Autor según el artículo: de Andrés-Sánchez J; González-Vila Puchades L; Zhang A
Departamento: Gestió d'Empreses
Autor/es de la URV: De Andrés Sànchez, Jorge
Palabras clave: Underwriting Systems Substandard annuity payment Risk classification Regression Mortality Model Liability Insurance Heterogeneity Fuzzy number Fuzzy mortality factor (or multiplier) Fuzzy inference system Frailty Enhanced annuities Determinants
Resumen: © 2020 Elsevier Ltd There is a growing interest in the insurance industry in offering substandard annuities. These annuities, based on medical underwriting, provide a greater pay out than the standard ones to those individuals who are expected to have a lower than average life expectancy. Medically underwritten annuities often involve imprecise or vague information about the individuals such as health status and lifestyle. To address this issue, this paper proposes two approaches based on Fuzzy Sets Theory tools. Firstly, in order to determine substandard annuity payments, fuzzy mortality factors (also known as mortality multipliers) are introduced. These fuzzy mortality factors, modelled by means of triangular fuzzy numbers, can be estimated using conventional statistical confidence intervals. Secondly, by designing a fuzzy inference system, we demonstrate how to obtain the substandard annuity payment based on imprecise or vague personal information about annuitants. Numerical applications based on Spanish mortality data are provided for illustration.
Áreas temáticas: Matemática / probabilidade e estatística Interdisciplinar General engineering General computer science Engineering, industrial Engineering (miscellaneous) Engineering (all) Engenharias iv Engenharias iii Engenharias ii Engenharias i Economia Computer science, interdisciplinary applications Computer science (miscellaneous) Computer science (all) Ciências agrárias i Ciência da computação Administração pública e de empresas, ciências contábeis e turismo
ISSN: 03608352
Direcció de correo del autor: jorge.deandres@urv.cat
Identificador del autor: 0000-0002-7715-779X
Fecha de alta del registro: 2023-02-19
Versión del articulo depositado: info:eu-repo/semantics/acceptedVersion
Enlace a la fuente original: https://www.sciencedirect.com/science/article/abs/pii/S0360835220302096
Referencia al articulo segun fuente origial: Computers & Industrial Engineering. 145 (UNSP 106475):
Referencia de l'ítem segons les normes APA: de Andrés-Sánchez J; González-Vila Puchades L; Zhang A (2020). Incorporating fuzzy information in pricing substandard annuities. Computers & Industrial Engineering, 145(UNSP 106475), -. DOI: 10.1016/j.cie.2020.106475
URL Documento de licencia: https://repositori.urv.cat/ca/proteccio-de-dades/
DOI del artículo: 10.1016/j.cie.2020.106475
Entidad: Universitat Rovira i Virgili
Año de publicación de la revista: 2020
Tipo de publicación: Journal Publications