Description: In an effort to build a bridge between epidemiological and actuarial modeling, this paper analyzes possible financial arrangements made against expenses resulted from medical treatments given to insured patients. Based on classical compartment models, the first part of this paper designs insurance policies for susceptible participants facing the risk of infection and formulates the financial obligations of both parties using actuarial methodology. For practical purposes, the second part employs a variety of numerical methods for calculating premiums and reserves. The last part illustrates the methods by designing insurance products for the Great Plague in Eyam and the SARS Epidemic in Hong Kong.

Description: Overview on current trends in medical practice impacting the LTC insurance business with a focus on dementia, risk stratification, and predictive modeling.

Description: View the complete issue for the August 2014 Reinsurance News newsletter.

Description: A recent Society of Actuaries study calculates safety and stability for current Long Term Care Insurance premiums.

Description: The author analyzes why LTCi is so risky, capital-intensive and unprofitable, and then makes the case that if we rethink the fundamental way a stand-alone LTCi should work, it can be transformed into a successful product.

Description: This article delves into a new line of statistical thinking of the author, that may be useful for product development actuaries. The key concept is how product design can produce products that diversify quickly, meaning that the company can be confident of a profitable product line, based on fewer sales than might be true for other designs.

Description: Metadata for entire issue

Description: Read the March 2017 issue of Health Watch, published by the Health Section. Practical information for actuaries, articles impact sections, section activities.