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While Halley actually predated much of what is now considered the start of the actuarial profession, he was the first to rigorously calculate premiums for a life insurance policy mathematically and statistically [38] James C. Hickman (1927–2006) American actuarial educator, researcher, and author [71] Oswald Jacoby (1902–1984)
Rate making, or insurance pricing, is the determination of rates charged by insurance companies. The benefit of rate making is to ensure insurance companies are ...
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
Actuarial credibility describes an approach used by actuaries to improve statistical estimates. Although the approach can be formulated in either a frequentist or Bayesian statistical setting, the latter is often preferred because of the ease of recognizing more than one source of randomness through both "sampling" and "prior" information.
present value adjustment using actuarial rate, prices index,... base insurance premium correction, underwriting policy evolution, clauses application 'as if' data, calcul of the 'as if' historical reinsurance indemnity, Reinsurance pure premium rate computing, add charges, taxes and reduction of treaty
A net premium valuation is an actuarial calculation, used to place a value on the liabilities of a life insurer. Background
Often, limited data is available to determine appropriate charges for high limits of insurance. In order to price policies with high limits of insurance adequately, actuaries may first determine a "basic limit" premium and then apply increased limits factors. The basic limit is a lower limit of liability under which there is a more credible ...
Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. What type of thing is ...