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Actuarial notation is a shorthand method to allow actuaries to record mathematical formulas that deal with interest rates and life tables. Traditional notation uses a halo system , where symbols are placed as superscript or subscript before or after the main letter.
Triangles within technical analysis are chart patterns commonly found in the price charts of financially traded assets (stocks, bonds, futures, etc.). The pattern derives its name from the fact that it is characterized by a contraction in price range and converging trend lines, thus giving it a triangular shape.
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]
Another example is the use of actuarial models to assess the risk of sex offense recidivism. Actuarial models and associated tables, such as the MnSOST-R, Static-99, and SORAG, have been used since the late 1990s to determine the likelihood that a sex offender will re-offend and thus whether he or she should be institutionalized or set free. [9]
It is primarily used in the property and casualty [5] [9] and health insurance [2] fields. Generally considered a blend of the chain-ladder and expected claims loss reserving methods, [ 2 ] [ 8 ] [ 10 ] the Bornhuetter–Ferguson method uses both reported or paid losses as well as an a priori expected loss ratio to arrive at an ultimate loss ...
Table 1 (Males) and Table 2 (Females) are for life expectancy and loss for life. Tables 3 to 14 are for loss of earnings up to various retirement ages. Tables 15 to 26 are for loss of pension from various retirement ages. Table 27 is for discounting for a time in the future and Table 28 is for a recurring loss over a period of time. [9]
The actuarial present value of an n year pure endowment insurance benefit of 1 payable after n years if alive, can be found as = [> +] = In practice the information available about the random variable G (and in turn T) may be drawn from life tables, which give figures by year. For example, a three year term life insurance of $100,000 payable at ...
The following outline is provided as an overview of and topical guide to actuarial science: Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.