Editor’s Note: In the last issue of The Messenger David Wylde and Michael Failor examined “why” companies are designing and implementing stochastic models to project death claims. Now they turn to the “how’s,” by examining closely one modeling approach. In the June edition of The Messenger, we discussed the increasing use of stochastic models in the actuarial arena, along with the benefits these models can provide. In this article we discuss the design and implementation of a practical model for stochastically projecting death claims from a fully underwritten term life insurance portfolio.
- David N. Wylde, Michael Failor
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