VoseExpression | Vose Software


See also: Accident insurance, VoseAggregateMC




Example model

Allows you to create complex frequency and severity distributions for use as argument in the VoseAggregateMC function.

  • Formatstring - a string expression (between "") with #1,#2,... where #n refers to the nth DistributionN argument.

  • DistributionN - a distribution object

Insurance policies are becoming ever more flexible in their terms, and more complex to model as a result.

For example, we might have a policy with a deductible of 5, and a limit of 20 beyond which the insurer pays only half the damages. Using a cost distribution of Lognormal(31,23) and an accident frequency distribution of Delaporte(3,5,40) we can model this as follows:

A1: =VoseLognormalObject(31,23)

A2: =VoseExpression("IF(#1>20,(#1-25)/2,IF(#1<5,0,#1))",A1)

A3 (output): =VoseAggregateMC(VoseDelaporte(3,5,40),A2)

The VoseExpression function allows one a great deal of flexibility. The '#1' refers to the distribution linked to Cell A1. Each time the VoseExpression function is called it will generate a new value from the Lognormal distribution and perform the calculation replacing '#1' with the generated value. The Delaporte function will generate a value (call it n) from this distribution, and the AggregateMC function will then call the VoseExpression function n times, adding as it goes along and returning the sum into the spreadsheet.

The VoseExpression allows several random variables to take part in the calculation. For example:


will model a cost that follows a Lognormal(20,7) distribution with 30% probability and zero with 70% probability;


will model a cost that follows a (Lognormal(20,7)+ VosePareto(4,7)) distribution with 30% probability and zero with 70% probability.



Monte Carlo simulation in Excel. Learn more

Spreadsheet risk analysis modeling


Adding risk and uncertainty to your project schedule. Learn more

Project risk analysis


Enterprise Risk Management software (ERM)

Learn more about our enterprise risk analysis management software tool, Pelican

Enterprise risk management software introduction