Wednesday, September 8, 2010
Actuarial Science, Risk Management & Insurance
Edward W. (Jed) Frees was recently awarded the 2010 Hachemeister Prize given by the Casualty Actuarial Society for the best paper published by the International Actuarial Association. Frees is the Assurant Health Professor of Actuarial Science at the Wisconsin School of Business at the University of Wisconsin-Madison.
The main criteria for the prize are the paper's significant potential impact on the practice of North American property/casualty actuaries and the practicality of application.
The paper was co-authored with Peng Shi (Wisconsin School of Business Ph.D., 2009, who is currently on the faculty at Northern Illinois University) and Emiliano Valdez (Wisconsin School of Business Ph.D., 1998, who is currently on the faculty at the University of Connecticut).
The title of the award-winning paper is “Actuarial Applications of a Hierarchical Insurance Claims Model.”
Frees will present the work at the Casualty Actuarial Society's annual meeting in Washington, D.C., in November.