Insurance Commons^™

Obesity, Educational Attainment, And State Economic Welfare, Martin W. Sivula Ph.D.

MBA Faculty Conference Papers & Journal Articles

For the first time in history, estimates of the overweight people in the world rival estimates of those malnourished. The World Health Organization (WHO, 2002) ranked obesity among the top 10 risks to human health worldwide. In the early 1960s, nearly half of the Americans were overweight and 13% were obese. Today some 64% of U.S. adults are overweight and 30.5% are obese. Even more alarming, twice as many U.S. children are overweight than were twenty years ago, a 66% increase. Non-communicable diseases impose a heavy economic burden on already strained health systems. Health is a key determinant of development …

Blue Cross And Blue Shield Of Florida (Bcbsf) Fact Sheet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Perspectives Spring 2004, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Spring 2004 employee newsletter published quarterly for employees of Blue Cross and Blue Shield of Florida. Includes Brand Matters, Spring 2004.

What Do You Charge? It Depends., Zachary S. Finn

Scholarship and Professional Work - Business

Explores pricing variables for risk management service fees. Client's risk management service needs; Level of investment needed to meet the clients' risk management needs; Measurement of the return on investment.

Nursing Partnership Formed With Florida Memorial College, St. Thomas University And University Of Miami, Blue Cross And Blue Shield Of Florida Provides Gift To Launch Program, 3/22/2004, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Nursing Partnership Formed with Florida Memorial College, St. Thomas University and University of Miami, Blue Cross and Blue Shield of Florida Provides Gift to Launch Program, 3/22/2004.

The Role Of Deposit Insurance In Financial Sector Stability, Umoh N. Peter

Bullion

It might be necessary to start explaining the terms involved in the above topic. A Deposit insurance Scheme (DlS) is an arrangement whereby a designated agency (usually government-owned) guarantees deposits in insured financial institutions This paper discusses the guarantee function and financial sector stability, the supervisory function and financial sector stability, the liquidation function and financial sector stability and the other contributions of Nigeria Deposit Insurance Corporation (NDIC). The study concluded that, "Financial Sector Stability: lssues and Challenges" is not only appropriate but quite timely given the rumours making the rounds about unfounded banking distress.

Journal Of Actuarial Practice, Volume 11, 2004, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES (the entire volume)

Product Innovation in Financial Services: A Survey • Christopher O'Brien 5

Phased Retirement for Defined Benefit Plan Participants • Patricia L. Scahill and Jonathan Barry Forman . 43

The Actuarial Value of Life Insurance Backdating • James M Carson and Krzysztof M Ostaszewski . 63

Decision Tree Analysis of Terminated Life Insurance Policies • Robert Keng Heong Lian, Yuan Wu, and Hian Chye Koh . 79

A Comparative Study of Parametric and Nonparametric Estimators of Old-Age Mortality in Sweden • Peter Fledelius, Montserrat Guillen, Jens Perch Nielsen, and Kitt Skovsø Petersen 103

Estimation of Complete …

News Release: “The Blue Foundation For A Healthy Florida Awards Philanthropic Grants: Twelve Florida Non-Profits Receive $623,073, The Blue Foundation For A Healthy Florida

Florida Blue Archives Printed Materials

No abstract provided.

Ua3/9/1 Wku 2003/2004 Annual Report, Wku President's Office

WKU Administration Documents

WKU's annual report regarding academics, faculty/staff performance, economic development, sponsored research, funding, athletics and leadership.

Journal Of Actuarial Practice - Volume 11 (2004) - Contents And Masthead

Journal of Actuarial Practice (1993–2006)

Contents

Editorial Policy: Topics suitable for this journal include AIDS, annuity products, asset-liability matching, cash-flow testing, casualty rate making, credibility theory, credit insurance, disability insurance, expense analysis, experience studies, FASB issues, financial reporting, group insurance, health insurance, individual risk taking, insurance regulations, international issues, investments, liability insurance, loss reserves, marketing, pensions, pricing issues, product development, reinsurance, reserving issues, risk-based capital, risk theory, social insurance, solvency issues, taxation, valuation issues, and workers' compensation

Review Process

Editor - Colin Ramsay, University of Nebraska

Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, …

Rapid Calculation Of The Price Of Guaranteed Minimum Death Benefit Ratchet Options Embedded In Annuities, Eric R. Ulm

Journal of Actuarial Practice (1993–2006)

This paper presents a new method of obtaining quick and accurate values and deltas for discrete look back options using Taylor series expansions. This method is applied to the case of ratchet guaranteed minimum death benefits attached to annuity contracts, and the method is extended to include annuities where a fixed fund is attached to the variable account. Finally, both the speed and the accuracy of the method are compared to Monte Carlo simulation and the exact analytic solution. The Taylor expansion method is shown to be faster and, in most cases, more accurate than the alternative methods.

Approximating The Bias And Variance Of Chain Ladder Estimates Under A Compound Poisson Model, Janagan Yogaranpan, Sue Clarke, Shauna Ferris, John Pollard

Journal of Actuarial Practice (1993–2006)

We consider the problem of estimating the outstanding claims produced by a homogeneous general insurance portfolio. The specific model considered in this paper is one where the number of claims in any loss period follows a Poisson distribution, settlement delays follow the same multinomial distribution, and settlements are single lump sums that are independent identically distributed random variables. Simulations using this model reveal that the development ratios and the outstanding claims estimates produced using the chain ladder method are positively biased. We obtain approximate formulas for the biases using Taylor series expansions of the random variables about their means. The …

Decision Tree Analysis Of Terminated Life Insurance Policies, Robert Keng Heong Lian, Yuan Wu, Hian Chye Koh

Journal of Actuarial Practice (1993–2006)

Statistical methods such as regression and survival analysis have traditionally been used to investigate the factors affecting the duration of terminated life insurance policies. This study explores a different approach: it uses a more recently developed data mining technique called decision trees. By sequentially partitioning the data to maximize differences in the dependent variable (duration in this study), the decision trees technique is good at identifying data segments with significant differences in the dependent variable. This identification can be useful when a company is trying to understand the factors driving or associated with the termination of life insurance policies. Decision …

A Comparative Study Of Parametric And Nonparametric Estimators Of Old-Age Mortality In Sweden, Peter Fledelius, Montserrat Guillen, Jens Perch Nielsen, Kitt Skovso Petersen

Journal of Actuarial Practice (1993–2006)

A recent study of Swedish old-age mortality used a modified GompertzMakeham model with a linear hazard for the force of mortality. We propose an alternative model using smooth two-dimensional kernel hazard estimators and introduce a new estimator based on the multiplicative bias correction for the multivariate marker dependent hazard. The multiplicative bias correction appears to have great potential for estimating mortality rates at the highest ages. We also observe that mortality continues to increase at an exponential rate even in old-age.

Phased Retirement For Defined Benefit Plan Participants, Patricia L. Scahill, Jonathan Barry Forman

Journal of Actuarial Practice (1993–2006)

The demographic makeup of the U.S. workforce is changing. The population between ages SS and 64 is projected to increase significantly by 2020, but employment rates for this age group have not been increasing. Employers will likely need to encourage critical employees in this age group to delay retirement. Phased retirement is one tool for delaying retirement, while also not continuing full-time employment, so it can be a compromise for employers and employees. Both Congress and two administrative agencies have begun to consider changes in pension laws and regulations that would be needed to accommodate phased retirement for employers who …

The Actuarial Value Of Life Insurance Backdating, James M. Carson, Krzysztof Ostaszewski

Journal of Actuarial Practice (1993–2006)

Backdating is a common (and legal) practice in the U.S. whereby a life insurance contract bears a policy date that is prior to the actual application date. This practice often results in the opportunity for some insureds to reduce the annual premium paid. Using cash flow projections and U.S. mortality, lapse, and interest rate data, we provide a model of the actuarial value of term life insurance backdating. Results indicate that the benefits to the applicant of backdating a term life insurance policy increase as the applicant age (and hence premium) increases. Increasing mortality, lapse, and interest rates, as well …

Credibility Theory And Geometry, Elias S.W. Shiu, Fuk Yum Sing

Journal of Actuarial Practice (1993–2006)

We present a geometric approach to studying greatest accuracy credibility theory. Our main tool is the concept of orthogonal projections. We show, for example, that to determine the Buhlmann credibility premium is to find the coefficients of the minimum-norm vector in an affine space spanned by certain orthogonal random variables. Our approach is illustrated by deriving various common credibility formulas. Several equivalent forms of the credibility factor Z are derived by means of similar triangles.

Product Innovation In Financial Services: A Survey, Christopher O'Brien

Journal of Actuarial Practice (1993–2006)

This paper considers product innovation in insurance and other financial services, an area where actuaries have an important role. It considers the proposition that there is no unique formula for success and that what works well in one situation may not work well in another. It first examines the sources of ideas for new products and, in particular, the role played by consumers, which is generally regarded as weak. It then looks at how ideas are implemented, with particular importance attributed to cross-functional teams and the formality of the product development process. Then it considers how success is measured (with …

Estimation Of Complete Period Life Tables For Singaporeans, Siu-Hang Li, Wai-Sum Chan

Journal of Actuarial Practice (1993–2006)

Complete period life tables, with death rates for every year of age, are not available in Singapore. This study constructs such tables for Singaporeans from the limited mortality information contained in the abridged life tables provided by the Singapore Department of Statistics. We find that linear interpolation, Whittaker graduation, and the Coale-Kisker method together can generate complete life tables that are smooth and continuous. The validity of the complete life tables generated by our method is further confirmed by (1) comparing the life expectancies calculated from our estimated life tables with those provided by the Singapore Department of Statistics, and …

Brochure: Fast Guides Women’S Health, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Perspectives Winter 2004, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Winter 2004 employee newsletter published quarterly for employees of Blue Cross and Blue Shield of Florida.

Leadership Florida Network News-2004 Annual Conference Special Edition, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A Leadership Florida Newtwork News about the 2004 Annual Conference Special Edition.

Manual: Blue Cross And Blue Shield Of Florida, Brunson Enterprises And Robin Shepherd Group-Image Award Entry, Charitable Initiative, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Manual: Blue Cross and Blue Shield of Florida, Brunson Enterprises and Robin Shepherd Group-Image Award Entry, Charitable Initiative.

2004 Blue Cross And Blue Shield Of Florida 60th Anniversary Historical Calendar, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

2004 calendar printed to celebrate Blue Cross and Blue Shield of Florida’s 60th Anniversary.

2004 Covering America: 75 Years And Counting Historical Calendar, Blue Cross And Blue Shield Association

Florida Blue Archives Printed Materials

2004 calendar printed to celebrate national Blue Cross and Blue Shield Plans’ 75th Anniversary.

Blue Cross And Blue Shield Of Florida Report To The Community And The Blue Foundation Annual Report, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Annual company report to the community for 2004 detailing Blue Cross of Florida's The Blue Foundation for a Healthy Florida's charitable initiatives, community involvement, business operations, financial assets and expenditures, and executive leadership.

2004 Educational Programs: A Listing Of Blue Cross And Blue Shield Association Programs, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Listing of 2004 conferences, training and educational programs hosted by Blue Cross and Blues Shield Association (BCBSA).

Bcbsa Blue Annual 2004, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

BCBSA Blue Annual 2004.

Packet: Bluecross Blueshield Of Florida – Developing. Nurturing. Maintaining: Relationships, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Contains: Open Letter from Reneé Finley re: Blue Cross and Blue Shield of Florida’s Alliance Management Program, Booklet: Alliance Management Procedures More Successful Outcomes, Article: Boehm, Elizabeth W. “Forrester’s Top 10 Healthcare Predictions for 2005.” Trends, Article: Weiss, Jeff and Jonathan Hughes. “Want Collaboration? Accept—and Actively Manage—Conflict.” Harvard Business Review, Article: Ertel, Danny. “Getting Past Yes: Negotiating as of Implementation Mattered.” Harvard Business Review, Article: Booth, Bridget and Matt McCredie. “Taking steps toward ‘Getting to Yes’ at Blue Cross and Blue Shield of Florida.” Academy of Management Executive, Vol. 18, No. 3.

Blue Cross Blue Shield Association 2004 Blue Plan Health Promotion Programs, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Blue Cross Blue Shield Association 2004 Blue Plan Health Promotion Programs.