Surrogate modeling

Experience rating in insurance uses a Bayesian credibility model to upgrade the current premiums of a contract by taking into account policyholders' attributes and their claim history. Most data-driven models used for this task are mathematically …

The nested-simulation is commonly used for calculating the predictive distribution of the total variable annuity (VA) liabilities of large VA portfolios. Due to the large numbers of policies, inner-loops and outer-loops, running the nested-simulation …