Abstract:Background/Objectives: The main objective of this research paper is to build an appropriate mathematical model that helps in forecasting overall claim amount based on the chosen characteristics of the data. Methods/Statistical analysis: In the field of actuarial research, forecasting the third-party claim amount for Motor vehicles is a challenging task, and only limited empirical research studies are done in predicting the claim. In this context, the annual time series historical claim data were collected for … Show more
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