Emeritus - Non-teaching | Risk and Insurance
5252 Grainger Hall
(608) 262-8714

Biography

Edward W. (Jed) Frees is a professor in the Risk and Insurance Department of the Wisconsin School of Business. He is the Hickman Larson Chair of Actuarial Science. His research interests are in actuarial science, regression and business forecasting, and panel data.

Frees is a Fellow of both the Society of Actuaries and the American Statistical Association. Frees is the only individual to be a Fellow of both organizations.

Prior to earning his Ph.D., he was employed by M& R Services (a Seattle actuarial and software consulting firm), John Eriksen's & Partners (a New Zealand actuarial consulting firm), and the United Kingdom's Government Actuaries Department. In addition, in 1989-1990 he was a visiting principal researcher at the U. S. Bureau of the Census. His home has been UW-Madison since 1983, where he teaches courses in statistics and actuarial science.

Frees received his Ph.D. in mathematical statistics from the University of North Carolina at Chapel Hill.

Research

Selected Accepted Journal Articles

Yang, L. & Frees, E. & Zhang, Z. (2018). Nonparametric estimation of copula regression models with discrete outcomes Journal of the American Statistical Association

Frees, E. & Lee, G. (2016). Multivariate frequency–severity regression models in insurance Risks

Selected Published Journal Articles

Frees, E. & Shi, P. (2018). Credibility prediction using collateral information Variance

Frees, E. (2017). Insurance Portfolio Risk Retention North American Actuarial Journal

Frees, E. & Meyers, G. & Derrig, R. (2016). Introduction to predictive modeling in actuarial science, Volume II

Frees, E. (2015). Analytics of Insurance Markets Annual Review of Financial Economics

Frees, E. & Meyers, G. & Cummings, A. (2014). Insurance ratemaking and a Gini index Journal of Risk and Insurance

Frees, E. & Meyers, G. & Derrig, R. (2014). Introduction to predictive modeling in actuarial science, Volume I

Frees, E. & Jin, X. & Lin, X. (2013). Actuarial applications of multivariate two-part regression models Annals of Actuarial Science

Frees, E. & Meyers, G. & Cummings, A. (2012). Predictive Modeling of Multi-Peril Homeowners Insurance Variance: Journal of the Casualty Actuarial Society

Johnson, Jr., P. & Rosenberg, M. & Frees, E. (2012). Analyses of Racial Disparities in U.S. Inpatient Mental Health Treatment Internet Journal of Mental Health

Shi, P. & Frees, E. (2011). Dependent loss reserving using copulas ASTIN Bulletin: Journal of the International Actuarial Association

Frees, E. & Gao, J. & Rosenberg, M. (2011). Predicting the frequency and amount of health care expenditures North American Actuarial Journal

Frees, E. & Meyers, G. & Cummings, A. (2011). Summarizing insurance scores using a Gini index Journal of the American Statistical Association

Yang, X. & Frees, E. & Zhang, Z. (2011). A Generalized Beta Copula with Applications in Modeling Multivariate Long-tailed Data Insurance: Mathematics and Economics

Frees, E. & Meyers, G. & Cummings, A. (2011). Dependent multi-peril ratemaking models ASTIN Bulletin: Journal of the International Actuarial Association

Frees, E. & Sun, Y. (2010). Household Life Insurance Demand - a Multivariate Two-Part Model North American Actuarial Journal

Antonio, K. & Frees, E. & Valdez, E. (2010). A Multilevel Analysis of Intercompany Claim Counts ASTIN Bulletin: Journal of the International Actuarial Association

Shi, P. & Frees, E. (2010). Long-tail Longitudinal Modeling of Insurance Company Expenses Insurance: Mathematics and Economics

Frees, E. & Shi, P. & Valdez, E. (2009). Actuarial Applications of a Hierarchical Insurance Claims Model ASTIN Bulletin: Journal of the International Actuarial Association

Frees, E. & Valdez, E. (2008). Hierarchical Insurance Claims Modeling Journal of the American Statistical Association

Frees, E. & Kim, J. (2008). Handbook of Probability Theory With Applications

Sun, J. & Frees, E. & Rosenberg, M. (2008). Heavy-Tailed Longitudinal Data Modeling Using Copulas Insurance: Mathematics and Economics

Frees, E. & Kim, J. (2007). Multilevel Modeling with Correlated Effects Psychometrika

Kim, J. & Frees, E. (2007). Omitted variables in multilevel models Psychometrika

Rosenberg, M. & Frees, E. & Sun, J. & Johnson, P. & Robinson, J. (2007). Predictive Modeling with Longitudinal Data: A Case Study of Wisconsin Nursing Homes North American Actuarial Journal

Frees, E. (2006). Forecasting of labor force participation rates The Journal of Official Statistics

Frees, E. & Kim, J. (2006). Multilevel model prediction Psychometrika

Frees, E. & Wang, P. (2006). Copula credibility for aggregate loss models Insurance: Mathematics and Economics

Frees, E. (2005). Pension plan termination and retirement North American Actuarial Journal

Frees, E. & Wang, P. (2005). Credibility using copulas North American Actuarial Journal

Frees, E. & Jin, C. (2004). Empirical standard errors for longitudinal data mixed linear models Computational Statistics

Frees, E. & Miller, T. (2004). Sales forecasting using longitudinal data models International Journal of Forecasting

Frees, E. (2004). Regression models for data analysis an entry for "Encyclopedia of Actuarial Science," Wiley, UK

Luo, Y. & Young, V. & Frees, E. (2004). Credibility ratemaking using collateral information Scandinavian Actuarial Journal

Frees, E. (2004). Longitudinal and Panel Data: Analysis and Applications for the Social Sciences Cambridge University Press,

Frees, E. (2003). Pension Plan Termination and Retirement Study Available at the web site research.bus.wisc.edu/jfrees/.

Frees, E. (2003). Stochastic forecasting of labor force participation rates Insurance: Mathematics and Economics

Frees, E. & Young, V. & Luo, Y. (2001). Case studies using panel data models North American Actuarial Journal

Browne, M. & Jaewook, C. & Frees, E. (2000). International Property-Liability Insurance Consumption Journal of Risk and Insurance

Frees, E. (1999). The 1999 Technical Panel on Assumptions and Methods (I am one of 12 authors on this report). Social Security Advisory Board, Washington, D.C

Frees, E. (1999). Summary of the Social Security Administration Projections of the OASDI System. Social Security Advisory Board, Washington, D.C.available at the web site: www.ssab.gov/reports.html

Frees, E. & Young, V. & Luo, Y. (1999). A longitudinal data analysis interpretation of credibility models Insurance: Mathematics and Economics

Frischmann, P. & Frees, E. (1999). Demand for services: Determinants of tax preparation fees Journal of the American Taxation Association

Frees, E. & Valdez, E. (1998). Understanding relationships using copulas North American Actuarial Journal

Frees, E. & Miller, R. (1998). Designing effective graphs North American Actuarial Journal

Frees, E. (1998). Relative importance of risk sources in insurance systems North American Actuarial Journal

Banerjee, M. & Frees, E. (1997). Influence diagnostics for longitudinal models Journal of the American Statistical Association

Frees, E. & Kung, Y. & Rosenberg, M. & Young , V. & Lai, S. (1997). Forecasting Social Security actuarial assumptions North American Actuarial Journal

Frees, E. (1996). Data Analysis Using Regression Models:The Business Perspective Prentice-Hall, Englewood Cliffs, NJ,

Frees, E. & Carriere , J. & Valdez, E. (1996). Annuity valuation with dependent mortality Journal of Risk and Insurance

Frees, E. (1995). Warranties as a contingent claim Product Warranty Handbook

Frees, E. (1995). Semiparametric estimation of warranty costs Journal of Nonparametric Statistics

Frees, E. (1995). Assessing cross-sectional correlations in panel data Journal of Econometrics

Lai, S. & Frees, E. (1995). Examining changes in reserves using stochastic interest models Journal of Risk and Insurance

Shieh, S. & Johnson, R. & Frees, E. (1994). Testing independence of bivariate circular data and weighted degenerate U-statistic Statistica Sinica

Frees, E. (1993). Short-term forecasting of internal migration Environment and Planning, Series A

Frees, E. (1992). Forecasting state-to-state migration rates Journal of Business and Economic Statistics

Frees, E. (1991). Linear regression and U-statistics. Sankhya, Series A

Frees, E. (1991). Trimmed slope estimates for simple linear regression Journal of Statistical Planning and Inference

Frees, E. & Velu, R. (1990). Insurance pricing using time series regression Journal of Insurance Issues and Practices

Frees, E. (1990). Stochastic life contingencies with solvency considerations (with discussion) Transactions of the Society of Actuaries

Frees, E. & Ruppert, D. (1990). Estimation following a Robbins-Monro designed experiment Journal of the American Statistical Association

Frees, E. (1989). Infinite order U-statistics Scandinavian Actuarial Journal

Frees, E. (1988). Net premiums in stochastic life contingencies Transactions of the Society of Actuaries

Cho, D. & Frees, E. (1988). Estimating the volatility of discrete stock prices Journal of Finance

Frees, E. & Nam, S. (1988). Approximating expected warranty costs Management Science

Frees, E. (1988). On estimating the cost of a warranty Journal of Business and Economic Statistics

Clayton, M. & Frees, E. (1987). Nonparametric estimation of the probability of discovering a new species Journal of the American Statistical Association

Frees, E. (1986). Optimizing costs of age replacement policies Journal of Stochastic Processes and their Applications

Frees, E. (1986). Warranty analysis and renewal function estimation Naval Research Logistics

Frees, E. (1985). Weak convergence of stochastic approximation processes with random indices Sequential Analysis

Frees, E. & Ruppert, D. (1985). Sequential nonparametric age replacement policies Annals of Statistics

Frees, E. & Gao, L. Predictive Analytics and Medical Malpractice North American Actuarial Journal

Frees, E. & Lee, G. Rating endorsements using generalized linear models. Variance

Presentations

Séminaire du Fonds Conrad-LeBlanc (2018) Predictive Analytics and Medical Errors

Miami University (2018) Predictive Analytics and Medical Errors

Actuarial and Financial Mathematics Conference (2018) Joint Modeling of Customer Loyalty and Risk in Personal Insurance

American University in Cairo (2018) Analytics in Insurance Markets

Cairo University (2018) Joint Modeling of Customer Loyalty and Risk in Personal Insurance

Agricultural and Applied Economics Department (2018) Predictive Analytics and Medical Errors

Advances in Predictive Analytics (2017) Predictive Analytics and Medical Errors

Bowles Symposium 2017: Predictive Analytics and Risk Analytics (2017) Modeling Dependent Insurance Risks: Customer Loyalty and Risk in Personal Insurance

Actuarial Research Conference (2017) Open Actuarial Textbooks Project

University of Illinois (2017) Modeling Dependent Insurance Risks: Customer Loyalty and Risk in Personal Insurance

Insurance: Mathematics and Economics Conference (2017) Joint Modeling of Customer Loyalty and Risk in Personal Insurance

Recent Developments in Dependence Modelling with Applications in Finance and Insurance (2017) Joint Modeling of Customer Loyalty and Risk in Personal Insurance

Travelers (2016) Modeling Loss Data: Endorsements and Portfolio Management

University of Connecticut (2016) Copulas: A Tool for Modeling Dependent Insurance Risks

AIG (2016) Modeling Claims Data: Copulas and other Predictive Analytic Tools

National Central University (2016) Insurance Portfolio Risk Retention

National Chengchi University (2016) Insurance Portfolio Risk Retention

Statistica Sinica/National Taiwan University (2016) Insurance Portfolio Risk Retention

Zurich Insurance Group (2016) Analytics of Insurance Markets

University of Barcelona (2016) Insurance Portfolio Risk Retention

CAS Annual Meeting (2015) Insurance Ratemaking and a Gini Index

Recent Advances in Actuarial Mathematic (2015) Insurance Portfolio Risk Retention

University of Amsterdam (2015) Insurance Portfolio Risk Retention

University of Wisconsin (2015) Insurance Portfolio Risk Retention

KU Leuven (2015) Insurance Portfolio Risk Retention

Actuarial Research Conference (2015) Predictive Modeling in Insurance

Finance, Insurance, Probability and Statistics (FIPS2015) Workshop of the Institute of Mathematical Statistics (2015) Analytics of Insurance Markets

Ratemaking and Product Management Seminar (2015) Rating Endorsements using Generalized Linear Models

CRM–CANSSI Workshop on New Horizons in Copula Modeling (2014) Analytics of Insurance Markets

International Congress on Actuarial Science and Quantitative Finance (2014) Predictive Modeling Applications in Actuarial Science

30th International Congress of Actuaries (2014) Predictive Modeling Applications in Actuarial Science

(2014) Insurance Company Operations and Dependence Modeling

Workshop on High-Dimensional Dependence and Copulas: Theory, Modeling, and Applications (2014) Insurance Company Operations and Dependence Modeling

Astin Colloquium (2013) Predictive Modeling of Insurance Company Operations

(2013) Actuarial Education and Technology Enhanced Learning

Actuarial Research Conference (2012) Predictive Modeling in Insurance

Astin Colloquium (2012) Predictive Modeling in Insurance

Department Symposium (2012) Risk based scores and the Gini index

Actuarial Research Conference (2011) Technology Enhanced Learning for Actuarial Education

ISI Annual Meeting (2011) Predicting Multivariate Two-Part Health Outcomes

Casualty Actuarial Society Annual Meeting (2010) Actuarial Applications of a Hierarchical Insurance Claims Model

2010 Valuation Actuary Symposium (2010) Avoiding Statistical Pitfalls in Actuarial Work

Actuarial Research Conference (2010) Technology Enhanced Learning for Actuarial Education

Insurance: Mathematics and Economics (2010) Individual Risk Predictive Modeling

Casualty Actuarial Society Spring Meeting (2010) Summarizing Insurance Scores Using a Gini Index

Annual Research Conference (2009) Dependent multi-peril ratemaking models

Department Seminar (2008) Predictive modeling in insurance

Department Seminar (2008) A multilevel analysis of intercompany claim counts

Department Seminar (2008) A multilevel analysis of intercompany claim counts

Annual Research Confernce (2008) A multilevel analysis of intercompany claim counts

Insurance: Mathematics and Economics (2008) Actuarial Applications of a Hierarchical Insurance Claims Model

Workshop on Recent Advances in Financial and Insurance Risk Management (2008) Actuarial Analysis of a Hierarchical Insurance Claims Model

Risk Theory Society Conference (2008) Actuarial Applications of a Hierarchical Insurance Claims Model

Department Seminar (2008) Hierarchical Insurance Claims Modeling

Department Seminar (2007) Actuarial Analysis of a Hierarchical Insurance Claims Model

Predictive Modeling Seminar (2007) Advanced Predictive Modeling Workshop

Department Seminar (2007) Hierarchical Insurance Claims Modeling

Department Seminar (2006) Heavy-Tailed Longitudinal Data Modeling Using Copulas

Annual Research Conference (2006) Heavy-Tailed Longitudinal Data Modeling Using Copulas

Insurance: Mathematics and Economics Conference (2006) Heavy-Tailed Longitudinal Data Modeling Using Copulas

Department Seminar (2006) Longitudinal Modeling of Singapore Motor Insurance

Annual Research Conference (2005) Longitudinal modeling of Singapore motor insurance

Insurance: Mathematics and Economics Conference (2005) Copula credibility for aggregate loss models

Second Brazilian Conference on Statistical Modeling in Insurance and Finance (2005) Copula credibility for aggregate loss models

University of Iowa (2005) Long tail longitudinal and panel data

Annual research Conference (2004) Credibility of copulas

Teaching

Undergraduate Courses

Regressn&Time Series-Actuaries (ACT 654), Spring 2010.
Linear regression and correlation; generalized linear regression models; introduction to time series; time series model building and forecasting with focus on data of interest to actuaries.

Regression & Time Series-Actuaries (ACT 654), Fall 2010.
Linear regression and correlation; generalized linear regression models; introduction to time series; time series model building and forecasting with focus on data of interest to actuaries.

Risk Theory (ACT 654), Spring 2007.
The individual and collective risk models for insurance systems. Methods of approximating the distribution of total claims. Application of risk theory to the operation of insurance systems.

Regressn&Time Series-Actuaries (ACT 654), Spring 2008.
Linear regression and correlation; generalized linear regression models; introduction to time series; time series model building and forecasting with focus on data of interest to actuaries.

Actuarial Studies of Mortality (ACT 653), Spring 2007.
Construction of mortality tables from the records of insured lives, employee benefit plans, and population statistics; graduation of mortality and related tables; actuarial aspects of demography.

Loss Distributions and Credibility Theory (ACT 652), Fall 2007.
Selection and fitting of probability distributions appropriate for insurance data that are heavy tailed and skewed; assessment of the credibility of data for ratemaking.

Loss Distributions and Credibility Theory (ACT 652), Fall 2006.
Selection and fitting of probability distributions appropriate for insurance data that are heavy tailed and skewed; assessment of the credibility of data for ratemaking.

Loss Models I (ACT 652), Fall 2010.
Definition and selection of probability distributions appropriate for insurance data that are heavily tailed and skewed.

Loss Models I (ACT 652), Fall 2009.
Definition and selection of probability distributions appropriate for insurance data that are heavily tailed and skewed.

Actuarial Mathematics 2 (ACT 651), Spring 2006.
Continuation of Act Sci 650. Joint life probabilities, annuities and insurances; multiple-decrement theory; pension fund mathematics.

Actuarial Mathematics (ACT 651), Spring 2003.
Continuation of Act Sci 650. Joint life probabilities, annuities and insurances; multiple-decrement theory; pension fund mathematics.

Actuarial Mathematics (ACT 651), Spring 2004.
Continuation of Act Sci 650. Joint life probabilities, annuities and insurances; multiple-decrement theory; pension fund mathematics.

Actuarial Mathematics 2 (ACT 651), Spring 2005.
Continuation of Act Sci 650. Joint life probabilities, annuities and insurances; multiple-decrement theory; pension fund mathematics.

(ACT 650), Fall 2005.

Actuarial Mathematics 1 (ACT 650), Fall 2005.
Advanced problems in the mathematical theory of life contingencies; force of mortality, laws of mortality; premiums and reserves for insurance and annuities based on a single life.

Actuarial Mathematics (ACT 650), Fall 2004.
Advanced problems in the mathematical theory of life contingencies; force of mortality, laws of mortality; premiums and reserves for insurance and annuities based on a single life.

Actuarial Mathematics (ACT 650), Fall 2002.
Advanced problems in the mathematical theory of life contingencies; force of mortality, laws of mortality; premiums and reserves for insurance and annuities based on a single life.

Actuarial Mathematics (ACT 650), Fall 2003.
Advanced problems in the mathematical theory of life contingencies; force of mortality, laws of mortality; premiums and reserves for insurance and annuities based on a single life.

Interest Theory (ACT 303), Spring 2004.
Application of calculus to compound interest and insurance functions; interest compounded discretely and continuously; force of interest function; annuities payable discretely and continuously; bonds and yield rates; life tables, life annuities, single and annual premiums for insurance and annuities; reserves.

Graduate Courses

Panel Data Analysis (BUS 806), Spring 2003.
Linear fixed and random effects models; estimation and prediction; data exploration, diagnostics and model selection techniques; generalized linear panel data models.

Panel Data Analysis (BUS 806), Fall 2004.
Linear fixed and random effects models; estimation and prediction; data exploration, diagnostics and model selection techniques; generalized linear panel data models.

Advanced Statistical Methods II (BUS 806), Spring 2001.
Advanced topics in regression; nonparametric methods; time-series analysis, autocorrelation, auto-regressive and moving average models, identification, fitting, and forecasting.

Panel Data Analysis (BUS 806), Fall 2009.
Linear fixed and random effects models; estimation and prediction; data exploration, diagnostics and model selection techniques; generalized linear panel data models.

Panel Data Analysis (BUS 806), Fall 2006.
Linear fixed and random effects models; estimation and prediction; data exploration, diagnostics and model selection techniques; generalized linear panel data models.

Learning/Teaching Oriented Publications

Frees, E. (2014). Chapter on "Frequency and severity models" Predictive Modeling Applications in Actuarial Science

Frees, E. (2014). Chapter on "Longitudinal and panel data" Predictive Modeling Applications in Actuarial Science

Frees, E. & Meyers, G. & Derrig, R. (2014). Chapter on "Introduction to predictive modeling in actuarial science,” Predictive Modeling Applications in Actuarial Science

Hickman, J. & Frees, E. (2008). New Palgrave Dictionary of Economics

Frees, E. (2008). Encyclopedia of Quantitative Risk Assessment

Frees, E. (2007). James C. Hickman an Actuary who made a difference North American Actuarial Journal

Frees, E. (2004). Longitudinal and Panel Data: Analysis and Applications for the Social Sciences.

Frees, E. (2004). Regression Models for Data Analysis

Frees, E. Dependent Insurance Risks in Encyclopedia of Quantitative Risk Analysis and Assessment

Frees, E. Regression Modeling with Actuarial and Financial Applications

Frees, E. & Okine, A. & Saridas, E. (2019). Dependence Modeling Loss Data Analytics

Service

Editorial and Reviewing Activities

Annals of Actuarial Science - Since January 2011
Associate Editor

Insurance: Mathematics and Economics - Since January 1997
Associate Editor