actuarial science

English

Noun

actuarial science (uncountable)

  1. (applied mathematics, insurance, finance) The discipline within applied mathematics dealing with risk assessment and the modelling of uncertainty; the rigorous application of mathematical and statistical methods to assess risk, in industries including insurance and finance.
    • 2007, Philip J. Boland, Statistical and Probabilistic Methods in Actuarial Science, Taylor & Francis (CRC Press: Chapman & Hall), page 221,
      In actuarial science alone the theory[of generalized linear models] has been used to model problems dealing with premium rating, mortality, multiple state models and claims reserving.
    • 2014, Luis Nieto-Barajas, Enrique de Alba, 14: Bayesian Regression Models, Edward W. Frees, Richard A. Derrig, Glenn Meyers (editors), Predictive Modeling Applications in Actuarial Science: Volume 1, Cambridge University Press, page 334,
      The use of Bayesian concepts and techniques in actuarial science dates back to Whitney (1918) who laid the foundations for what is now called empirical Bayes credibility.
    • 2015, Arthur Charpentier, Computational Actuarial Science with R, Taylor & Francis (CRC Press: Chapman & Hall), page xvii,
      This book aims to provide a broad introduction to computational aspects of actuarial science in the R environment. We assume that the reader is either learning or is familiar with actuarial science.

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