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Title: A study of actuarial models for insurance based applications
Author: Butt, Zoltan
ISNI:       0000 0004 5357 6628
Awarding Body: City University London
Current Institution: City, University of London
Date of Award: 2014
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Actuarial aspects of two important fields of insurance are considered: calculating personal injury damages for working age adults (liability insurance) and measuring the mortality in insurance based populations (e.g. life insurance and pensions). The contribution of the thesis is to demonstrate a wide array of modelling techniques and their practical implementation in these two key areas of actuarial science. The first part considers the modelling of the labour force dynamics from the perspective of the loss of earnings multipliers in England and Wales. It reviews the estimation methods of involuntary non-participation in the labour market in relation to future loss of earnings. In response, a robust multiple state modelling methodology is developed that allows conditioning on personal characteristics of working age individuals such as disability, educational attainment and the current employment state. Applied to UK longitudinal Labour Force Survey data, it quantifies the disadvantages that plaintiffs with post-injury earnings capacity face in the labour market. This practical modelling framework leads to a set of improved loss of earnings multipliers in subsequent editions of the Ogden Tables now used in the Courts in England and Wales.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available