Purpose: A claim is always requested at the maturity or occurrence of an event. The a perception influencer and mirror image in relationships between insurers their policyholders. This thus crucial to claims handling process. Therefore, this study aimed assess process explicitly attributed perceptions motor insurance policyholders Lagos, Nigeria. Methodology: adopted cross-sectional survey rese...

The low adoption of insurance by potential policyholders in developing countries like Kenya is a cause for concern insurers, regulators, and other marketing stakeholders. To effectively design targeted strategies to boost adoption, it crucial determine the factors that affect uptake among policyholders. In this study, 2021 FinAccess Survey, which interviewed sampled individuals above 16 years m...

We explore a new framework to approximate life insurance risk processes in the scenario of plentiful policyholders, via a bottom-up approach. Given the insurance contract structure, we aggregate the balance of individual policy accounts, and derive an approximating Gaussian process with computable correlation structure. The methodology is borrowed from heavy traffic theory in the literature of ...

Metropolitan Life Insurance Company. New York: Metropolitan Life Insurance Company, 1943. 8 Czerniawski AM. From average to ideal: the evolution of the height and weight table in the united states, 1836-1943. Social Sci History 2007;31:273–96. 9 James M. The Metropolitan Life: A Study in Business Growth. New York: The Viking Press, 1947. 10 Dublin L, Lotka AJ. Twenty-Five Years of Health Progre...

This paper proposes a discrete-time NCD risk model that incorporates the well-known No Claims Discount (NCD) system (or bonus-malus system (BMS)) in the car insurance industry. Such a system penalises policyholders at fault in accidents by surcharges, and rewards claim-free years by discounts. For simplicity, only two levels of premium are considered in the given model and recursive formulae ar...

Unitisation is the process by which a pool of assets are broken into portions of ownership (units), which are conceptually similar to shares in a company. The process is applied to unit trusts, unitlinked life insurance products and many superannuation products. Instead of investors’ / fund members’ / policyholders’ interests being expressed as a proportion of the underlying pool of assets in w...