Life Insurance Pricing Competition and Simulation Research

Show simple item record Khalequzzaman, Carter 2014-05-08T13:54:54Z 2014-05-08T13:54:54Z 2014-05-08
dc.description.abstract A life insurance pricing competition with the objective of giving underclassmen actuarial science students a brief understanding of one of the roles of actuaries was performed. To accomplish this, a model was developed that considered several factors when determining premiums for annually renewable life insurance products. This model generated market share and business experience such as deaths and lapses based on premiums. These premiums were determined by each team. The teams calculated their own profits according to the experience. Furthermore, teams decided to increase or decrease their premium rates and the magnitude of the change based upon the results of the entire market in the previous rounds. Students worked in teams to discuss factors to consider and speculate how changes would affect the market.
dc.language.iso en_US en_US
dc.title Life Insurance Pricing Competition and Simulation Research en_US
dc.type Thesis en_US
dcterms.publisher Robert Morris University Honors Program

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