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World Journal of Engineering
Research and Technology

( An ISO 9001:2015 Certified International Journal )

An International Peer Reviewed Journal for Engineering Research and Technology

ISSN 2454-695X

Impact Factor : 5.924

ICV : 79.45

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Indexing

Abstract

PARAMETER ESTIMATION FROM NEGATIVE-LINDLEY BINOMIAL DISTRIBUTION WITH MAXIMUM POSSIBLE METHODS: APPLICATION IN MOTOR VEHICLE INSURANCE

Yudhistira Naufal Sulaeman, Berlian Setiawaty, I. Gusti Putu Purnaba and Tita Rosita*

ABSTRACT

Frequency modeling of insurance claims plays an important role in an insurance company. This paper explains about negative binomial-Lindley distribution. This distribution has the greatest probability value at zero frequency. Negative binomial-Lindley distribution is usually used to model overdispersed data with large zero frequency probability which is often found in motor vehicle insurance data. For its application, the distribution parameters are estimated using the maximum likelihood method. The numerical calculation has done by using Wolfram Mathematica 11.2 and R 3.5.1 software. The result shows that negative binomial-Lindley distribution is suitable for estimating the frequency of motor vehicle insurance claims with a very good degree of accuracy.

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