Abstract:This study focuses on the future development of an insurance company during difficult circumstances, which can be described by a stochastic process that must be effectively managed to achieve the best goals for the company. Effective risk or loss management models can bring in more revenue for the insurer and result in less conditional pay-out of claims to the insured. While insurance losses, risks, and premium calculation are important topics in the field, existing literature has not always stood the test of … Show more
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