sets have been relied upon in conducting the financial analysis and risk assessment. Necessary comments have been provided on the results of the paper, and a set of necessary recommendations are provided for insurance companies to avoid the occurrence of unexpected large losses. All these financial analyses have been conducted in light of a discrete probability distribution.
Published
2024-12-05
How to Cite
Ibrahim, M., Butt, N. S., Al-Nefaie, A. H., Hamedani, G. G., Yousof, H. M., & Mahmoud, A. S. (2024). An Extended Discrete Model for Actuarial Data and Value at Risk Analysis: Properties, Applications and Risk Analysis under Financial Automobile Claims Data. Statistics, Optimization & Information Computing, 13(1), 27-46. https://doi.org/10.19139/soic-2310-5070-2147
Issue
Vol 13 No 1 (2025)
Section
Research Articles
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