New Study Findings from Benha University Illuminate Research in Mathematics (Risk Analysis and Estimation of a Bimodal Heavy-Tailed Burr XII Model in Insurance Data: Exploring Multiple Methods and Applications): Mathematics

2023 MAY 23 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Investigators publish new report on mathematics. According to news originating from Benha University by NewsRx correspondents, research stated, “Actuarial risks can be analyzed using heavy-tailed distributions, which provide adequate risk assessment.”

Funders for this research include King Saud University, Riyadh, Saudi Arabia.

The news reporters obtained a quote from the research from Benha University: “Key risk indicators, such as value-at-risk, tailed-value-at-risk (conditional tail expectation), tailed-variance, tailed-mean-variance, and mean excess loss function, are commonly used to evaluate risk exposure levels. In this study, we analyze actuarial risks using these five indicators, calculated using four different estimation methods: maximum likelihood, ordinary least square, weighted least square, and Cramer-Von-Mises. To achieve our main goal, we introduce and study a new distribution. Monte Carlo simulations are used to assess the performance of all estimation methods.”

According to the news editors, the research concluded: “We provide two real-life datasets with two applications to compare the classical methods and demonstrate the importance of the proposed model, evaluated via the maximum likelihood method. Finally, we evaluate and analyze actuarial risks using the abovementioned methods and five actuarial indicators based on bimodal insurance claim payments data.”

For more information on this research see: Risk Analysis and Estimation of a Bimodal Heavy-Tailed Burr XII Model in Insurance Data: Exploring Multiple Methods and Applications. Mathematics, 2023,11(9). (Mathematics - http://www.mdpi.com/journal/mathematics). The publisher for Mathematics is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/math11092179.

Our news journalists report that more information may be obtained by contacting Haitham M. Yousof, Department of Statistics, Mathematics and Insurance, Benha University, Benha 13511, Egypt. Additional authors for this research include S. I. Ansari, Yusra Tashkandy, Walid Emam, M. Masoom Ali, Mohamed Ibrahim, Salwa L. Alkhayyat.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Haitham M. Yousof (http://orcid.org/0000-0003-4589-4944), Yusra Tashkandy (http://orcid.org/0000-0003-2878-4460), Walid Emam (http://orcid.org/0000-0002-6810-6640), M. Masoom Ali (http://orcid.org/0000-0002-0120-9442), Mohamed Ibrahim (http://orcid.org/0000-0003-4893-9669).

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