Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. To achieve this, it uses mathematical models in an effort to forecast the (expected) number of insurance claims based on past observations.
Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. To achieve this, it uses mathematical models in an effort to forecast the (expected) number of insurance claims based on past observations.
Source: Wikipedia "Credibility theory" · CC BY-SA 4.0
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