caa a22 4500 38634986X CHVBK 20180307111825.0 cr unu---uuuuu 161130e198906 xx s 000 0 eng 10.1017/S0020268100036465 doi S0020268100036465 pii (NATIONALLICENCE)cambridge-10.1017/S0020268100036465 Verrall R. J. City University, London The individual risk model: a compound distribution [Elektronische Daten] [R. J. Verrall] The two approaches to modelling aggregate claims—the individual and the collective models—have been regarded as arising by considering a portfolio of policies in different ways. The individual risk model (IRM) is derived by considering the claims on individual policies and summing over all policies in the portfolio, while the collective risk model (CRM) is derived from the portfolio as a whole. This is sometimes held to be the main difference between the IRM and the CRM. In fact the IRM can be derived in exactly the same way as the CRM and can be regarded as a compound binomial distribution. This makes a unified treatment of risk models possible, simplifies the calculation of the mean and variance of the IRM, and facilitates the calculation of higher moments. Copyright © Institute and Faculty of Actuaries 1989 Journal of the Institute of Actuaries Cambridge University Press 116/1(1989-06), 101-107 0020-2681 116:1<101 1989 116 JIA https://doi.org/10.1017/S0020268100036465 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0020268100036465 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Verrall R. J. City University, London NATIONALLICENCE 773 0- Journal of the Institute of Actuaries Cambridge University Press 116/1(1989-06), 101-107 0020-2681 116:1<101 1989 116 JIA CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge