Description: Gross premium calculation methods may be arbitrarily separated into: a- Type 1 methods those which initially have commissions and other per cent of premium expenses in the denominator and b- Type 2 methods those which initially have commissions and other per cent of premium expenses in the numerator. The traditional Type 1 methods directly calculate the gross premium. The purpose of this paper is: 1. to present a Type 1 method of gross premium calculation which does the following: a Incorporates the cost of reinsurance into the gross premium calculation and may be shown as a level annual cost over the gross premium calculation period. b Calculates the effect on profit margins of a change in the retention limit without redoing the original calculation. c Calculates the premiums needed to break even e.g., amortize the initial investment in surplus at the end of each policy year as a by-product. d Calculates the profit or loss generated in each policy year or over any number of policy years for any gross premium without redoing the original calculation or first using a trial gross premium. e Directly solves for the gross premium that will produce any specified profit over any number of policy years without redoing the original calculation or first using a trial gross premium. f Directly solves for the premium that will produce a specified yield on surplus invested in new business by a flexible technique not first involving the use of the renewal net premium or any other preliminary gross premium. 2. to provide a mathematical definition of a financially meaningful average policy size which recognizes the cost of reinsurance. 3. to provide for mathematical definitions of common measures of profit, and the mathematical relationships between them. 4. To establish formulas expressing the effect of changes in various assumptions used in the gross premium calculation as a lev

Description: From a session at a meeting of the Society of Actuaries held in Las Vegas, NV May 22-24, 2000 The panelists cover: 1 The basic concepts underlying fuzzy logic, 2 Current applications to risk classification and pricing and 3 Future possible uses of fuzzy logic.

Description: In this paper a model of term insurance experience is constructed on the basis of mortality classes theory and utility theory. The model generates a complete set of mortality, withdrawal, and conversion rates on term insurance and of mortality rates on converted policies . The resulting decrement rates can be used in a Jenkins-type formula to calculate gross premiums.

Description: This paper presents ratemaking for nonparticipating life insurance including the relationship between gross premiums and profit margins, suitable assumptions, a technique for evaluating in force business and demonstrating results using the methods. The paper is followed by a discussion. From Transactions of Society of Actuaries 1959, Vol. 11, No. 30 AB.

Description: Presented at May 2002 Spring Meeting. This session addresses the important elements in designing preferred risk products. Theoretical and pragmatic approaches to establishing a sound policy for setting underwriting requirements and mortality assumptions are discussed, including the real mathematics of preferred risk classification, distribution of risk profiles by age and the key elements of age-specific underwriting.

Description: Presented at May 1996 Spring Meeting. The session focuses on pricing and product design in emerging insurance markets in an inflationary or devaluation-plagued environment.

Description: This is a discussion of the paper, A General Method of Calculating Experience Net Extra Premiums Based on the Standard Net Amount at Risk by Walter Shur.

Description: Presented at April 1985 Spring Meeting. This session discussed traditional and modern approaches to actuarial pricing assumptions in a volatile environment.

Description: Discusses considerations in preparing rate books and policy forms based on the 1958 CSO Table, the advantages and disadvantages of early adoption of premium rates and values based on the 1958 CSO, and premium structures - banding, policy fees, etc.

Description: This paper sets forth a method of estimating the present value of the cost of future nonvested commissions. It also provides a method of producing an agents' survival table. Followed by several discussion papers submitted