scholarly journals PENENTUAN PREMI TUNGGAL BERSIH ASURANSI JIWA BERJANGKA BERDASARKAN STATUS MULTIPLE DECREMENT

2019 ◽  
Vol 13 (2) ◽  
pp. 25
Author(s):  
Fitriani Fitriani ◽  
Aprida Siska Lestia ◽  
Yuana Sukmawaty
Keyword(s):  
Probability Function ◽  
Random Variable ◽  
Insurance Company ◽  
Construction Process ◽  
Financial Loss ◽  
Future Event ◽  
Term Insurance ◽  
The Status ◽  
Insured Person ◽  
Single Premium

Insurance is an attempt of risk diversion by the insured person to the insurance company. The risk is referred to the future event that will potentially cause a financial loss. Based on many risk factors,the status of insurance was divided into a single decrement and a multiple decrement. In single decrement, the only factor caused benefit payment is death, while in multiple decrement there is more than one factors caused benefit payment. As a consequence, beside the random variable of time until termination , there is another random variable appears that is the cause of decrement . The aim of this study was to describe the development process of a multiple decrement table and determine net single premium based on multiple decrement status. This study was conducted by describing the construction process of components in the multiple decrement table using joint distribution and marginal distribution for each random variable. This study is a various equation for constructing a multiple decrement table was obtained. That probability equation was also used to form the net single premium equation of term insurance based on multiple decrement status by using probability function of time until termination and cause of termination. Keywords: Term Insurance, Multiple Decrement, Net Single  Premium

scholarly journals Review On Application of Data Mining in Life Insurance

2018 ◽  
Vol 7 (4.5) ◽  
pp. 159
Author(s):  
Vaibhav A. Hiwase ◽  
Dr. Avinash J Agrawa
Keyword(s):  
Risk Factors ◽  
Data Mining ◽  
Life Insurance ◽  
Insurance Industry ◽  
Feature Space ◽  
Machine Learning Techniques ◽  
High Dimensional ◽  
Insurance Company ◽  
Financial Loss ◽  
Life Insurance Company

The growth of life insurance has been mainly depending on the risk of insured people. These risks are unevenly distributed among the people which can be captured from different characteristics and lifestyle. These unknown distribution needs to be analyzed from        historical data and use for underwriting and policy-making in life insurance industry. Traditionally risk is calculated from selected     features known as risk factors but today it becomes important to know these risk factors in high dimensional feature space. Clustering in high dimensional feature is a challenging task mainly because of the curse of dimensionality and noisy features. Hence the use of data mining and machine learning techniques should experiment to see some interesting pattern and behaviour. This will help life insurance company to protect from financial loss to the insured person and company as well. This paper focuses on analyzing hidden correlation among features and use it for risk calculation of an individual customer.  

scholarly journals FEATURES OF THE FORMATION AND VALUATION OF INSURANCE RESERVES

2021 ◽  
Author(s):  
Maxim Kompaniets ◽  
Inna Kysilyova
Keyword(s):  
Insurance Companies ◽  
Insurance Company ◽  
Strategic Decisions ◽  
Method Of Calculation ◽  
Loss Reserve ◽  
Management Efficiency ◽  
The Status ◽  
Conducting Research ◽  
Economic Nature ◽  
Lower Limits

The purpose of the paper is research of practice of making insurance reserves of the insurance companies in Ukraine and summarizes the ways of improvement of methods for their calculation with the purpose of increasing management efficiency of an organization. The article addresses the characteristics and economic nature of certain types of technical reserves of insurance organizations in particular the unencumbered premiums reserve, the loss reserve and the catastrophe reserve, and the characteristics of their formation. Major methods for calculating the reserve of unencumbered premiums reviewed and recommended adjustment to method 1/36 , and use of the reserve calculation method of unencumbered premiums, which takes into account inflation ratio. The method of calculation and formation of the loss reserve is considered as well as the characteristics of the reserve for past but undeclared losses and reserves for asserted but unresolved losses. The system of indicators of sufficiency of insurance reserves of insurance organizations was analyzed; the calculation formulae and recommended values are given. Insurance reserves sufficiency ratios refers to the status of insurance reserves and determine the adequacy of insurance reserves to the risks taken into insurance. Sufficiency ratio (based on premiums) and sufficiency ratio (based on payments) determine, respectively, the upper and lower limits of insurance reserves. For conducting research and substantiation of relevant conclusions, the indicators of dynamics and structure of insurance reserves of insurance company JSC IC “INGO” are analyzed. Sufficiency ratios for insurance reserves of JSC IC “INGO” are also calculated and Evaluation of the company’s insurance reserves has been performed. The results of the study can be applied by the heads of the financial divisions of insurance companies for the development of tactical and strategic decisions that allows to yield optimal condition of insurance reserves and their reliable valuation of insurance company and to perform the quick analysis of the state of insurance reserves of insurance company.

On the Distribution of Sum of Independent Positive Binomial Variables

1970 ◽  
Vol 13 (1) ◽  
pp. 151-152 ◽  
Author(s):  
J. C. Ahuja
Keyword(s):  
Power Series ◽  
Inversion Formula ◽  
Probability Function ◽  
Random Variables ◽  
Random Variable ◽  
Characteristic Functions ◽  
Binomial Probability ◽  
Generalized Power Series ◽  
Alternative Derivation ◽  
Image Position

Let X1, X2, …, Xn be n independent and identically distributed random variables having the positive binomial probability function1where 0 < p < 1, and T = {1, 2, …, N}. Define their sum as Y=X1 + X2 + … +Xn. The distribution of the random variable Y has been obtained by Malik [2] using the inversion formula for characteristic functions. It appears that his result needs some correction. The purpose of this note is to give an alternative derivation of the distribution of Y by applying one of the results, established by Patil [3], for the generalized power series distribution.

scholarly journals Self-Annuitization, Consumption Shortfall in Retirement and Asset Allocation: The Annuity Benchmark

2002 ◽  
Vol 1 (3) ◽  
pp. 269-288 ◽  
Author(s):  
PETER ALBRECHT ◽  
RAIMOND MAURER
Keyword(s):  
Capital Market ◽  
Asset Allocation ◽  
Operating Cost ◽  
Insurance Company ◽  
Fixed Amount ◽  
Life Annuity ◽  
Investment Opportunities ◽  
Single Premium ◽  
Personal Probability

The present paper considers a retiree of a certain age who is endowed with a certain amount of wealth and is facing alternative investment opportunities. One possibility is to buy a single premium immediate (participating) annuity-contract. This insurance product pays a life-long pension payment of a certain amount, depending e.g. on the age of the retiree, the operating cost of the insurance company and the return the company is able to realize from its investments. The alternative possibility is to invest the single premium into a portfolio of mutual funds and to periodically withdraw a fixed amount that is assumed to be equivalent to the consumption stream generated by the annuity. The particular advantage of this self-annuitization strategy compared to the life annuity is its greater liquidity and the possibility of leaving money for heirs. However, the risk of self-annuitization is to outlive the assets before the uncertain date of death. The risk can thus be specified by considering the probability of running out of money before the uncertain date of death. The determination of this personal probability of consumption shortfall with respect to German insurance and capital market conditions is the objective of this paper.

scholarly journals A Mutual Reinsurance Scheme

1971 ◽  
Vol 6 (2) ◽  
pp. 163-177 ◽  
Author(s):  
Harald Bohman ◽  
Ulf Grenander
Keyword(s):  
Life Insurance ◽  
Insurance Company ◽  
Insurance Policy ◽  
Insured Person ◽  
Insurance Business ◽  
Basic Facts ◽  
Policy Holder ◽  
Administrative Expenses

In order to make this report clear to those without experience in insurance matters, we first present some basic facts about the insurance business. In so doing we intentionally omit certain facts irrelevant to the present study. The most important omission of this kind is our assumption that the insurance business operates without administrative expenses and without sales costs. We also assume that the insurance business is run in such a way that no profit is made. It will be evident to readers already directly connected with insurance problems what further omissions we have made and why we have made them.Insurance is the establishment of a contract between the insurance company and the insured person This contract is by tradition called the “insurance policy” and the insured person is called the “policyholder”. By agreeing to the insurance policy, the policyholder commits himself to paying certain premiums to the insurance company, and the insurance company commits itself to paying certain amounts to the policyholders. The conditions under which such payments are to be made are of many different kinds: the policy-holder dies, the policyholder becomes ill, a homeowner's house is burnt down, or the policyholder has a collision in his car. The circumstances under which a payment is to be made to the policy-holder are described in detail in the insurance policy. The amount to be paid is either fixed or variable: in life insurance the amount to be paid is always fixed and stated in the insurance policy, but in most other forms of insurance the intention is that the insurance compensate the policyholder for the losses he might incur as a consequence of the events covered by his policy.

scholarly journals Research on Durability Design of Concrete Structure in Building Engineering Based on Computer Technology

2021 ◽  
Vol 2074 (1) ◽  
pp. 012076
Author(s):  
Guang Yang ◽  
Hongjie Guan ◽  
Wenna Ma
Keyword(s):  
Computer Technology ◽  
Concrete Structure ◽  
Rapid Development ◽  
Living Environment ◽  
Construction Process ◽  
Durability Design ◽  
The Status ◽  
Continuous Progress ◽  
The Times ◽  
Building Engineering

Abstract With the continuous progress of The Times and the rapid development of society, great changes have taken place in the way people live, study and work at present. Due to the continuous improvement of people’s living standards, people now have higher and higher requirements for their living environment. People are not only satisfied with the food and clothing they used to have, but also pay more attention to the pursuit of spiritual homes. In our country, the computer technology and the construction industry have always been the focus of our national attention, because they are closely related to the lives of ordinary people. In the construction of the concrete structure is an indispensable building material in the construction process, based on the status of the concrete structure in the construction process, the relevant work technology researchers on the concrete structure of a series of characteristics have been related to the development of the function of the continuous exploration and analysis.

Distribution of the Sum of Truncated Binomial Variates

1969 ◽  
Vol 12 (3) ◽  
pp. 334-336 ◽  
Author(s):  
Henrick John Malik
Keyword(s):  
Probability Function ◽  
Random Variable ◽  
Image Position

Let X be a random variable defined by a Bernoullian probability function(1)The probability function of the restricted random variable which is truncated away from zero is then(2)The divisor 1 - qN arises from the condition excluding zero.

scholarly journals PORTFOLIO MANAGEMENT IN LIC- AN EMPIRICAL STUDY OF DHARWAD REGION

2020 ◽  
pp. 456-462
Author(s):  
Jyoti.M.Goudar ◽  
Prof.S.S.Hugar
Keyword(s):  
Portfolio Management ◽  
Life Insurance ◽  
Financial Security ◽  
Insurance Company ◽  
Financial Loss ◽  
Life Insurance Company ◽  
Investment Portfolio ◽  
Chi Square ◽  
The Many ◽  
The Right

LIC of India is the leading insurance company in India. Life insurance is designed to protect life and to protect family against financial uncertainties that may result due to unfortunate demise or illness. It can also view as a comprehensive financial instrument, as a part of the financial planning offering savings & investment facilities along with cover against financial loss. By choosing the right policy as per the needs. We all have different financial needs and objectives. But life insurance plays a fundamental role in most of our plans for financial security. That's because of the variety of life insurance plans available and the many ways they can be customized to meet unique needs at different periods of our life. The present study is concerned with investment portfolio of life Insurance Company during the period 2017-20. The gist of this paper is to examine and explain different investment portfolio of the life insurance company. Moreover to find out how they follow the prevailing norms of investment guideline and to signify the deviation from investment norms. Therefore, it becomes relevant to discuss investment portfolio at the outset with the help of csome statistical test i.e. Chi-Square, percent, trend etc. KEY WORDS: Portfolio analysis, Life insurance, Investment guidelines, Customers.

scholarly journals Simulating Emergency Department Boarding Using a Difference Equation

2020 ◽  
Author(s):  
Edward G. Brown ◽  
Patricia K. Howard ◽  
Daniel Moore
Keyword(s):  
Emergency Department ◽  
Difference Equation ◽  
Random Variable ◽  
Status Quo ◽  
Time Interval ◽  
Simulation Methods ◽  
The Status ◽  
Relationship Of ◽  
The Relationship ◽  
Patient Presentation

AbstractBackgroundThis paper aims to provide a model that can be used to simulate the effect of patient presentation counts on ED boarder counts and investigate strategies that might be used for managing ED boarding levels.MethodsA boarding simulation model is constructed using a random variable and two regressions that are linked together in a difference equation. The simulation is run under varying constraints, including time interval, presentation counts, and boarder count threshold. Bootstrapping is used to run the simulation a large number of times so that mean and medians can be calculated along with confidence intervals.ResultsThe method outlined in this paper can be used to simulate the effect of presentation levels on ED boarder counts. Using these methods one can derive quantifiable estimates of time that an emergency department might meet or exceed a particular boarder count threshold.ConclusionsThese simulation methods can help an emergency department understand the dynamics of the system in the status quo of normal operations and quantify the relationship of presentation counts and throughput to the hospital. We are hopeful that others may use these methods, adapting, developing, and testing for their own institutions.

scholarly journals PEMODELAN MATEMATIKA PREMI TUNGGAL BERSIH ASURANSI UNIT LINK SYARIAH

2017 ◽  
Vol 8 (2) ◽  
pp. 165
Author(s):  
Nanang Supriadi
Keyword(s):  
Risk Factor ◽  
Life Insurance ◽  
The Other ◽  
Investment Fund ◽  
Insurance Company ◽  
Fund Allocation ◽  
Maximum Benefit ◽  
Actuarial Approach ◽  
Single Premium ◽  
Premium Model

The exact risk factor can be managed by transferring the risk to the other party (in this case the insurance company). In this paper will be discussed more life insurance, as the development now there are types of insurance combined with investment, which is popular with the term Unit Link insurance. Unit link Syariah began to be launched as one of the fulfilment of the high needs of the community, the privilege of the product Unit of Islamic links is actually located in the elements of the laws in accordance with Islamic Syariah. The issues that will be discussed are how to get a single premium model of life insurance unit link Syariah with life insurance and investment fund allocation invested in investment product with a big interest rate of risk (financial approach) and investment product with the value of return maximum (actuarial approach). The resulting model is then implemented in case of examples by comparing the two approaches to see the shortcomings and advantages of Unit link lifetime life insurance when compared to life insurance. The result obtained from this research is the benefit obtained from Unit-linked sharia insurance on average will be greater if compared with life insurance for life, maximum benefit will be obtained Insurance Unit Link of sharia using actuarial approach compared to financial, but benefit with a relative financial approach more stable than actuarial approaches that tend to fluctuate. 

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