Enhancing Actuarial Non-Life Pricing Models via Transformers

arXiv:2311.07597v2 Announce Type: replace
Abstract: Currently, there is a lot of research in the field of neural networks for non-life insurance pricing. The usual goal is to improve the predictive power via neural networks while building upon the generalized linear model, which is the current industry standard. Our paper contributes to this current journey via novel methods to enhance actuarial non-life models with transformer models for tabular data. We build here upon the foundation laid out by the combined actuarial …

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