Description: This paper presents a proof using the general mean value theorem that under specified conditions, the insurance premium for complete protection against a specified loss will decrease with increasing wealth. From Actuarial Research Clearing House 1994, Vol. 1.

Description: This is an abstract of the paper entitled 'Estimation of Prior Density by Numerical Solution of Integral Equations' by R. Dalapatadu, H. Bowman and A. K. Singh. From ACTUARIAL RESEARCH CLEARING HOUSE, 1994 VOL. 1.

Description: This paper is written totally under present Indian conditions, but keeping an eye on the future, when there will be number of insurers, and this model can be applied to any condition where a number of insurers already exist. The purpose of this paper is to attempt to measure, from the point of view of a potential life insurance policyholder, the quality of the insurers and the variability between them so that it will be helpful for potential policyholders to choose their insurers according to their requirements.

Description: Equity-indexed annuities [EIA's] are the fastest growing annuity products. An appealing feature of an EIA to its holder is that it contains path-dependent options which allow the policyholder to participate in favorable investment performance while maintaining a minimum guarantee on the benefit level. Studying the valuation problem of path-dependent options enables us to provide needed information to insurance companies on the costs of these options as well as investment strategy for their portfolios. The martingale approach by Gerber and Shiu [1994, 1996] enables us to solve some valuation problems in option pricing without knowing deep results in stochastic calculus such as the Reflection Principle and Girsanov Theorem. What is needed is the Laplace transform of certain distributions known by actuaries. This paper shows how to use Gerber and Shiu's approach to compute two defective density functions related to double barrier hitting probabilities of a geometric Brownian motion. The approach used here is simple and straightforward, and purely analytical. The authors then apply the formulas to value some exotic options whose payoffs are contingent on barrier hitting time.

Description: This paper addresses the autoregressive model and shows that the boundedness restriction can be removed from the basic result on the probability of ruin. From Actuarial Research Clearing House 1991, VOL. 1.

Description: This paper considers the distribution of aggregate claims of an insurer. The general form of the distribution is considered initially, and, after a few mild restrictions are imposed, it is characterized as being a compound distribution. Followed by one submitted discussion paper.

Description: In this paper, the coefficients of the minimum-Rz moving-weighted-average formulas are derived using matrix algebra and the method of Lagrange multipliers. Reviewer's note: This mathematics can be useful in the graduation process of mortality and morbidity table construction

Description: The objectives of this paper are: 1. To show why scientific laws of mortality are preferable to the continued use of graduation techniques on mortality tables. 2. To develop a new theory leading to a new mathematical law of mortality that reduces to Gompertz's law as a first approximation. 3. To demonstrate an understanding of select mortality and produce a simple formula that is reasonably consistent with it. 4. To develop methods to test this and other similar formulas on various bodies of data to establish their validity and usefulness. 5. To discuss the meaning of the results and provide some examples of the use of the formula for purposes other than graduation. 6. To discuss extensions of the models. From Transactions of Society of Actuaries 1980, Vol. 32.

Description: In this paper two theorems concerning the optimality of the perfect-fit and perfect-smoothness graduations are proved. Two examples are presented and some difficulties with regard to computational feasibility are reviewed. A discussion of the paper follows. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: A presentation of a mathematics/statistics based approach for determining credibility factors for possible use in group health insurance premium rate setting and experience refund setting. Includes supporting mathematical proofs of approach. Followed by discussions submitted by several people