Generalized linear model (GLM) to determine life insurance premiums

N. Naufal, S. Devila, D. Lestari

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Every individual has different mortality rates which affected by the underwriting factor. Underwriting factor is an observable factor. In this paper, we use the Generalized Linear Model (GLM) which can quantify this factor to determine the mortality rate. The parameters of the model will be estimated by the Maximum Likelihood Estimation (MLE) method. The resulted mortality rate is used to determine life insurance premiums.

Original languageEnglish
Title of host publicationProceedings of the 4th International Symposium on Current Progress in Mathematics and Sciences, ISCPMS 2018
EditorsTerry Mart, Djoko Triyono, Ivandini T. Anggraningrum
PublisherAmerican Institute of Physics Inc.
ISBN (Electronic)9780735419155
DOIs
Publication statusPublished - 4 Nov 2019
Event4th International Symposium on Current Progress in Mathematics and Sciences 2018, ISCPMS 2018 - Depok, Indonesia
Duration: 30 Oct 201831 Oct 2018

Publication series

NameAIP Conference Proceedings
Volume2168
ISSN (Print)0094-243X
ISSN (Electronic)1551-7616

Conference

Conference4th International Symposium on Current Progress in Mathematics and Sciences 2018, ISCPMS 2018
Country/TerritoryIndonesia
CityDepok
Period30/10/1831/10/18

Keywords

  • Generalized linear model
  • life insurance premium
  • maximum likelihood estimation
  • mortality rate

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