Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates
Gender is one of the good predictor of risks in insurance and Takaful businesses as it represents the mortality rates of the individuals separately between males and females. However, European countries believed that gender can be omitted and there should not be discrimination towards gender in ins...
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my-usim-ddms-125542024-05-29T04:19:32Z Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates Siti Wafiah Hanin binti Mohd Zulkifli Gender is one of the good predictor of risks in insurance and Takaful businesses as it represents the mortality rates of the individuals separately between males and females. However, European countries believed that gender can be omitted and there should not be discrimination towards gender in insurance practice. Hence, the unisex rate has been enforced and the use of gender in premium pricing is strictly prohibited starting from 21St December 2012 for some European countries. This study intends to develop unisex mortality rates based on the current mortality rates and observe the profitability of the insurer after the implementation of unisex rates towards insurance and Takaful products in Malaysia by using profit testing. This is done by calculating unisex rate and model the profit test by using Visual Basic Programming (VBA). M9903 - Male and M9903- Female will be used to construct the unisex mortality table and the assumptions are set up to compute the insurer's profitability. Profit testing involves few profit measures such as Net Present Value (NPV), Payback Period (PBP) and Profit Margin (PM). The results show positive profit and that companies can consider applying unisex rates in their premium or contribution pricing. Keywords: Insurance and Takaful, Profit Testing, Unisex Rate, Visual Basic Programming Universiti Sains Islam Malaysian 2018-03 Thesis en https://oarep.usim.edu.my/handle/123456789/12554 https://oarep.usim.edu.my/bitstreams/ff53ff18-5ee0-4d79-846d-77b813628f48/download 8a4605be74aa9ea9d79846c1fba20a33 https://oarep.usim.edu.my/bitstreams/1eb8c77e-507c-47d3-868b-00970ff9c0a8/download ee1c454a719d9c0991d16e6afaf56253 https://oarep.usim.edu.my/bitstreams/2ed86ad2-3759-4bf2-88ee-3ff81a8a430d/download a6c76703b5ffd12649cd4e81072bc803 https://oarep.usim.edu.my/bitstreams/4b82fb51-b2b0-4e1e-b9b8-45e1ad7c6b4d/download cfb346a2c4f7ead1417c419a485f19b7 https://oarep.usim.edu.my/bitstreams/7c00edfb-359c-4934-b08b-39c620f4a8df/download 23f6cb9f7d1805db759923fcd1fb1de2 https://oarep.usim.edu.my/bitstreams/f3bbb3b8-e374-44d7-b328-63b1a3bb2f41/download eeca638a21cc8312e8685dd21f9d0d80 https://oarep.usim.edu.my/bitstreams/62030220-3487-404e-abbf-e6f789b1acd5/download 47162502352888e0783fe96dc7edcbf8 https://oarep.usim.edu.my/bitstreams/61bf2c84-47af-451b-bfc7-5e9acf94b847/download a3b553fab6a645474023255e3815c74a Insurance and Takaful, Insurance -- Malaysia Risk Assessment--Insurance |
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Insurance and Takaful, Insurance -- Malaysia Risk Assessment--Insurance Siti Wafiah Hanin binti Mohd Zulkifli Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates |
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Gender is one of the good predictor of risks in insurance and Takaful businesses as
it represents the mortality rates of the individuals separately between males and females. However, European countries believed that gender can be omitted and there should not be discrimination towards gender in insurance practice. Hence, the unisex rate has been enforced and the use of gender in premium pricing is strictly prohibited starting from 21St December 2012 for some European countries. This study intends to develop unisex mortality rates based on the current mortality rates and observe the profitability of the insurer after the implementation of unisex rates towards insurance and Takaful products in Malaysia by using profit testing. This is done by calculating unisex rate and model the profit test by using Visual Basic Programming (VBA). M9903 - Male and M9903- Female will be used to construct the unisex mortality table and the assumptions are set up to compute the insurer's profitability. Profit testing involves few profit measures such as Net Present Value (NPV), Payback Period (PBP) and Profit Margin (PM). The results show positive profit and that companies can consider applying unisex rates in their premium or contribution pricing.
Keywords: Insurance and Takaful, Profit Testing, Unisex Rate, Visual Basic
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Thesis |
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Siti Wafiah Hanin binti Mohd Zulkifli |
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Siti Wafiah Hanin binti Mohd Zulkifli |
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Siti Wafiah Hanin binti Mohd Zulkifli |
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Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates |
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Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates |
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Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates |
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Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates |
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Profit Testing Analysis Of Life Insurance And Family Takaful Products Using Unisex Rates |
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profit testing analysis of life insurance and family takaful products using unisex rates |
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Universiti Sains Islam Malaysian |
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