Tools for Statistics in Finance and Insurance explains how to build methods, create theories, and provide ready-to-use solutions for a variety of real-world situations in quantitative insurance and finance. This book presents a distinctive combination of themes that will be useful to every market analyst and risk management. It was written by practitioners and top academics in the fields of quantitative insurance and finance.
The book not only provides practitioners with new methods for their applications but also provides theoreticians with insight into the applicability of stochastic technology by covering topics like heavy-tailed distributions, implied trinomial trees, pricing of CAT bonds, simulation of risk processes, and ruin probability approximation. The book also offers the instruments, tools, and (online) algorithms for current methods in quantitative finance and cutting-edge approaches to insurance calculations.
Written in an accessible and engaging style, this self-instructional book makes good use of extensive examples and full explanations. The design of the text links theory and computational tools in an innovative way. All Quantlets for the calculation of examples given in the text are supported by the academic edition of Xplore and may be executed via Xplore Quantlet Server (XQS). The downloadable electronic edition of the book enables one to run, modify, and enhance all gauntlets on the spot.
