Pricing in General Insurance

This book is based on the syllabus of the actuarial industry course on general insurance pricing. It delivers a practical introduction to all aspects of general insurance pricing, covering data preparation, frequency analysis, severity analysis, Monte Carlo simulation for the calculation of aggregate losses, and burning cost analysis. Providing case studies, examples, exercises, and step-by-step methods, this text presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk and ends with a commercially informed rate.