A Multipe State Model for Pricing and Reserving Private Long Term Care Insurance in Australia
Citations
Altmetric
Author
Leung, EdwardDate
2004University of Melbourne Author/s
LEUNG, EDWARDAffiliation
Economics and Commerce: Centre for Actuarial StudiesMetadata
Show full item recordDocument Type
PreprintCitations
Leung, Edward (2004) A Multipe State Model for Pricing and Reserving Private Long Term Care Insurance in Australia.Access Status
Open AccessAbstract
We seek to develop a model for pricing LTC insurance contracts in Australia using the disability prevalence rates contained in the 1998 Australian Bureau of Statistics (ABS) Survey of Disability, Ageing and Carers. We perform premium and reserve calculations by applying generalisations of Thiele's differential equation for a multiple state model within a Markov framework. Several sets of results are presented that both capture a varying range of possible scenarios and demonstrate the flexibility of the model.
Keywords
long term care; disability; multiple state model; private insurance; Markov Process; Thiele's Differential EquationExport Reference in RIS Format
Endnote
- Click on "Export Reference in RIS Format" and choose "open with... Endnote".
Refworks
- Click on "Export Reference in RIS Format". Login to Refworks, go to References => Import References