package.
Steps of modelling process follow as below:
1. We will assume that the claims arise as realizations from
a certain family of distributions after an exploratory
analysis and graphical techniques.
2. We will estimate the parameters of the selected parametric
distribution using maximum likelihood based the claim
amount records.
3. We will test whether the selected distribution provides an
adequate fit to the data using Kolmogorov-Smirnov,
Anderson-Darling or χ2 test.