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Commitment and Lapse Behavior in Long-Term …
Commitment and Lapse Behavior inLong-Term insurance : A Case Study Jean Pinquet, Montserrat Guill n, Mercedes Ayuso AbstractThis paper presents a case study of a portfolio of individual Long-Term insur-ance contracts sold by a Spanish mutual company. We describe the risk levels,the rating structure and the implied cross-subsidies on a portfolio of policiesproviding health, life and Long-Term care insurance . We show evidence of re-classification risk through the history of disability spells. We also analyze thelapse Behavior and seek to provide a rationale for the portfolio s dynamics. Wediscuss the lack of Commitment from the policyholders (lapses) and from themutual company (which took a run-offdecision). Finally, we draw conclusionsregarding the design of such IntroductionThis paper presents a case study of a portfolio of individual Long-Term insurancecontracts, sold by a Spanish mutual company.
Commitment and Lapse Behavior in Long-Term Insurance: A Case Study ∗ Jean Pinquet,†Montserrat Guillén, Mercedes Ayuso‡ Abstract This paper presents a case study of a portfolio of individual long-term insur-
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Insurance, Behavior, Lapse, Life Insurance, Life, Lapse behavior, Life Insurance Lapse, LIFE INSURANCE LAPSE BEHAVIOR, Factors Influencing Unethical Behavior of, Factors influencing unethical behavior of insurance, Risk Management of Policyholder Behavior in, Risk Management of Policyholder Behavior in Equity-Linked Life Insurance, Behavior Fedchak, OCTOBER 2017