Description: This model arose from a project to evaluate the cost of a health care access' program to provide comprehensive medical care to uninsureds in Minnesota, for the Minnesota Health Care Access Commission. The project was to provide estimates of the impact on per-person and aggregate costs for various participation percentages in the access program. In order to evaluate those costs, the antiselection model described in this was developed. Of note, this was the ACTUARIAL EDUCATION AND RESEARCH FUND 1991 PRACTITIONERS AWARD WINNER. From Actuarial Research Clearing House 1991, VOL. 2.

Description: Up to now, the main aim of credibility theory has been to provide statistical models which allow for estimating [net] risk premiums appropriately. In this note, a simple credibility model based on the percentile principle is introduced. It turns out that there are close connections between the resulting credibility premiums and statistical tolerance limits.

Description: This paper shows the mortality element can be partially isolated allowing an exact annuity value to be readily obtained at any interest rate. From the Actuarial Research Clearing House 1979, Vol.2.

Description: In estimating mortality rates from the experience of a life insurance company or employee-benefit plan, it is expedient, because of the movement into and out of the covered group on dates other than birthdays or policy anniversaries, to make some assumption about mortality over a fractional part of a year of age. This paper describes and develops the concept of 'exposure' with regard to the more commonly known methods of estimating the rate of mortality, and proposes a fourth methodology. From the Actuarial Research Clearing House 1978, Vol.2.

Description: This article investigates the properties of the Gompertz distribution function. Explicit formulas for continuous life insurances and annuities are given in terms of the left-truncated gamma function. Moreover, approximations for the mean, variance, skewness and kurtosis of the Gompertz distribution are also given. Finally, the article shows that using a Gompertz assumption at fractional ages produces better a approximation than the usual UDD assumption.

Description: Under Yaari's dual theory of risk, this paper determines the equilibrium separating contracts for high and low risks in a competitive insurance market, in which risks are defined only by their expected losses, that is, a high risk is a risk that has a greater expected loss than a low risk. The authors also determine the pooling equilibrium contract when insurers are assumed non-myopic. Utility theory generally predicts that optimal insurance indemnity payments are nonlinear functions of the underlying loss due to the nonlinearity of agents' utility functions. Under Yaari's dual theory, the authors show that under mild technical conditions the indemnity payment is a piecewise linear function of the loss, a common property of insurance coverages.

Description: The results obtained during the last one-third of the research project and the project at whole are presented. The report only contains brief descriptions of the results which are placed in addendums and which are in reality copies of papers and a chapter of a book submitted for publication. Some theoretical and applied problems induced by the research are discussed.

Description: In this paper, the unconditional probability density functions of portfolio claim amounts based on several assumed risk distributions are found. From the Actuarial Research Clearing House 1994 Vol. 2 .

Description: Most computations that are done within actuarial science entail using discrete death rates associated with incremental ages. It's not that continuous death rates cannot be used, it's just that discrete values tend to be more convenient to work with. Of the various continuous probability distributions, the one most closely associated with actuarial science may be the Gompertz distribution. This paper takes a closer look at the Gompertz, starting with the motivation behind Benjamin Gompertz proposing this particular distribution. Then the paper develops procedures to estimate the parameters for this distribution, and it ends with a brief example of the procedures presented in the paper.

Description: A presentation on the principle of equivalent utility from the 2001 ARCH. Contains both the static and dynamic model as well as examples with exponential utility.