This thesis aims to familiarize the reader with the topic of life insurance, especially insurance taken out for more people. Its focus is empirical rather as combining the use of several actuarial and statistical methods through three statistical software and applications created in MS Excel using VBA. First, thesis is focused to multiple life insurance with intention to show reader the diversity of this interesting but rarely offered product in business world, especially through the application created for the purpose of this work. Sense of mentioned application lies in the fact it is able to calculate amount of the net premium for a user-selected type of insurance. Based on this outcome insurer can determine the net price corresponding to the chosen risk coverage (regardless of the amount of the costs associated with this type of insurance and required profitability). Age of insured person isn't usually part of calculation of premium for accident insurance. One of the aims of this study is to assess whether this parameter actually has or doesn't have any effect on the price of insurance. With help of SPSS and RStudio software relationship between age of insured person and amount of indemnification from daily compensation insurance has been researched. Based on the test of variable independence were detected dependencies of these variables where all of which used measure of association suggests a weak dependence amount of indemnification on the age of the insured. It surely worth insurer should consider different insurance rates for various ages of insured person. Following by examination whether the rate used to calculate premiums in case of hospitalization extra insurance corresponds to the actual risk coverage. It has been calculated the rate could be lower than currently used due to the loss experience of insurance for the past 9 years and the assumption of certain expenses and desired profit. It would be cheaper for insurance group contracts than it is today, when the insurer has done so. It could also attract new clientele. The last stated goal in this thesis is to create prognosis of the amount of indemnity paid for injuries covered by additional daily compensation insurance. Using the software EViews is analyzed this trend in the past 32 months first. Based on its outcome there is a future level forecast created for the next four years. These resulting values indicate the insurance indemnity for group contract will grow. Therefore, based on this analysis insurer should to conclude in the contract it would be appropriate to increase the premium of the insurance coverage. With these practical tasks the reader can get idea not only of problems solved in the scope of multiple life insurance and group insurance but also to become familiar with some statistical software used for analyzes carried out not only in the insurance industry. The conclusions of this thesis can also be beneficial for insurer who may adjust premium prices of analyzed insurances.

The diploma thesis deals with innovations selected insurance products and their alternatives. The theoretical part describes the insurance market and development of insurance in the Czech Republic, defines important terms as a coincidence, insured event, insurance products, risk and legal norms in the insurance. In the practical part is an analysis of the selected insurance company and its competitors. On the basis of obtained information are selected insurance products compared. In the proposal part are recommended changes for existing insurance products of the selected insurance company in terms of their content and coverage of risk in the unexpected event. The partial aim is the proposal an alternative insurance product for selected insurance company, which could arise in the future in its range of insurance products.

This thesis object with functioning of present retirement system in the Czech republic and in selected countries. There are described differences of financing and differences of pillars on which are this systems built. Further are in this thesis answered reasons for reforming of this systems. The goal of this thesis is design expert system used to serve to financial advisers for suitable saving product selection according to client requests.

The aim of Master’s thesis is the issue of a life insurance as a tool for stimulation of employees. It includes the current situation analysis of employees insurance in the selected company. It also includes selection and compare of insurance products and proposals or recommendations for their selection to employees of chosen company.

本篇論文要探討的主題為何種總體或個體因素會影響投保人在壽險上的解約行為。由於壽險保單的解約行為會讓保險公司面臨現金流、聲譽、逆選擇等風險，進而影響公司營運。因此探討影響保單解約率之因素，進而準確估計保單的解約率為十分重要的議題。此外，不論投保人主動解約或是被動使保單失效均會對保險公司造成影響，因此本篇論文也將利用不同解約率的計算方式進行實證分析，研究是否不同計算方式的解約率會影響實證結果。本文使用NAIC (National Association of Insurance Commissioners)保險資料庫之年報資料，對2004-2014年間保險公司之經營狀況進行分析，驗證解約率實證中常用的三個假說：市場利率假說、緊急資金假說以及保單替換假說，選用之變數包含失業率、利率、保單替換率、高齡比等變數，並採用固定效果模型作為縱橫資料之迴歸模型，分別對不同計算方式所得之解約率進行迴歸分析，並比較彙整其結果。最後針對結果提出未來研究之建議。 / Insurance companies’ business will be influenced by surrender activities in several aspects, such as cash flow problem and inverse selection problem. Empirical researches show that both macroeconomic variables and microeconomic variables will influence surrender behaviors. Hence, this paper seeks to which kinds of macroeconomic variables will influence surrender activities and investigates whether using different ways to calculate surrender rate will cause different empirical results. All available US insurance company data, ranging from January 2004 to December 2014, are obtained from the annual statement in NAIC (National Association of Insurance Commissioners).We found some evidence supporting Emergency Fund Hypothesis and Interest Rate Hypothesis, but using different ways to calculate surrender rate may cause a little bias in conclusion. However, the relationship between surrender activities and macroeconomic variables supports insurance companies to understand and actively manage lapse/surrender risk.

Thesis (MBA)--Stellenbosch University, 2007. / AFRIKAANSE OPSOMMING: In Februarie 2000 het die Minister van Finansies aangekondig dat die regering besluit het om 'n inflasie teiken van 3 tot 6 persent vir 2002 daar te stel en het dus 'n beleid om 'n bepaalde inflasiekoers na te streef, aangeneem. 'n Eksplisiete lae inflasiekoersteiken is gestel as deel van die regering se ekonomiese beleid. Dit is 'n aanvaarde aanname dat hierdie teikenkoers vir die afsienbare toekoms sal geld. Veranderinge in die inflasiekoers, ongeag of dit na hoer of laer vlakke beweeg, het 'n invloed op hoe bateklasse reageer. Dit is dus belangrik dat beleggers die dinamika van inflasie verstaan en hoe dit beleggingsopbrengste bernvloed. Dit sal hulle help om deurdagte beleggingsbesluite te neem en om realistiese verwagtinge van be leggings - en polisopbrengste te he. Vir verskaffers van beleggingsprodukte in Suid-Afrika, veral die lewensversekeringsindustrie, is daar twee beduidende uitdagings in die huidige omgewing van lae rentekoerse en lae inflasie: om 'n winsgewende kontantvloei te genereer en om aan kliente se verwagtinge te valdoen. Volgens kliente is daar in die onlangse verlede nie aan hul verwagtinge valdoen nie, aangesien il1lustratiewe uitkeerwaardes wat gekwoteer is toe die polis uitgeneem is, nie geldig is in die huidige lae-inflasie omgewing nie. Kliente is ook teleurgesteld met huidige nomina Ie opbrengste wat laer is wat voorheen bereik is. Alhoewe[ dit algemeen aanvaar word dat 'n lae en stabiele inflasiekoers 'n voorvereiste is vir volhoubare ekonomiese groei en vooruitgang. verander dit die beleggingsomgewing vir private beleggers, verskaffers van beleggingsprodukte en beheerliggame. Hierdie verslag ondersoek die impak van lae inflasie op beleggingsopbrengste asook die implikasie daarvan vir beleggers, beleggingsproduk-verskaffers en beheerliggame in die finansiele dienstesektor in Suid-Afrika.

Thesis (PhD (Accounting))--University of Stellenbosch, 2005. / ENGLISH ABSTRACT: The South African long-term insurance industry is currently believed to be at an important crossroads in its existence. The industry is haunted by concerns about high cost structures, a lack of transparency in disclosure to policyholders, unfulfilled expectations of policyholders and the proliferation of available investment vehicles in the market. These concerns are exerting pressure on the existing products and practices of South African long-term insurers. The audits of these insurers are of a complex and high-risk nature as a result of the complexity of their operations and, in particular, the highly complex actuarial valuation process in respect of policy liabilities. The prevailing auditing standards in South Africa require auditors to include policy liabilities in the ambit of their audit opinions. Recent investigations into failed long-term insurers and their audits, including those of local Fedsure Life, British Equitable Life Assurance Society and Australian HIH Insurance, demonstrate the high risk involved in the audits of long-term insurers. Against this background, the objective of this research was to develop a best practice framework for the formulation of overall audit strategies for policy liabilities arising under insurance contracts and the related earnings of listed South African long-term insurers. To justify the focus of the research on the abovementioned components of the financial statements of listed South African long-term insurers, a questionnaire was developed and sent to auditors of all long-term insurers listed on the JSE Securities Exchange South Africa for completion. Responses were processed to calculate a Relative Inherent Risk Index specifically developed for use in this research, ranking various industry-specific account balances and classes of transactions on the basis of their potential exposure to inherent risk. The results of this process provided significant support for the hypotheses that policy liabilities and the related earnings are potentially exposed to the highest levels of inherent risk. The remainder of the research consequently focused on these components. A further very comprehensive questionnaire was developed to collect data with respect to respondents’ views of potential best practices for the audit of various aspects relating to policy liabilities arising under insurance contracts and the related earnings of listed South African long-term insurers, on the basis of their extensive experience in the industry. This questionnaire was sent to experienced auditors responsible for the audits of the five largest listed long-term insurers in South Africa for completion. Responses were received from four of the five potential respondents, resulting in an 80% response rate, enabling meaningful analysis and interpretation of the data. Responses were analysed, interpreted and documented in the form of a detailed best practice framework for the formulation of overall audit strategies for policy liabilities arising under insurance contracts and the related earnings. The lack of a fifth response was compensated for by a review of the research findings by experienced auditors of Deloitte and the provision of their opinions thereon. Deloitte was selected for this purpose as the fact that this auditing firm is the only one of the so-called “Big Four” auditing firms that does not act as auditor of one of the selected target long-term insurers, resulted in the initial exclusion of the firm’s views from the research. The framework was updated to reflect these opinions and now incorporates input from all of the so-called “Big Four” auditing firms. The framework provides a comprehensive discussion of all possible types of audit procedures that may be relevant to the audit of all aspects of policy liabilities arising under insurance contracts and the related earnings of listed South African long-term insurers. As no such framework existed prior to this research, the development thereof made a significant contribution to existing knowledge. This contribution is the result of, inter alia, the method followed in designing the framework, resulting in it representing a synthesis of, inter alia, the following: • existing international and limited local guidance for auditors and, in particular, auditors of long-term insurers, customised for the South African environment; • best practices currently in use on the audits of listed South African long-term insurers; and • views of experienced practitioners on the abovementioned types of best practices that might not be employed at the moment, but that should, in their views, be employed in future. The valuable contribution of this research to existing knowledge is clear from the fact that numerous publications in popular professional as well as accredited academic journals, plus a paper delivered at a conference have resulted from it (refer to the source list and Appendix A). Furthermore, the South African Institute of Chartered Accountants has approved a project to update existing South African guidance for auditors of long-term insurers on the basis of the findings of this research.

In the present thesis we study with-profit policy in life insurance. First we intro- duce general information about profit sharing and basic terms. We shortly look at the life insurance legislation. In the main part of thesis we look at three me- thods of calculation profit sharing and thereafter own method will be suggested. In second part of thesis we describe cash-flow model of life insurance implemented in iWorks Prophet Software. All methods with various economic scenarios and with various parameters settings will be tested in this model. Finally we analyse results of projections, we compare cash-flow for important variables a we describe advantages and disadvantages for every method.

Název práce: Cena kmene neživotního pojištění Autor: Bc. Marek Pavko Katedra: Katedra pravděpodobnosti a matematické statistky Vedoucí diplomové práce: Mgr. Pavel Koudelka, Generali Pojiš'ovna a.s. Abstrakt: V práci se věnujeme r·zným přístup·m k ocenění portfólia neživotního pojištění. Podrobněji rozebíráme návrh modelu, který zkoumá hodnotu aktuálního obchodu pojiš'ovny. Odděleně se zaměřujeme na hodnotu obchodu pocházejícího z nadbytku rezerv na jedné straně a zvláš' analyzujeme hodnotu obchodu pocházejí- cího z obnovených smluv na straně druhé. V teoretické části návrhu se zaobíráme simulační metodou bootstrap, kterou využijeme k analýze rizika škodních rezerv. Navržený model aplikujeme na reálná data, která odpovídají odvětví neživotního pojištění. V závěru práce zkoumáme citlivost hodnoty aktuálního obchodu vzhledem ke změně jednotlivých parametr· navrženého modelu a diskutujeme možnost jejich ovlivnění z pohledu pojiš'ovny. Klíčová slova: ocenění portfólia, hodnota aktuálního obchodu, bootstrap, neživotní pojištění, Solvency II 1

Made available in DSpace on 2016-04-26T20:25:37Z (GMT). No. of bitstreams: 1 claudia.pdf: 454535 bytes, checksum: 114b3d1a5962249e005639ff644165de (MD5) Previous issue date: 2007-06-12 / The purpose of this paper is to study the group life insurance contract within the context of a consumer relationship, and, specifically, to investigate the possibility of characterizing the policyholder as a service provider (in the Brazilian Consumer Defense Code s legal definition) in his/its relationship with the insured. Divided into four parts, the paper initially addresses the general characteristics of insurance contracts. In addition, it analyses the peculiarities of group life insurance, mainly its complex contracting process. The third part is exclusively dedicated to the policyholder, the individual or legal entity that enters into a group policy in favor of a certain group of people, playing an important role in the management of the insurance. In the fourth part of the paper, the concepts of consumer, service provider and consumer relationship are reviewed, pursuant to the rules of the Brazilian Consumer Defense Code. Lastly, it is concluded in this paper that the relationship between policyholder and insured is a consumer relationship whenever the policyholder acts as an arm of the insurance company instead of representing the interests of the insured / Destina-se o presente trabalho a estudar o contrato de seguro de vida em grupo como relação de consumo e, em especial, investigar a possibilidade de caracterização do estipulante de seguros como fornecedor na relação que estabelece com o segurado. Dividido em quatro partes, o trabalho cuida, inicialmente, de abordar as características gerais do contrato de seguro. Depois, são estudadas as peculiaridades do seguro de vida em grupo, sobretudo o seu complexo processo de contratação. A terceira parte é dedicada exclusivamente à figura do estipulante, pessoa física ou jurídica que contrata a apólice coletiva em favor de determinado grupo de pessoas e que assume funções essenciais na administração do seguro. Na quarta parte do estudo são abordados os conceitos de consumidor, de fornecedor e de relação de consumo, segundo o CDC. Por fim, conclui-se pela classificação da relação entre estipulante e segurado como relação de consumo, quando o estipulante, ao invés de representar os interesses dos segurados, atua como braço da seguradora