Pub Date : 1900-01-01DOI: 10.1017/S0071368600009642
J. McCutcheon
{"title":"Some Elementary Life Table Approximations","authors":"J. McCutcheon","doi":"10.1017/S0071368600009642","DOIUrl":"https://doi.org/10.1017/S0071368600009642","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121491045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600006777
K. McKelvey
{"title":"Pension Fund Finance.","authors":"K. McKelvey","doi":"10.1017/S0071368600006777","DOIUrl":"https://doi.org/10.1017/S0071368600006777","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121600610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600006972
Andrew C. Webster
This Paper outlines the underwriting practice of the life insurance companies in Canada and the United States where, because of the importance of mortality results in the successful operation of a life insurance company, underwriting is considered to be a major executive function. There is a discussion of general underwriting considerations and a more particular discussion of general underwriting practice. This covers the use of an Underwriting Manual, the Numerical Rating System, the use of additional information such as statements from attending physicians, special tests, etc., the question of non-medical insurance and the methods of setting up substandard classes. Mortality investigations of various kinds are considered from the Underwriter's viewpoint which is to test the results of underwriting both in general and on particular impairments. There is a discussion of some current problems such as insuring female lives, insuring hypertensives, and the use of experimental underwriting. The final discussion is on the importance of establishing an underwriting goal for the life insurance company, a goal which should be made clear to the agency force. It also stresses the importance of a good agency force in achieving the desired results.
{"title":"Selection of Risks: American Viewpoint and Practice","authors":"Andrew C. Webster","doi":"10.1017/S0071368600006972","DOIUrl":"https://doi.org/10.1017/S0071368600006972","url":null,"abstract":"This Paper outlines the underwriting practice of the life insurance companies in Canada and the United States where, because of the importance of mortality results in the successful operation of a life insurance company, underwriting is considered to be a major executive function. There is a discussion of general underwriting considerations and a more particular discussion of general underwriting practice. This covers the use of an Underwriting Manual, the Numerical Rating System, the use of additional information such as statements from attending physicians, special tests, etc., the question of non-medical insurance and the methods of setting up substandard classes. Mortality investigations of various kinds are considered from the Underwriter's viewpoint which is to test the results of underwriting both in general and on particular impairments. There is a discussion of some current problems such as insuring female lives, insuring hypertensives, and the use of experimental underwriting. The final discussion is on the importance of establishing an underwriting goal for the life insurance company, a goal which should be made clear to the agency force. It also stresses the importance of a good agency force in achieving the desired results.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"17 1-2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128901030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600008016
A. C. Aitken
{"title":"The Accurate Solution of the Difference Equation Involved in Whittaker's Method of Graduation, and its Practical Application","authors":"A. C. Aitken","doi":"10.1017/S0071368600008016","DOIUrl":"https://doi.org/10.1017/S0071368600008016","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129631533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600007862
D. Whitehead
The paper outlines a system for processing the data of a life office to make efficient use of men and of machines available at the present time. The conditions to be met by an electronic computer and the persons responsible for its operation (systems analysts, programmers and operators) are first considered. The mechanical and manual aspects of the system are then dealt with in turn. After an outline of the problems involved in the institution of the system, the financial and other benefits to be expected are estimated in the light of the experience so far gained. Finally, a brief look is taken at the way in which developments may proceed in the future.
{"title":"A Comprehensive Data Processing System For a Life Office.","authors":"D. Whitehead","doi":"10.1017/S0071368600007862","DOIUrl":"https://doi.org/10.1017/S0071368600007862","url":null,"abstract":"The paper outlines a system for processing the data of a life office to make efficient use of men and of machines available at the present time. The conditions to be met by an electronic computer and the persons responsible for its operation (systems analysts, programmers and operators) are first considered. The mechanical and manual aspects of the system are then dealt with in turn. After an outline of the problems involved in the institution of the system, the financial and other benefits to be expected are estimated in the light of the experience so far gained. Finally, a brief look is taken at the way in which developments may proceed in the future.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"42 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129930824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600009812
N. L. Bowers, H. Gerber, J. C. Hickman, David A Jones, C. Nesbitt
{"title":"Actuarial mathematics. . Actuarial Mathematics by Bowers, Hickman, Gerber, Jones and Nesbitt [Published in 1986 by The Society of Actuaries]","authors":"N. L. Bowers, H. Gerber, J. C. Hickman, David A Jones, C. Nesbitt","doi":"10.1017/S0071368600009812","DOIUrl":"https://doi.org/10.1017/S0071368600009812","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"97 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130899137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600008909
J. McCutcheon
If x 1 x 2 x n and the values of lx 1 , lx 2 ,…, lx n are given, we may wish to estimate the value of the force of mortality at a particular age xi . Two alternative methods of estimation, each used in standard tables, are discussed in some detail. The most general estimates for each method are given by equations (13) and (22) above, the coefficients { c ij } in these equations being defined by equation (11). In the particular case of consecutive ages, the relevant estimates are given by equations (14) and (23). In this case the values of { c ij } for n = 3, 5, 7, and 9 are contained in Tables 1—4 above.
如果已知x 1 x 2 x n和lx 1, lx 2，…，lx n的值，我们可能希望估计特定年龄xi的死亡率的值。详细讨论了标准表中使用的两种可供选择的估计方法。每种方法的最一般估计由上述式(13)和(22)给出，这些方程中的系数{c ij}由式(11)定义。在连续年龄的特殊情况下，相关的估计由式(14)和式(23)给出。在这种情况下，{c ij}对于n = 3,5,7和9的值包含在上面的表1-4中。
{"title":"On Estimating the Force of Mortality.","authors":"J. McCutcheon","doi":"10.1017/S0071368600008909","DOIUrl":"https://doi.org/10.1017/S0071368600008909","url":null,"abstract":"If x 1 x 2 x n and the values of lx 1 , lx 2 ,…, lx n are given, we may wish to estimate the value of the force of mortality at a particular age xi . Two alternative methods of estimation, each used in standard tables, are discussed in some detail. The most general estimates for each method are given by equations (13) and (22) above, the coefficients { c ij } in these equations being defined by equation (11). In the particular case of consecutive ages, the relevant estimates are given by equations (14) and (23). In this case the values of { c ij } for n = 3, 5, 7, and 9 are contained in Tables 1—4 above.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130308604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600006315
J. Young
In contributory group pension schemes it has become customary to arrange for the employee's premiums to be returned, without interest, on the death of the employee, or on his withdrawal before reaching his pension date. It will be agreed that this is of secondary importance in the composition of the scheme; nevertheless its presence does introduce complications to the conduct of the business which are possibly out of proportion to its significance. It is with this aspect that this paper is concerned; it represents an attempt to give the death return a simplified place in the administration of the business which is more in keeping with its importance. The complications mentioned arise from the strict adherence to formulas which make theoretically correct allowance for the death return. The simplifications in administration follow from a simple and natural approximation to the death return, and the extent and practical consequences of the approximation are examined in the paper.
{"title":"Experiments in Connexion with Returnable Premiums in Group Pension Schemes.","authors":"J. Young","doi":"10.1017/S0071368600006315","DOIUrl":"https://doi.org/10.1017/S0071368600006315","url":null,"abstract":"In contributory group pension schemes it has become customary to arrange for the employee's premiums to be returned, without interest, on the death of the employee, or on his withdrawal before reaching his pension date. It will be agreed that this is of secondary importance in the composition of the scheme; nevertheless its presence does introduce complications to the conduct of the business which are possibly out of proportion to its significance. It is with this aspect that this paper is concerned; it represents an attempt to give the death return a simplified place in the administration of the business which is more in keeping with its importance. The complications mentioned arise from the strict adherence to formulas which make theoretically correct allowance for the death return. The simplifications in administration follow from a simple and natural approximation to the death return, and the extent and practical consequences of the approximation are examined in the paper.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130671638","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600009952
J. Brumwell
{"title":"Notes on the “Financial Times”—Actuaries Equity Share Indices in 1989.","authors":"J. Brumwell","doi":"10.1017/S0071368600009952","DOIUrl":"https://doi.org/10.1017/S0071368600009952","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129687823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600003803
H. W. Brown
{"title":"Certificates of Title to Policies of Life Assurance.","authors":"H. W. Brown","doi":"10.1017/S0071368600003803","DOIUrl":"https://doi.org/10.1017/S0071368600003803","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129812754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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