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Journal articles on the topic 'Rate of insurance premiums'

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Published: 28 May 2022

Last updated: 31 July 2025

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1

Silalahi, Romaito Br. "PENENTUAN PREMI ASURANSI JIWA BERJANGKA SINGLE LIFE MENGGUNAKAN MODEL COX-INGERSOLL-ROSS (CIR)." STATMAT : JURNAL STATISTIKA DAN MATEMATIKA 4, no. 1 (2022): 1–8. http://dx.doi.org/10.32493/sm.v4i1.8411.

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Premium is an amount of money that must be paid by the customer at a certain time based on an insurance policy. This study aims to determine the value of single life term life insurance premiums using the Cox-Ingresoll-Ross (CIR) interest rate model. There are differences in the value of men's and women's premiums from the calculation of single life term life insurance premiums using the CIR interest rate model. The value of the premium paid by men is more expensive than the value of the premium paid by women. The premium value for men is greater than 1.5 times the premium value for women.Key

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Napitupulu, Normalina, and Julia Kartika Hasibuan. "Implementation of Makeham Mortality Law for Calculation of Term Life Insurance Premium Using Coxx Ingersol Ross (CIR) Model." Journal of Mathematics Technology and Education 3, no. 1 (2024): 43–49. https://doi.org/10.32734/jomte.v3i1.16724.

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Life insurance is an agreement between policyholders and insurance companies,which guarantees to other family members to survive well. There are three types of lifeinsurance that are known in the insurance industry, namely Term Life (term liffe), Whole Life(whole life), and Dual Purpose (dual purpose). Term life insurance is insurance that has theadvantage that term life insurance premiums are generally more affordable than other types of life insurance and the duration of protection can be adjusted to the needs. Customers who take out insurance must pay a premium in accordance with an approve

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3

Aprijon, Aprijon. "Annual Premium of Life in Insurance with Uniform Assumptions." Science, Technology and Communication Journal 1, no. 2 (2021): 67–73. http://dx.doi.org/10.59190/stc.v1i2.191.

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This Study discusses life insurance for life with a uniform assumption method. The purpose of this study is to calculate the annual premium that must be paid by life insurance participants. This research was conducted at the General Insurance Group company, which is located on the street Arifin Ahmad. To determine the annual life insurance premium, the interest rate and discount factor, initial lifetime annuity, single premium, and the annual premium. After doing the research, the results of the calculation of the annual premium for life insurance for life using uniform assumptions for each pa

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4

Szymańska, Anna. "THE APPLICATION OF BŰHLMANN-STRAUB MODEL TO THE ESTIMATION OF NET PREMIUM RATES DEPENDING ON THE AGE OF THE INSURED IN THE MOTOR THIRD LIABILITY INSURANCE." Statistics in Transition new series 18, no. 1 (2017): 151–65. http://dx.doi.org/10.59170/stattrans-2017-008.

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One of the basic variables used in the process of tariff calculation of premiums in motor liability insurance is the age of the insured. In this type of insurance offered by insurers operating on the Polish market, this variable is taken into account in the ratemaking by discounts and increases in assigned premium, known as the net premiums rates. The aim of this work is to propose a method of rate estimation of net premiums in the groups of the motor third liability insurance portfolio of individuals created by the age of the insured. For the premium estimation, one of the maximum likelihood

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Purwandari, Titi, Yuyun Hidayat, Sukono, Kalfin, Riza Andrian Ibrahim, and Subiyanto. "Development of the Black–Scholes Model for Determining Insurance Premiums to Mitigate the Risk of Disaster Losses Using the Principles of Mutual Cooperation and Regional Economic Growth." Risks 12, no. 7 (2024): 110. http://dx.doi.org/10.3390/risks12070110.

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The frequency and economic damage of natural disasters have increased globally over the last two decades due to climate change. This increase has an impact on the disaster insurance field, particularly in the calculation of premiums. Many regions have a shortcoming in employing insurance because the premium is too high compared with their budget allocation. As one of the solutions, the premium calculation can be developed by applying the cross-subsidies mechanism based on economic growth. Therefore, this research aims to develop premium models of natural disaster insurance that uniquely involv

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Oktavia handayani and Hendra cipta. "Analysis Of Future Health Insurance Premium Reserve Calculations Using The Commissioners Method With Woolhouse Formula." EduMatSains : Jurnal Pendidikan, Matematika dan Sains 9, no. 1 (2024): 211–22. http://dx.doi.org/10.33541/edumatsains.v9i1.5933.

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A premium reserve is the amount of funds that the insurance company needs to prepare for the payment of liability benefits when a claim occurs. One method of calculating premiums is the commissioners method which is an extension of the prospective reserve method.The main factor in the actuarial calculation is the mortality rate that can be determined using the WOOLHOUSE mortality law. This study aims to determine the size of the life insurance premiums reserve using the commisioners method and the WOLHOUSE mortality laws. The calculation of the premium reserve is linked to the determination of

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Widana, I. Nyoman, Ni Luh Putu Suciptawati, and Sulma. "Study and Analysis ofCredit Life Insurance Premiums forLoans withFlatand Effective Interest Rate." International Journal of Advances in Scientific Research and Engineering 11, no. 04 (2025): 42–48. https://doi.org/10.31695/ijasre.2025.4.3.

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Credit life insurance is a type of life insurance designed to pay off a borrower's remaining debt in the event of their death. It is a collaborative product between a bank and an insurance company, offering the benefit of loan repayment to the bank in the event of the death of the borrower (debtor). The repayment includes the outstanding debt and accrued interest. This study aims to analyze credit life insurance premiums for loans with flat and effective interest rates, and explore how the borrower's age and loan term affect these premiums. The bank offers loans with a fixed interest rate of 1

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8

Marola, Geby, Neva Satyahadewi, and Wirda Andani. "APPLICATION OF THE BLACK SCHOLES METHOD FOR COUNTING AGRICULTURAL INSURANCE PREMIUM PRICE BASED ON RAINFALL INDEX IN KAPUAS HULU REGENCY." BAREKENG: Jurnal Ilmu Matematika dan Terapan 17, no. 2 (2023): 0819–26. http://dx.doi.org/10.30598/barekengvol17iss2pp0819-0826.

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High-intensity rainfall is one of the factors that can interfere with the state of agriculture. Agricultural insurance is an insurance that can be used to reduce risks related to agricultural losses such as rice production. Climate-based agricultural insurance is a management of climate-related risks. This study aims to determine the rainfall index and calculate the value of agricultural insurance premiums based on the climate index (rainfall) in Kapuas Hulu Regency using the Black Scholes method. In calculating the value of agricultural insurance premiums based on the rainfall index, it start

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Indratno, Sapto Wahyu, Yeftanus Antonio, and Suhadi Wido Saputro. "Adjusting cyber insurance premiums based on frequency in a communication network." International Journal of Advances in Intelligent Informatics 7, no. 3 (2021): 237. http://dx.doi.org/10.26555/ijain.v7i3.698.

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This study compares cyber insurance premiums with and without a communication network effect frequency. As a cybersecurity factor, the frequency in a communication network influences the speed of cyberattack transmission. It means that a network or a high activity node is more vulnerable than a network with low activity. Traditionally, cyber insurance pricing considers historical data to set premiums or rates. Conversely, the network security level can evaluate using the Monte Carlo simulation based on the epidemic model. This simulation requires spreading parameters, such as infection rate, r

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10

Xie, Shengkun, Rebecca Luo, and Yuanshun Li. "Exploring Industry-Level Fairness of Auto Insurance Premiums by Statistical Modeling of Automobile Rate and Classification Data." Risks 10, no. 10 (2022): 194. http://dx.doi.org/10.3390/risks10100194.

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The study of actuarial fairness in auto insurance has been an important issue in the decision making of rate regulation. Risk classification and estimating risk relativities through statistical modeling become essential to help achieve fairness in premium rates. However, because of minor adjustments to risk relativities allowed by regulation rules, the rates charged eventually may not align with the empirical risk relativities calculated from insurance loss data. Therefore, investigating the relationship between the premium rates and loss costs at different risk factor levels becomes important

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PRADIPTA, YOGI, I. NYOMAN WIDANA, and YOHANES BAMBANG SUGIARTO. "PENGARUH PERUBAHAN SUKU BUNGA TERHADAP PERHITUNGAN PREMI NETO TAHUNAN ASURANSI KESEHATAN INDIVIDU." E-Jurnal Matematika 2, no. 3 (2013): 17. http://dx.doi.org/10.24843/mtk.2013.v02.i03.p043.

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Health insurance is a type of insurance product that specifically guarantees for health care or treatment. Individual and collective health insurance are the two categories of health insurance. Estimated premiums are determined according to death rate, sex, age, level of interest and administration costs. The interest rate relied on may vary between insurers. This study used three different interest rates for the calculation of annual net premium on individual health insurance based on RP-2000 Male & Female Combined Healthy Table and the Indonesian Mortality Table (TMI) 1999. The results i

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Lestari, Fuji, and Nur Alvyanti Sumarna. "PENERAPAN MODEL RANTAI MARKOV DALAM PERHITUNGAN PREMI ASURANSI LONG TERM CARE UNTUK PENYAKIT JANTUNG DI PULAU SUMATERA." Jurnal Lebesgue : Jurnal Ilmiah Pendidikan Matematika, Matematika dan Statistika 5, no. 3 (2024): 1701–17. https://doi.org/10.46306/lb.v5i3.750.

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Health insurance is insurance that provides health benefits in the form of cash compensation for medical and treatment costs. One of the health insurance products is Long Term Care (LTC) insurance. Long Term Care insurance provides compensation for the insured who requires medical care or for those suffering from chronic illnesses or physical disabilities that cannot be covered by other insurance. This study discusses the calculation of premiums for heart disease, including hypertension and diabetes, for the LTC insurance product Annuity as a Rider Benefit using a multi-state model application

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13

Faturachman, Faturachman, Suyitno Suyitno, and Nanda Arista Rizki. "Penentuan Cadangan Premi Asuransi Jiwa Dengan Metode Fackler." EKSPONENSIAL 13, no. 1 (2022): 19. http://dx.doi.org/10.30872/eksponensial.v13i1.876.

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Insurance is an agreement between two parties, where one party is obliged to pay and the other party has the obligation to provide compensation to the premium payer if something happens to the party in accordance with the agreement that has been made. The main problem faced by insurance companies is that the fees paid through premiums are not sufficient to finance compensation payments at the beginning of the policys, To overcome the shortage of costs the insurance company must have a reserve fund called a premium reserve. The purpose of this study was to determine the reserve for term, endowm

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14

Kalfin, Sukono, Sudradjat Supian, and Mustafa Mamat. "Model for Determining Insurance Premiums Taking into Account the Rate of Economic Growth and Cross-Subsidies in Providing Natural Disaster Management Funds in Indonesia." Sustainability 15, no. 24 (2023): 16655. http://dx.doi.org/10.3390/su152416655.

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Natural disasters are increasing due to climate change, which is causing economic losses for countries affected by them. Disaster management funds need to be provided, including through purchasing insurance. Determining natural disaster insurance premiums needs to involve consideration of the geographical conditions of the country. The aim of this research was to develop a model for determining natural disaster insurance premiums using the jumping processes method and a cross-subsidy system. The model takes into account the level of economic growth and the natural disaster potential index. The

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15

Satyahadewi, Neva, Hani Dwi Retnani, Hendra Perdana, Ray Tamtama, and Siti Aprizkiyandari. "PREMIUMS CALCULATION OF TERMINAL ILLNESS INSURANCE." BAREKENG: Jurnal Ilmu Matematika dan Terapan 17, no. 2 (2023): 0913–18. http://dx.doi.org/10.30598/barekengvol17iss2pp0913-0918.

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One related type of critical illness insurance is Long Term Care (LTC) Insurance. This study discusses the calculation of LTC insurance premiums with an annuity as a rider benefit. The benefit is included the cost of insurance care when diagnosed with a critical illness with a terminal condition or death because of any reason. The types of critical illnesses used in this study are cancer, heart disease, stroke, and diabetes mellitus. The data used are in the form of Indonesia's mortality table, and data on the prevalence of critical illness patients with terminal illness conditions. The net an

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16

Fadun, Olajide Solomon, Sunday Adekunle Aduloju, and Mfon Sampson Ukpong. "Fire Risk Transfer and the Nigerian Economy (1999-2019)." Studies in Business and Economics 27, no. 1 (2024): 5–21. http://dx.doi.org/10.29117/sbe.2024.0146.

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This study was conducted to assess fire risk transfer and its impact on the Nigerian economy over the period 1999 to 2019. It was borne out of the incessant fire outbreaks in the country in recent times which has led to an increase in fire risk premiums in the Nigerian insurance industry. The specific objectives were to investigate the trend of fire risk premium and real gross domestic product (RGDP) and assess the impact of fire risk premium on RGDP in Nigeria. The ex-post facto research design was adopted and the population consisted of all insurance companies covering fire risk as of 2019.

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Zurita L., Salvador. "Risk-Based Premiums for Pension Insurance." Estudios de Administración 3, no. 1 (2020): 35. http://dx.doi.org/10.5354/0719-0816.1996.56706.

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The present paper develops a model to compute risk-based premiums for the USA pension insurance administered by the public Pension Benefit Guaranty Corporation (PBGC). Pension insurance is shown to he analogous to a financial put option, and pricing equations and their analytical solutions are obtained. The model includes costly audits that follow a Poisson process, whose average frequency is determined by the policymaker in order to attain Pareto-optimality. The model is estimated for a sample of us firms for the period ¡982-1986. The main policy implication is that risk-based premium rales i

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18

Amanda, Citra, and Ananta Dian Pradipta. "Risk-Based Premiums of Insurance Guarantee Schemes: A Machine-Learning Approach." Journal of Indonesian Economy and Business 39, no. 2 (2024): 121–42. http://dx.doi.org/10.22146/jieb.v39i2.9323.

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Introduction/Main Objectives: This study explores the application of machine-learning techniques to risk-based premium calculations for insurance guarantee schemes within the Indonesian insurance market. This study aims to develop a risk-based premium calculation model using machine-learning techniques in the Indonesian context. Background Problems: A gap exists in determining risk-based premiums for both the life and non-life insurance sectors within the Indonesian insurance market. Identifying and understanding the key variables that significantly influence risk-based capital (RBC) is import

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19

Sitepu, Sanfriska Br. "PENENTUAN PREMI ASURANSI BERJANGKA LAST SURVIVOR UNTUK KASUS DUA ORANG TERTANGGUNG." STATMAT : JURNAL STATISTIKA DAN MATEMATIKA 3, no. 2 (2021): 98–103. http://dx.doi.org/10.32493/sm.v3i2.10217.

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Insurance is an agreement between the insurance service company and the policyholder as the insured party. The insured party will pay the premium as agreed upon to the insurance service provider. Insurance in Indonesia has developed rapidly, one of which is the last survivor term insurance. In this study, the determination of the last survivor insurance premium with a tenor of 10 years for the case of two insured persons aged 70 and 20 years respectively using the Indonesian mortality table in 2019. The first case, the two insureds are male and the second case, the two insured are female. The

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Namawejje, Hellen, and Katamba Geofrey. "Forecasting Life Insurance Premiums and Insurance Penetration Rate in Uganda." International Journal of Scientific and Research Publications (IJSRP) 10, no. 05 (2020): 708–18. http://dx.doi.org/10.29322/ijsrp.10.05.2020.p10181.

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Lu, Yue, Octavio A. Ramirez, Roderick M. Rejesus, Thomas O. Knight, and Bruce J. Sherrick. "Empirically Evaluating the Flexibility of the Johnson Family of Distributions: A Crop Insurance Application." Agricultural and Resource Economics Review 37, no. 1 (2008): 79–91. http://dx.doi.org/10.1017/s1068280500002161.

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This article examines the flexibility of the Johnson system of distributions by assessing its performance in terms of modeling crop yields for the purpose of setting actuarially fair crop insurance premiums. Using data from corn farms in Illinois coupled with Monte Carlo simulation procedures, we found that average crop insurance premiums computed on the basis of the Johnson system provide reasonably accurate estimates even when the data are normal or come from a non-normal distribution other than the Johnson system (i.e., a beta). These results suggest that there is potential for using the Jo

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22

Asnawi, S. K. "How to Determine Deposit Insurance Premium: A Book Value Approach." Finance: Theory and Practice 28, no. 6 (2025): 34–48. https://doi.org/10.26794/2587-5671-2024-28-6-34-48.

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The purpose of the study is to propose a new model for determining insurance premiums on deposits. As of today, there are two models: the first is theoretical, using market value (option theory), and the second is practical, using book value and, as a rule, a fixed rate. Market value cannot be applied as it does not reflect banking risk, while the use of book value is considered mandatory without any theoretical justification.This paper proposes a new model, namely the Asnawi Model with three advantages, namely: (1) based on book value, (2) considering the bank’s risk-return (fair premium); an

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23

Perdana, Hendra, Neva Satyahadewi, Dadan Kusnandar, and Ray Tamtama. "MULTI-STATE MODEL FOR CALCULATION OF LONG-TERM CARE INSURANCE PRODUCT PREMIUM IN INDONESIA." BAREKENG: Jurnal Ilmu Matematika dan Terapan 16, no. 4 (2022): 1293–302. http://dx.doi.org/10.30598/barekengvol16iss4pp1293-1302.

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Long Term Care (LTC) insurance is a type of health insurance. One of the LTC products is Annuity as A Rider Benefit. This insurance provides benefits for medical care costs during the term and death benefits if the insured dies. This insurance product can be modeled with a multi-state model. The multi-state model is a stochastic process in which the subject can switch states at a specified number of states. This paper discusses the calculation of LTC insurance premiums with the Annuity as A Rider Benefit product using a multi-state model for critically ill patients in Indonesia. The state used

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Kousky, Carolyn, Brett Lingle, and Leonard Shabman. "The Pricing of Flood Insurance." Journal of Extreme Events 04, no. 02 (2017): 1750001. http://dx.doi.org/10.1142/s2345737617500014.

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Despite the availability of flood insurance in the US through the National Flood Insurance Program (NFIP), many homeowners at risk of floods are not insured. The program went deeply into debt after Hurricane Katrina in 2005 and Congress adopted multiple reforms to NFIP rate setting in 2012 and 2014. In response to the ongoing concern about the cost of NFIP policies, as well as multiple misunderstandings about NFIP rates, we simulate NFIP premiums for a sample of homes by constructing a premium calculator based on FEMA rating tables. These simulations highlight several aspects of NFIP rating in

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Emms, Paul, and Steven Haberman. "Pricing General Insurance Using Optimal Control Theory." ASTIN Bulletin 35, no. 02 (2005): 427–53. http://dx.doi.org/10.2143/ast.35.2.2003461.

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Insurance premiums are calculated using optimal control theory by maximising the terminal wealth of an insurer under a demand law. If the insurer sets a low premium to generate exposure then profits are reduced, whereas a high premium leads to reduced demand. A continuous stochastic model is developed, which generalises the deterministic discrete model of Taylor (1986). An attractive simplification of this model is that existing policyholders should pay the premium rate currently set by the insurer. It is shown that this assumption leads to a bang-bang optimal premium strategy, which cannot be

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Emms, Paul, and Steven Haberman. "Pricing General Insurance Using Optimal Control Theory." ASTIN Bulletin 35, no. 2 (2005): 427–53. http://dx.doi.org/10.1017/s051503610001432x.

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Insurance premiums are calculated using optimal control theory by maximising the terminal wealth of an insurer under a demand law. If the insurer sets a low premium to generate exposure then profits are reduced, whereas a high premium leads to reduced demand. A continuous stochastic model is developed, which generalises the deterministic discrete model of Taylor (1986). An attractive simplification of this model is that existing policyholders should pay the premium rate currently set by the insurer. It is shown that this assumption leads to a bang-bang optimal premium strategy, which cannot be

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ARIASIH, MADE PUTRI, KETUT JAYANEGARA, I. NYOMAN WIDANA, and I. PUTU EKA N. KENCANA. "PENENTUAN CADANGAN PREMI UNTUK ASURANSI PENDIDIKAN." E-Jurnal Matematika 4, no. 1 (2015): 14. http://dx.doi.org/10.24843/mtk.2015.v04.i01.p082.

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This aims of this research is determine the insurance premium reserve for education with retrospective calculations and determine the premium reserves who acquired during the period of guarantee for insurance education. This research observes the premium reserve for persons aged 40 years with a coverage period of 17 years. The secondary data used is an education insurance data product from the insurance company that issued the insurance product. Premium reserve is determined by using the retrospective calculation, the calculation using the annuity value, net single premium value, net annual pr

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Rachman, Muhammad Ibrahim, and Anasya Daffa Pertiwi. "Comparison of Zillmer and Premium Sufficiency Reserve Method using the Vasicek Stochastic Interest Rate Model." Jurnal Matematika Integratif 18, no. 2 (2022): 189. http://dx.doi.org/10.24198/jmi.v18.n2.41918.189-202.

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An accurate calculation of premium reserves will ensure that the insurance company can pay claims. Premium reserves are funds collected by insurance companies which are the difference between the sum insured and the value of payments during the insurance period prepared for claim payments. There are several methods for calculating premium reserves, but the methods that are the focus of this study are the Zillmer method and the Premium Sufficiency method, extensions of the prospective method. This study aims to compare the two methods using the Vasicek model to determine the stochastic interest

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Hamdani, Hanene. "Investigating the Relationship between Insurance and Economic Growth in GCC Countries." Journal of Posthumanism 5, no. 5 (2025): 2213–23. https://doi.org/10.63332/joph.v5i5.1611.

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This piece of research seeks to investigate the relationship between insurance and economic growth in the Gulf Cooperation Council (GCC) countries. It aims to explore how different insurance market indicators, such as insurance penetration, insurance premium, and claims ratio, influence the economic growth of these nations. Also, it employs a set of variables to examine the relationship between GDP growth and insurance in GCC countries. The findings show a positive relationship between insurance penetration, insurance premiums and economic growth. However, the claims ratio and inflation rate e

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Ruppert, Thomas. "Questions and Answers about the National Flood Insurance Program." EDIS 2015, no. 6 (2015): 11. http://dx.doi.org/10.32473/edis-sg139-2015.

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Established by Congress in 1968 because the private market stopped offering flood insurance, the NFIP provides federally backed flood insurance to property owners in participating communities. This 11-page fact sheet covers topics such as: why buy flood insurance, recent changes, flood zones and insurance rate maps, ways to reduce premiums, rate increases for pre-1974 structures, and actions communities can take to lower citizen premiums related to climate change and sea-level rise. Written by Thomas Ruppert and published by the UF Department of Sea Grant, August 2015.

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Wynnie, Illuminata, and Yefan Yefan. "Determination of Premium Reserves for Whole Life Insurance Using the Canadian Method with Varying Premium Payment Periods." International Journal of Applied Sciences and Smart Technologies 7, no. 1 (2025): 169–80. https://doi.org/10.24071/ijasst.v7i1.12283.

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Premium reserves are essential funds prepared by insurance companies, particularly in life insurance, to cover potential future claims. These reserves are calculated based on premiums paid by policyholders and must be sufficient to meet all projected claim-related expenses. A lower reserve implies reduced financial liability and typically correlates with more affordable premium rates for policyholders. This study aims to analyze the determination of premium reserves using the Canadian and Prospective methods in traditional life insurance products, specifically whole life insurance, focusing on

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Isimoya, O. Augustine, and Taiwo Olarinre Oluwaleye. "Analyzing the Impact of Liability Insurance on the Financial Performance of Insurance Companies in Nigeria." Gusau International Journal of Management and Social Sciences 6, no. 3 (2024): 1–21. http://dx.doi.org/10.57233/gijmss.v6i3.1.

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The insurance sector reforms in Nigeria sought to create a strong, diverse, and trustworthy industry that protects insured premiums, actively contributes to the country's economic progress, and participates in worldwide financial systems. Despite this development, insurance business operations and survival have not been impressive, and performance remains alarmingly poor. Therefore, this study investigates the effect of workers' compensation written premiums and workers' compensation claims paid of the chosen insurance companies' return on assets (ROA) in Nigeria. This study is a longitudinal

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Sreedhar, G. Jagath Prasad, and K. K. Suresh. "INSURANCE CLAIM, RENEWAL AND SURPLUS PROCESSES IN DEPENDENT RISK MODEL THROUGH RUIN THEORY." International Journal of Mathematics, Statistics and Operations Research 2, no. 1 (2022): 71–78. http://dx.doi.org/10.47509/ijmsor.2022.v02i01.06.

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The main trust of this research paper is consideration of Insurance claim, renewal and surplus processes in dependent risk model through Ruin theory. Insurance companies maintain prosperity through careful design of premium rates. The premium rates are primarily based on the claims history adjusted to evolving various factors, such as the number of customers and their policies the returns from the investments in the financial market. This allows us to recover the Ruin probabilities theory obtained for general premiums dependent on reserve customers. Compare them with the asymptotic of the equi

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Sukono, Sukono, Dwi Susanti, Fadhilla Ridwan, Riaman Riaman, Elis Hertini, and Jumadil Saputra. "Analyzing the community decision making to purchase pet insurance: Case study of animal lovers in Indonesia." Decision Science Letters 12, no. 1 (2023): 29–40. http://dx.doi.org/10.5267/j.dsl.2022.10.008.

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This study aims to measure people's decision-making to buy their pet insurance and compare it with the amount of insurance premium rates offered. It is important due to the increase in people's income which has triggered the birth of a community of pet lovers as part of the middle-class people’s lifestyle in Indonesia. The survey data was conducted using the Stated Preference (SP) format through questionnaires and interviews to determine the public response to pet insurance premiums. The collected data were analyzed using descriptive methods, decision-making analysis was on the basis of the ch

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Grzebieniak, Andrzej. "Evaluation of Life Insurance Market Development in Poland During the Years 1991-2010." Olsztyn Economic Journal 7, no. 2 (2012): 209–27. http://dx.doi.org/10.31648/oej.3421.

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Radical changes in Poland during the last decade of the 20th c. causednot only a significant acceleration of Poland's economic growth rate but also rapid increase in the importance of insurance for the national economy. The penetration coefficient, i.e. the ratio of the gross premium written to the GDP, which in case of the total premiums increased from 1.83% in 1991 to 3.83% in 2010, and in case of life insurance from 0.26% to 2.31% respectively, is considered one of the synthetic measures of that importance. Although the Polish insurance market is developed far less than the European Union m

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Somerville, R. A. "Insurance, Consumption, and Saving: A Dynamic Analysis in Continuous Time." American Economic Review 94, no. 4 (2004): 1130–40. http://dx.doi.org/10.1257/0002828042002642.

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This paper shows how the demand for non-life insurance interacts with consumption and saving. The analysis is set in continuous time, using the maximum principle. When insurance is actuarially fair, the insurance and consumption decisions are separable. With loaded premiums, and alternatively without insurance, optimal consumption is dynamically related to the growth rate of the loss probability, and a growing loss probability generates precautionary saving. With loaded premiums, less than full insurance is demanded at each instant, and optimal cover varies over time, whether or not the loss p

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Wang, Jing, Zbigniew Palmowski, and Corina Constantinescu. "How Much We Gain by Surplus-Dependent Premiums—Asymptotic Analysis of Ruin Probability." Risks 9, no. 9 (2021): 157. http://dx.doi.org/10.3390/risks9090157.

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In this paper, we generate boundary value problems for ruin probabilities of surplus-dependent premium risk processes, under a renewal case scenario, Erlang (2) claim arrivals, and a hypoexponential claims scenario, Erlang (2) claim sizes. Applying the approximation theory of solutions of linear ordinary differential equations, we derive the asymptotics of the ruin probabilities when the initial reserve tends to infinity. When considering premiums that are linearly dependent on reserves, representing, for instance, returns on risk-free investments of the insurance capital, we firstly derive ex

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Anggraeni, Tini, and Zakiyyatun Nafilah. "The Influence of Internal and External Factors on Profits of Sharia Life Insurance Units in Indonesia (2016-2020 Period)." AL-FALAH : Journal of Islamic Economics 7, no. 2 (2022): 265. http://dx.doi.org/10.29240/alfalah.v7i2.4536.

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Purpose: This study aims to analyze the long-term and short-term impact and influence of premiums, investment returns, inflation and exchange rates on Islamic insurance companies.Design/Method/Approach: This research uses associative which aims to determine the relationship of two or more variables with a quantitative approach. The data collection technique is by using the financial statements of each life insurance company in the sharia business unit. In addition, this study also uses data from government publication reports such as OJK, Bank Indonesia and BPS. The method used is panel data r

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Adams, C., C. Donnelly, and A. Macdonald. "Adverse selection in a start-up long-term care insurance market." British Actuarial Journal 20, no. 2 (2014): 298–347. http://dx.doi.org/10.1017/s1357321714000270.

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AbstractCommon to all previous studies assessing the cost of adverse selection associated with genetics has been the assumption of an established market, i.e., the adverse selectors have been buying insurance at that rate for such a period that premiums have already absorbed it. Their analyses involve calculating the percentage difference between premiums in a market with adverse selection and one without adverse selection. They can shed no light on how the premiums would get to this stage over time and what losses might be incurred in the process. We take the modelling further by outlining a

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Berezina, Svitlana. "Perspectives of accumulation of funds in the accumulative pension insurance system of Ukraine." Investment Management and Financial Innovations 14, no. 2 (2017): 128–38. http://dx.doi.org/10.21511/imfi.14(2).2017.12.

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The pension system existing in Ukraine does not correspond to the modern requirements of society and needs radical reforms in which the main focus should be on the introduction of a mandatory accumulative pension system. It is shown that accumulation of funds in accumulative pension system (APS) requires complex calculations. A model for accumulation of funds in the accumulative pension insurance system used in this paper makes it possible to determine a set of interrelated parameters – insurance premium rates, reasonable insurance periods, the desired rates of profitability, the required amou

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Никифорова, Olga Nikiforova, Мухаметзянов, and Kamil Mukhametzyanov. "INSURANCE CONTRIBUTIONS: CALCULATION AND PAYMENT PROCEDURE." Vestnik of Kazan State Agrarian University 9, no. 1 (2014): 28–32. http://dx.doi.org/10.12737/3803.

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This article describes the calculation and payment of insurance premiums to the Pension Fund, Compulsory Medical Insurance fund and Social Security in 2014. In 2014, amendments, relating to the calculation and payment of insurance premiums to extrabudgetary funds took effect: the basis for assessment were indexed, benefits to certain categories of taxpayers were extended. At the same time, though the size of a fixed fee was reduced for entrepreneurs, which is especially beneficial for small businesses, but they were obliged to pay an additional 1% of the income, exceeding 300 000 rubles

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Taraly, Inggriani Millennia, Neva Satyahadewi, Hendra Perdana, Ray Tamtama, and Siti Aprizkiyandari. "NET SINGLE PREMIUM ON CRITICAL ILLNESS INSURANCE WITH MULTI-STATE MODEL." BAREKENG: Jurnal Ilmu Matematika dan Terapan 17, no. 2 (2023): 0989–94. http://dx.doi.org/10.30598/barekengvol17iss2pp0989-0994.

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The chances of someone getting a disease or suffering from a critical illness are very large, especially when they get older, the chances of getting a critical illness will be higher. A guarantee of the future is indispensable if a person suffers from a critical illness at any time and requires considerable costs to undergo treatment. Insurance is one of the right choices and is beneficial for people with critical illnesses. In this study, the calculation of Critical Illness insurance premiums was carried out to determine the value of premiums that must be paid by a person when suffering from

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Seftiani, Seftiani, Neva Satyahadewi, and Nur'ainul Miftahul Huda. "Penerapan Model Harga Opsi Black Scholes dalam Penentuan Premi Asuransi Jiwa Dwiguna Unit Link." Euler : Jurnal Ilmiah Matematika, Sains dan Teknologi 11, no. 2 (2023): 318–27. http://dx.doi.org/10.37905/euler.v11i2.23049.

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Unit-linked life insurance is one of the most popular insurance products. This product connects the element of protection with investment assets in a product. Regarding option pricing, the Black Scholes model is one method that can be used. The advantage of this model is that it is a call option valuation model and is in great demand among financial associations because the option rate obtained from the calculation of this model is an accurate value. This research aims to determine the premium value of unit-linked endowment life insurance by applying the Black Scholes option pricing model. Thi

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Jeamaon, Aomduan, and Chaiyaporn Khemapatapan. "Development Cyber Risk Assessment for Intrusion Detection Using Enhanced Random Forest." ECTI Transactions on Computer and Information Technology (ECTI-CIT) 18, no. 4 (2024): 429–42. http://dx.doi.org/10.37936/ecti-cit.2024184.256185.

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In cybersecurity, the lack of statistical data on cyber-attacks presents a significant challenge from an insurance perspective, hindering the accurate calculation of insurance premiums, furthermore assessing cybersecurity risk exposure and identifying high-risk threat categories. Effective intrusion detection systems (IDS) are paramount in addressing these issues. This research introduces a sophisticated cyber risk assessment model utilizing the Random Forest classification algorithm, tailored explicitly for IDS, and leverages the comprehensive CIC-IDS 2017 dataset. The central objective was t

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Widana, I. Nyoman, Ni Luh Putu Suciptawati, and Sulma Sulma. "APPLICATION OF THE EQUIVALENCE PRINCIPLE TO THE CALCULATION OF EDUCATION INSURANCE PREMIUMS FOR VILLAGE-OWNED ENTERPRISES (BUMDes)." BAREKENG: Jurnal Ilmu Matematika dan Terapan 18, no. 4 (2024): 2555–62. http://dx.doi.org/10.30598/barekengvol18iss4pp2555-2562.

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Program Education plays a vital role in improving human resources. But on the other hand, education costs are not cheap. For this reason, people need to prepare education funds from an early age. One way is to take part in an education insurance program. This is a business opportunity that a village-owned enterprise (BUMDes) can run by offering education insurance services to the public. This research aims to develop and use programming software to calculate education insurance premiums offered by BUMDes. The method used is The Equivalence Principle method. Based on the case study, the premium

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Alim, Khairul, Gusmi Kholijah, and Meinarisa Meinarisa. "Pembentukkan Tabel Morbiditas Penyakit Kronis Berdasarkan Angka Prevalensi." Limits: Journal of Mathematics and Its Applications 22, no. 1 (2025): 99–108. https://doi.org/10.12962/limits.v22i1.3377.

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A morbidity table is an important mathematical tool in health sciences and actuarial studies, providing an overview of disease rates in a population at a given time. This table offers information on the number of disease cases by age group, type of disease, or geographical region. The values from morbidity tables are used to compare disease rates between populations, evaluate the effectiveness of health programs, and predict future healthcare service needs. In the world of health insurance, morbidity tables play a crucial role in premium pricing calculations. By using specific morbidity tables

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Zhang, Liangchen, and Guangli Yang. "Reducing social security contribution rate on the financial performance of state-owned and non-state-owned manufacturing industries in the post-epidemic era." PLOS ONE 18, no. 6 (2023): e0287596. http://dx.doi.org/10.1371/journal.pone.0287596.

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Social insurance is an essential component of a contemporary social security system since it protects people’s fundamental well-being, but it also incurs a heavy cost for businesses. If social security costs are excessively high, business profitability will suffer, and innovation will be discouraged. The most affected companies would be those in labor-intensive industries and medium-sized enterprises. Chinese businesses have suffered severe losses as a result of the COVID-19 outbreak. Given the circumstance, China enacted additional tax cuts and preferential social insurance premium plans. Thi

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J. Verteramo Chiu, Leslie, and Calum G. Turvey. "Cross market price support and agricultural development." Journal of Risk Finance 15, no. 1 (2014): 33–51. http://dx.doi.org/10.1108/jrf-05-2013-0038.

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Purpose – This paper aims to develop a market-driven mechanism for commodity price insurance in developing countries lacking access to futures markets or other forms of hedging products. Design/methodology/approach – The model incorporates futures, exchange rate and local basis risk under the Black-Scholes framework to develop quanto (quantity adjusting option). When the domestic price of a commodity in a developing country is strongly correlated to the price in a futures market, price support premiums can be estimated. The authors use daily corn futures prices, exchange rate MXP/USD, and pric

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Liliia, Hala. "RESULTS OF ANALYSIS AND FORECASTING OF THE MAIN FINANCIAL INDICATORS OF THE HEALTH INSURANCE MARKET DEVELOPMENT IN UKRAINE." EUREKA: Health Sciences 6 (November 30, 2019): 72–82. https://doi.org/10.21303/2504-5679.2019.001061.

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In recent years Ukraine against the background of systemic crisis trying to reform socially-oriented areas of society, including voluntary health insurance, which must combine market and social burdens. Under these conditions, an important scientific and practical research is forecasting financial indicators of domestic insurance companies. <strong>Aim. </strong>Conducting analysis and forecasting of the basic indicators that characterize the financial state of development of the domestic health insurance market. <strong>Materials and methods. </strong>Research materials were selecte

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Bei, Honghan, Qian Wang, Yajie Wang, Wenyang Wang, and Roberto Murcio. "Optimal Reinsurance–Investment Strategy Based on Stochastic Volatility and the Stochastic Interest Rate Model." Axioms 12, no. 8 (2023): 736. http://dx.doi.org/10.3390/axioms12080736.

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This paper studies insurance companies’ optimal reinsurance–investment strategy under the stochastic interest rate and stochastic volatility model, taking the HARA utility function as the optimal criterion. It uses arithmetic Brownian motion as a diffusion approximation of the insurer’s surplus process and the variance premium principle to calculate premiums. In this paper, we assume that insurance companies can invest in risk-free assets, risky assets, and zero-coupon bonds, where the Cox–Ingersoll–Ross model describes the dynamic change in stochastic interest rates and the Heston model descr

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