The lifecontingencies Package: Performing Financial and Actuarial Mathematics Calculations in R
نویسندگان
چکیده
It is possible to model life contingency insurances with the lifecontingencies R package, which is capable of performing financial and actuarial mathematics calculations. Its functions permit one to determine both the expected value and the stochastic distribution of insured benefits. Therefore, life insurance coverage can be priced and portfolios risk-based capital requirements can be assessed. This paper briefly summarizes the theory regarding life contingencies that is based on financial mathematics and demographic concepts. Then, with the aid of applied examples, it shows how the lifecontingencies package can be a useful tool for executing routine, deterministic, or stochastic calculations for life-contingencies actuarial mathematics.
منابع مشابه
The lifecontingencies Package: A Package for Performing Financial and Actuarial Mathematics Calculations in R
It is possible to model life contingency insurances with the lifecontingencies R package, which is capable of performing financial and actuarial mathematics calculations. Its functions permit one to determine both the expected value and the stochastic distribution of insured benefits. Therefore, life insurance coverage can be priced and portfolios risk-based capital requirements can be assessed...
متن کاملSOME COMPUTATIONAL RESULTS FOR THE FUZZY RANDOM VALUE OF LIFE ACTUARIAL LIABILITIES
The concept of fuzzy random variable has been applied in several papers to model the present value of life insurance liabilities. It allows the fuzzy uncertainty of the interest rate and the probabilistic behaviour of mortality to be used throughout the valuation process without any loss of information. Using this framework, and considering a triangular interest rate, this paper develops closed...
متن کاملArtificial Neural Network Model for Predicting Insurance Insolvency
In addition to its primary role of providing financial protection for other industries the insurance industry also serves as a medium for fund mobilization. In spite of the harsh economic environment in Nigeria, the insurance industry has been crucial to the consummation of business plans and wealth creation. However, the continued downturn experienced by many countries, in the last decade, se...
متن کاملInvestigating the Effects of Molecular Oxygen Impurity on the Quadrupole Coupling Constants of Boron Nitride Nanotubes: Computational Studies
Density functional theory (DFT) calculations have been performed to investigating the effects of themolecular oxygen impurity on the quadrupole coupling constant (Qcc) parameters of armchair and zigzagboron nitride nanotubes (BNNTs). Optimization processes have been performed to relax the original andimpure structures of the investigated BNNTs. Afterwards, the Qcc parameters have been evaluated...
متن کاملThe devil is in the tails: actuarial mathematics and the subprime mortgage crisis
In the aftermath of the 2007-2008 financial crisis, there has been criticism of mathematics and the mathematical models used by the finance industry. We answer these criticisms through a discussion of some of the actuarial models used in the pricing of credit derivatives. As an example, we focus in particular on the Gaussian copula model and its drawbacks. To put this discussion into its proper...
متن کامل