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Statistics - Business, Economics & Finance | Multiple Decrement Models in Insurance - An Introduction Using R

Multiple Decrement Models in Insurance

An Introduction Using R

Deshmukh, Shailaja Rajendra

2012, XVI, 220 p.

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  • ​Numerous illustrative examples
  • Use of public domain software R
  • Step by step explanation of concepts and derivations
​The book will serve as a guide to many actuarial concepts and statistical techniques in multiple decrement models and their application in calculation of premiums and reserves in life insurance products with riders and in pension and employee benefit plans as in these schemes, the benefit paid on termination of employment depends upon the several causes of termination. Multiple state models are discussed to accommodate the insurance products in which the payment of benefits or premiums is dependent on being in a given state or moving between a given pair of states at a given time, for example, disability income insurance model. The book also discusses stochastic models for interest rates and calculation of premiums for some products in this set up. The highlight of the book is usage of R software, freely available from public domain, for computations of various monetary functions involved in insurance business. R commands are given for all the computations.

Content Level » Graduate

Keywords » Insurance - Multiple Decrement Models - Multiple State Models - Pension Funding - Premiums and Reserves - Random Interest Rate

Related subjects » Business, Economics & Finance - Statistical Theory and Methods

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