Milliman consultants wrote a series of articles on first principles modeling for long-term care insurance. The series of articles covers a diverse set of topics, beginning with an introductory case study published in March 2016, continuing with separate installments on modeling of mortality and lapses later in 2016, and concluding earlier this year with a capstone article addressing the advantages and enhancements associated with first principles modeling. This article summarizes the key topics from that series.
This article was originally published in the August 2017 issue of Long-Term Care News.
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First principles modeling for LTC: A series summary
Companies have experienced significant benefits from their first principles models. This article summarizes key topics from a series of articles about first principles modeling for long-term care insurance.
Andrew Dalton, Daniel Nitz, Allen Schmitz, David Weizeorick