Search results
Results from the WOW.Com Content Network
Hattendorff's Theorem, attributed to K. Hattendorff (1868), is a theorem in actuarial science that describes the allocation of the variance or risk of the loss random variable over the lifetime of an actuarial reserve. In other words, Hattendorff's theorem demonstrates that the variation in the present value of the loss of an issued insurance ...
Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. [1] To achieve this, it uses mathematical models in an effort to forecast the ( expected ) number of insurance claims based on past observations.
The actuarial present value (APV) is the expected value of the present value of a contingent cash flow stream (i.e. a series of payments which may or may not be made). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities. The probability of a future ...
Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. What type of thing is actuarial science? [ edit ]
In actuarial science and applied probability, ruin theory (sometimes risk theory [1] or collective risk theory) uses mathematical models to describe an insurer's vulnerability to insolvency/ruin. In such models key quantities of interest are the probability of ruin, distribution of surplus immediately prior to ruin and deficit at time of ruin.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Here is what we know about polio as a disease, its vaccines and the likely number of lives saved through inoculation.
A middle ground of sorts was taken by C. W. Jordan in his Life Contingencies, where he included de Moivre in his section on "Some famous laws of mortality", but added that "de Moivre recognized that this was a very rough approximation [whose objective was] the practical one of simplifying the calculation of life annuity values, which in those ...