Deductibles in health insurance

This study is an extension to a simulation study that has been developed to determine ruin probabilities in health insurance. The study concentrates on inpatient and outpatient benefits for customers of varying age bands. Loss distributions are modelled through the Allianz tool pack for different classes of insureds. Premiums at different levels of deductibles are derived in the simulation and ruin probabilities are computed assuming a linear loading on the premium. The increase in the probability of ruin at high levels of the deductible clearly shows the insufficiency of proportional loading in deductible premiums. The PH-transform pricing rule developed by Wang is analyzed as an alternative pricing rule. A simple case, where an insured is assumed to be an exponential utility decision maker while the insurer’s pricing rule is a PH-transform is also treated.     

基于灰色关联分析的财产保险公司偿付能力的模糊综合评判

为解决财产保险公司的偿付能力的评价问题,建立了基于灰色关联分析的模糊综合评判模型.选取了2003-2005年我国8家财产保险公司的相关数据,用灰色关联分析中的点关联系数求解隶属度得出评判矩阵,用范数灰关联度法确定因素集中各因素的权重,从而对其偿付能力进行模糊综合评判,得出各公司的偿付能力所属的类别.并对评语集中各评语赋予适当的权重,对所研究的8家财产保险公司依据其偿付能力的情况进行了排序.     

Computational methods in lattice-subspaces of with applications in portfolio insurance

In this article, we develop a computational method for an algorithmic process first posed by Polyrakis in 1996 in order to check whether a finite collection of linearly independent positive functions in C[a,b] forms a lattice-subspace. Lattice-subspaces are closely related to a cost minimization problem in the theory of finance that ensures the minimum-cost insured portfolio and this connection is further investigated here. Finally, we propose a computational method in order to solve the minimization problem and to calculate the minimum-cost insured portfolio. All of the numerical work is performed using the Matlab high-level language.     

An optimal insurance strategy for an individual under an intertemporal equilibrium

In this paper, we discuss how a risk-averse individual under an intertemporal equilibrium chooses his/her optimal insurance strategy to maximize his/her expected utility of terminal wealth. It is shown that the individual’s optimal insurance strategy actually is equivalent to buying a put option, which is written on his/her holding asset with a proper strike price. Since the cost of avoiding risk can be seen as a risk measure, the put option premium can be considered as a reasonable risk measure. Jarrow [Jarrow, R., 2002. Put option premiums and coherent risk measures. Math. Finance 12, 135-142] drew this conclusion with an axiomatic approach, and we verify it by solving the individual’s optimal insurance problem.     

Applications of a multi-state risk factor/mortality model in life insurance

Mortality rates are known to depend on socio-economic and behavioral risk factors, and actuarial calculations for life insurance policies usually reflect this. It is typically assumed, however, that these risk factors are observed only at policy issue, and the impact of changes that occur later is not considered. In this paper, we present a discrete-time, multi-state model for risk factor changes and mortality. It allows one to more accurately describe mortality dynamics and quantify variability in mortality. This model is extended to reflect health status and then used to analyze the impact of selective lapsation of life insurance policies and to predict mortality under reentry term insurance.     

Notch fatigue of Cu_(50)Zr_(50) metallic glasses under cyclic loading: molecular dynamics simulations

Molecular dynamics simulation is performed to simulate the tension–compression fatigue of notched metallic glasses(MGs), and the notch effect of MGs is explored. The notches will accelerate the accumulation of shear transition zones, leading to faster shear banding around the notches' root causing it to undergo severe plastic deformation. Furthermore, a qualitative investigation of the notched MGs demonstrates that fatigue life gradually becomes shorter with the increase in sharpness until it reaches a critical scale. The fatigue performance of blunt notches is stronger than that of sharp notches. Making the notches blunter can improve the fatigue life of MGs.     

Environmentally benign green composites based on epoxy resin/bacterial cellulose reinforced glass fiber: Fabrication and mechanical characteristics

Bio-based bacterial cellulose (BC) epoxy composites were manufactured and their mechanical properties were examined. The BC was initially fabricated from Vietnamese nata de coco by means of alkaline pretreatment followed by solvent exchange. The obtained fibers were dispersed in epoxy resin (EP) by both mechanical stirring and ultrasonic techniques. The resulting blend was used as the matrix for glass-fiber (GF) composite fabrication using a prepreg method followed by multiple hot-press-curing steps. The morphology, mechanical characteristics and mode-I interlaminar fracture toughness of the fabricated composites were investigated. With a 0.3-wt% BC content, the mode-I interlaminar fracture toughness for both crack initiation and crack propagation were improved by 128.8% and 1110%, respectively. The fatigue life was dramatically extended by a factor of 12, relative to the unmodified composite. Scanning electron microscopy images revealed that the BC plays a vital role in increasing the interlaminar fracture toughness of a GF/EP composite via the mechanisms of crack reflection, debonding and fiber-bridging.     

Determination of reliable fatigue life predictors for magnetorheological elastomers under dynamic equi-biaxial loading

Fatigue life prediction is of great significance in ensuring magnetorheological elastomer (MRE) based rubber components exhibit reliability and do not compromise safety under complex loading, and this necessitates the development of plausible fatigue life predictors for MREs. In this research, silicone rubber based MREs were fabricated by incorporating soft carbonyl iron magnetic particles. Equi-biaxial fatigue behaviour of the fabricated MREs was investigated by using the bubble inflation method. The relationship between fatigue life and maximum engineering stress, maximum strain and strain energy density were studied. The results showed that maximum engineering stress and stored energy density can be used as reliable fatigue life predictors for SR based MREs when they are subjected to dynamic equi-biaxial loading. General equations based on maximum engineering stress and strain energy density were developed for fatigue life prediction of MREs.     

Creep life evaluation of aluminum conductor composite core utilized in high voltage electric transmission

The creep life of aluminum conductor composite core (ACCC) utilized in high voltage electric transmission was investigated using an experimental method based on the equivalence relationship. First, the time-temperature-stress equivalence relationship was developed using the time-temperature and the time-stress equivalence relationships. Then, tensile creep experiments were conducted under different temperatures and different stress levels to obtain the strain-time curves of the ACCC. Finally, the creep strain master curve was obtained using the experimental data based on the time-temperature-stress equivalence relationship, allowing prediction of ACCC creep life. The results will play an important role in evaluation of the long-term characteristics of the ACCC for engineering applications.     

抗磨可靠性寿命的加速试验与预测

在工程实际中，对新机器零件的抗磨可靠性寿命进行评估或预测非常重要，但是，由于磨损是一种受多因素制约的随机过程，目前在实验室广泛采用的模拟磨损试验，不仅周期较长，而且预测误差也比较大。因此，提出了一种在保持磨损机相似的前提下合理选用高ＰＶ值的抗磨可靠性寿命加速试验的新方法。