Stochastic Models in Life Insurance

• Main Author: Koller, Michael (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2012.
• Series: EAA Series,
• Subjects: Mathematics.; Game theory.; Probabilities.; Statistics.; Probability Theory and Stochastic Processes.; Game Theory, Economics, Social and Behav. Sciences.; Statistics for Business/Economics/Mathematical Finance/Insurance.
• Physical Description: XI, 219 p. 41 illus., 33 illus. in color. online resource.
• ISBN: 9783642284397
• ISSN: 1869-6929

The book provides a sound mathematical base for life insurance mathematics and applies the underlying concepts to concrete examples. Moreover the models presented make it possible to model life insurance policies by means of Markov chains. Two chapters covering ALM and abstract valuation concepts on the background of Solvency II complete this volume. Numerous examples and a parallel treatment of discrete and continuous approaches help the reader to implement the theory directly in practice.