We congratulate Prof. Dr. Despoina Makariou and George Tzougas on their remarkable contribution to risk management and insurance. Their article, «The Multivariate Poisson-Generalized Inverse Gaussian Claim Count Regression Model with Varying Dispersion and Shape Parameters», published in the Risk Management and Insurance Review on behalf of the American Risk and Insurance Association, quickly gained recognition as one of the most top downloaded papers in its debut year.
In a nonlife insurance setting, the actuary may be concerned with modeling jointly different types of claims and their associated counts.
In their paper, George Tzougas and Despoina Makariou, develop a multivariate Poisson‐Generalized Inverse Gaussian (MVPGIG) regression model with varying dispersion and shape for modeling positively correlated and overdispersed claim counts from different types of coverage in a flexible manner.
From a practical business standpoint the proposed approach can efficiently accommodate positive correlation structures between different types of claims from the same and/or different types of coverage associated with various insurance business lines, hence leading to advantages such as accurate multi product premium determination and setting the appropriate levels of reserves.