Using R for Actuarial Analysis in Valuation and Reserving

摘要

The introduction of R software into the statistical computing space has provided comprehensive language for managing and manipulating multidimensional data. Developing the capacity and skills of students and actuarial analysts is essential for actuarial practices. In this study, the use of R is proposed as a decision support tool for in the field of actuarial teaching and practice, as a complement to the existing excel platform. Count data is fitted using six regression models out of which zero-inflated Poisson model is considered to be most suitable model for the count data based on information criteria; also procedure for reserving is demonstrated. It is expected that this would promote the use of R among academia and practitioners.