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The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields. Its intent is to estimate incurred but not reported claims and project ultimate loss amounts. [5]
It is generally equal to the actuarial present value of the future cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the total liability of the insurer is the sum of the actuarial reserves for every individual policy.
2003 US mortality table, table 1, page 1Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions.
"Estimated Impact on the Federal Deficit and Insurance Premiums from Creating a New Health Plan Tier with an Actuarial Value Level of 50 Percent" (PDF). Archived from the original (PDF) on 2014-09-08. (Report to the Council for Affordable Health Coverage) Mendelson, Dan (June 27, 2011). "Establishing Sensible Cost Sharing for Medicare Cancer ...
Medication therapy management, generally called medicine use review in the United Kingdom, is a service provided typically by pharmacists, medical affairs, and RWE scientists that aims to improve outcomes by helping people to better understand their health conditions and the medications used to manage them. [1]
Aggregate payment technique (taking the expected value of the total present value): This is similar to the method for a life insurance policy. This time the random variable Y is the total present value random variable of an annuity of 1 per year, issued to a life aged x, paid continuously as long as the person is alive, and is given by:
Eligible customers had until April 15 to claim their share of the $100 million class-action settlement alleging customers who purchased postpaid wireless plans were charged administrative fees ...
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 ]