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Modelling Techniques for Life Premium Ratings

Author

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  • Mirela Cristea
  • Marijan Cingula

Abstract

The paper presents the modelling techniques used on international practice for establishing life premiums quota. Thus, the calculus techniques used by the insurers are generally based on a series of indicators named mortality indicators which mainly point out the insured persons’ survival probability, the death probability and life expectancy at certain age. In Romania, these indicators are settled by National Institute of Statistics and they represent the basis for the calculation of the premiums quotes and for the elaboration by the insurers of premium tables. The benefit for the policyholder is to obtain insurance at a fair and competitive price and for the insurer, to maintain the experience of its portfolio in line with mortality assumptions.

Suggested Citation

  • Mirela Cristea & Marijan Cingula, 2008. "Modelling Techniques for Life Premium Ratings," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 39-48.
    • Handle: RePEc:ers:journl:v:xi:y:2008:i:4:p:39-48
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    File URL: http://www.ersj.eu/repec/ers/papers/08_4_p4.pdf
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    References listed on IDEAS

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    1. C. Pinkham & Marianne Cumming & Howard Minuk, 2006. "The Metabolic Syndrome and All-Cause Mortality in an Insured Lives Population," North American Actuarial Journal, Taylor & Francis Journals, vol. 10(3), pages 7-16.
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    Cited by:

    1. Carlos Pestana Barrosa & Milton Nektariosb & Nicolas Peypochc, 2009. "A Luenberger Index for the Greek Life Insurance Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-18.

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    1. Cristea, Mirela & Mitu, Narcis Eduard, 2008. "Experience Studies on Determining Life Premium Insurance Ratings: Practical Approaches," MPRA Paper 11311, University Library of Munich, Germany.

    More about this item

    Keywords

    premium ratings; life insurance; modeling techniques; mortality indicators;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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