Actuarial Models for Valuation of Critical Illness Insurance
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F15%3A39899557" target="_blank" >RIV/00216275:25410/15:39899557 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Actuarial Models for Valuation of Critical Illness Insurance
Original language description
Critical illness insurance (CII) or critical illness cover is an insurance product, where the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the critical illnesses listed in the insurance policy. The schedule of insured illnesses varies between insurance companies. The basis for the valuation of each insurance product, not excluding CII products, is the knowledge of probability of insurance event specified in the policy. This article aims toexplain and apply methods of classical and Bayesian statistical inference how to estimate the probability of critical event diagnoses in the Slovak insurance companies, specifically for the men and women and for various age groups. The estimated event probabilities are subsequently used for setting risk premiums in the homogeneous groups by sex and age. The individual risk model has been used for calculation of premiums. Data submitted by the Decree No. 20/2008 to the National Bank of Sl
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
BB - Applied statistics, operational research
OECD FORD branch
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Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Journal of Mathematical Models and Methods in Applied Sciences
ISSN
1998-0140
e-ISSN
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Volume of the periodical
9
Issue of the periodical within the volume
2015
Country of publishing house
US - UNITED STATES
Number of pages
9
Pages from-to
218-226
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-84926482197