Description: The classical approach to life contingencies has treated actuarial functions as fixed quantities. In point of fact, these functions really represent the mean or expected values of random variables which are functions at the length of time to death of a life aged x. In this paper, we will present some examples of this approach. Talk given at the thirteenth annual Actuarial Research Conference held at Ball State University, Muncie, Indiana, September 1, 1978.

Description: This is Mr. Hilary L. Seal's response letter to Editor Arnold F. Shapiro in regards to the 1983.1 ARCH's document on number of deaths observed in a mortality study.

Description: This is a proof on Lidstone's theorem. It contains formulas for calculating policy dividends.

Description: This note is labeled actuarial because it deals extensively with the force of interest, a concept which is characteristically of concern to the actuarial community. The authors’ personal point of view is that we should modify the basic definition of the compound interest.

Description: This paper discusses a model that is used for the loss process, ratemaking problem and risk classification.

Description: Because mortality tables are generally tabulated at yearly intervals actuaries frequently must make assumptions about intermediate values in developing formulas for insurance and annuity functions. This paper examines the effect on insurance and annuity formulas of assuming Mx+t to be linear within each interval.

Description: A theoretical study of the interrelationship between the financial and insurance risk markets.

Description: The paper gives two criteria for fit and uses two different criteria to transform an initial graduation into one with better fit. It is shown that the two sets of criteria give the same transformation. The mathematical relationships between the two sets of criteria are then derived. It is clear from those relationships that when one set of criteria is small, the other set is small [but reasonably the same]. Some general comments on various measures of fit are made.

Description: The objectives of this paper are to determine the extent to which Makeham's or Gompertz's laws describe recent insurance and population mortality analyze how the constants in the two laws vary with respect to some factors and propose a simple extension to Makeham's law to account for recent departures from the laws, related to difference in sex. Presented at Actuarial Research Conference at Ball State University, September 1, 1978

Description: Two breakout sessions were held. Their goal was to explore ways in which researchers and practitioners could be brought closer together. The following summaries were edited by Stuart Klugman from notes taken by the indicated participants: Session #1 - Bridging the gap with regard to modality and morbidity and Session #2 - Bridging the gap with regard to financial modeling.