Twisted Wang Transform Distribution

The twisted Wang transform distribution family, defined as the composition of parameter shifted inverse CDF function with an original CDF function, is found to be most suitable for matching low shape factor distributions, characterizing hard to fit or to simulate reinsurance portfolio losses for some perils from our previous study. Among them, the best form for matching a hard-to-fit empirical loss distribution for a specific peril, is the Exponential Fractional Extra Power 0 Distribution in (0,1) with CDF:.The simplest yet still a good form of this family is the Transformed Hyperbolic Tangent Distribution with CDF:,which has analytical formulas for the moments. The twisted Wang transform distribution family is compared and confirmed to be superior to all other well-known distribution families through extensive numerical optimization practice, distribution forms guesses, and computer-aided exploration experiments.