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Sickness recovery intensities for short term health insurance in Greece

Author

Listed:
  • George Mavridoglou

    (TEI of Kalamata, Antikalamos, Greece.)

  • Peter Kiochos

    (University of Piraeus, Piraeus, Greece.)

Abstract

The last decennium a vast literature on multiple state models and stochastic models for disability (health) insurance has been developed. In our paper, with title sickness recovery intensities for short term health insurance in Greece, examines two methodologies for graduating sickness recovery intensities in a multistate model for short term health insurance. The approach is based on generalized linear models and utilizes the data collected for a Greek Social Security Institution. The sickness recovery intensity is function of age at sickness onset, x, and duration of sickness, z. The graduation formula that proposed for Greek experience has three break-point predictors.

Suggested Citation

  • George Mavridoglou & Peter Kiochos, 2011. "Sickness recovery intensities for short term health insurance in Greece," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 61(1-2), pages 39-54, january -.
    • Handle: RePEc:spd:journl:v:61:y:2011:i:1-2:p:39-54
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    References listed on IDEAS

    as
    1. Plat, Richard, 2009. "On stochastic mortality modeling," Insurance: Mathematics and Economics, Elsevier, vol. 45(3), pages 393-404, December.
    2. Cordeiro, Isabel Maria Ferraz, 2002. "A multiple state model for the analysis of permanent health insurance claims by cause of disability," Insurance: Mathematics and Economics, Elsevier, vol. 30(2), pages 167-186, April.
    3. Renshaw, A. E. & Haberman, S., 1995. "On the graduations associated with a multiple state model for permanent health insurance," Insurance: Mathematics and Economics, Elsevier, vol. 17(1), pages 1-17, August.
    4. Hatzopoulos, P. & Haberman, S., 2011. "A dynamic parameterization modeling for the age-period-cohort mortality," Insurance: Mathematics and Economics, Elsevier, vol. 49(2), pages 155-174, September.
    5. Hatzopoulos, P. & Haberman, S., 2009. "A parameterized approach to modeling and forecasting mortality," Insurance: Mathematics and Economics, Elsevier, vol. 44(1), pages 103-123, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Disability Insurance; average duration of a claim; sickness recovery intensities; graduation process.;
    All these keywords.

    JEL classification:

    • C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior

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