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Method for optimizing insurance estimates utilizing Monte Carlo simulation
Method for optimizing insurance estimates utilizing Monte Carlo simulation
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机译:利用蒙特卡洛模拟优化保险估算的方法
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摘要
A method for optimizing insurance estimates utilizing Monte Carlo simulation includes the steps of ascertaining the total number of potential insured units and obtaining a quote for full insurance based on the total number of potential insured units. The method further includes creating a model of total costs of self insurance for the potential insured units, obtaining data distributions for all variables in the model of total costs of self insurance and running a Monte Carlo simulation on the model a preselected number of iterations. A range of range of possible total costs of self-insurance and the probabilities of such costs is then obtained facilitating a selection between full insurance and self-insurance.
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