# Perfectly Awesome

## Tweedie - insurance premium estimation

Background
• you don't know your product costs until they're sold.
• count models
• gamma model (claim severity)
• claim frequency = claim count/exposure
• claim severity = claim cost/claim count
• loss cost = claim frequency * claim severity
• Tweedle Notes
• used as distribution for GLMs
• with cluster at x=0
• use case: any industry with mix(zeros, non-negative continuous data)
• features: mean, variance = mu * mean^p
• mu = dispersion, p = index parameter
• not defined for p=0->1, Y>0
• continuous for p=1->2, with mass at y=0
• continuous for p>2, for Y>0
• p=1 --> Poisson; p=2 --> gamma, p=3 --> invGaussian
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