Hostname: page-component-78c5997874-xbtfd Total loading time: 0 Render date: 2024-11-04T18:30:05.110Z Has data issue: false hasContentIssue false

Some aspects of the modelling of permanent health insurance

Published online by Cambridge University Press:  20 April 2012

Extract

1.1 The traditional approach in the United Kingdom to the analysis of permanent health insurance (PHI) data and to the rating of PHI business has been the Manchester Unity approach. This approach, which has its origins in Friendly Society business, is in some ways unsuitable for modern PHI business. (An interesting discussion on this subject can be found in Report No. 7 of the Continuous Mortality Investigation Bureau (C.M.I.R. 7, §4 (1984). For this reason the PHI Sub-Committee of the CMIB has recently been investigating the possibility of using a different approach, involving the use of a multiple state model, for analysing PHI data. A full report on the Sub-Committee's investigation will be published soon as C.M.I.R. 10.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1989

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

(1) C.M.I.R. 4 (1979) Report No. 4 of the Continuous Mortality Investigation Bureau. Published by the Faculty of Actuaries and the Institute of Actuaries.Google Scholar
(2) C.M.I.R. 7 (1984) Report No. 7 of the Continuous Mortality Investigation Bureau. Published by the Faculty of Actuaries and the Institute of Actuaries.Google Scholar
(3) Daw, R. H. (1986) A Statistical Study of the Variability of Sickness Data. J.I.A. 113, 103150.Google Scholar
(4) Dillner, C.-G. (1969) New Bases for Non-Cancellable Sickness Insurance in Sweden. Skandinavisk Aktuarietidskrift, 113124.Google Scholar
(5) Hamilton-Jones, J. (1972) Actuarial Aspects of Long-Term Sickness Insurance. J.I.A. 98, 1768.Google Scholar
(6) Medin, K. (1952) Some Theoretical Aspects of Permanent Sickness Insurance. J.S.S. 11, 76103.Google Scholar
(7) Neill, A. (1977) Life Contingencies. Heinemann, London.Google Scholar
(8) Turner, M. (1988) PHI Reserving. A paper presented to the Staple Inn Actuarial Society.Google Scholar
(10) Westwood, W. G. (1972) The Actuarial Aspects of Disability Income Insurance. Transactions of the Institute of Actuaries of Australia and New Zealand, 65111.Google Scholar