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The Modeling of Motor Insurance Claims with Infinite Mixture Distribution

S. Anantasopon, P. Sattayatham, T. Talangtam


This paper introduces an infinite mixture model which can be used to fit the real data set for 1,296 observations. We also compare the result of the fit for three classical models (i.e. exponential, inverse exponential and lognormal distributions) and that of infinite mixture distribution. The K-S test reveals that the infinite mixture distribution gives the best fit.


claim severity, classical distributions, infinite mixture distribution, gamma distribution, inverse exponential distribution.

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