Can anyone give good estimates of what the initial wealth of the policyholder and insurer could be? I see the largest claim is around 50000…
The claims are capped at a maximum of 50,000.
Both in the training data set and the future losses.
(It was announced about mid way into the competition.)
Yes you can find more information about the reasoning for that in this announcement
But if you’re asking about the wealth of a specific policy holder, then that information is unavailable in the data.
Thanks! Also, in terms of the predict premium, what does market size 10 mean? (with reference to the phrase “It measures your average competitive profit in a market of size 10 when playing against other players.”)
Market size of 10 refers to the number of competitors in each market that you participate in.
For more details on how this comes to be please see the average profit evaluation metric on the overview page.
But If I haven’t understood your question please let me know