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Experience Studies on Determining Life Premium Insurance Ratings: Practical Approaches

Author

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  • Cristea, Mirela
  • Mitu, Narcis Eduard

Abstract

The focus of this article is to present the modelling tehcniques used on international practice in the evaluation of right life premiums based. The knowledge and models obtained have a common element of mortality risk indicators but these are varied in different parts of the world. The common elements of these studies and models are generally based on a series of indicators which mainly point out their probability of survival and they are named the mortality indicators. These indicators 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

  • Cristea, Mirela & Mitu, Narcis Eduard, 2008. "Experience Studies on Determining Life Premium Insurance Ratings: Practical Approaches," MPRA Paper 11311, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:11311
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    File URL: https://mpra.ub.uni-muenchen.de/11311/1/MPRA_paper_11311.pdf
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    More about this item

    Keywords

    Insurance Premiums Quota; Actuarially Selection Criteria; Experience Studies;

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

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