MARKOV MODEL AND NON-MARKOV NET PREMIUM SINGLE FOR-LIFE INSURANCE JOINT STATE 4

• Main Author: RAHMAH , HIKMAH
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/15946
• Institution: Institut Teknologi Bandung

In the process of searching for a single net premium used a Markov model matrix required a strong knowledge in finding eigenvalues ??and too many assumptions would reduce the precision calculations. Compared with wearing a non-Markov process, in fact the insurance companies still use non-Markov equation, in addition to many people who could use it, not too many assumptions used. But the Markov process generates a net cash premiums smaller than the non-Markov process, in which the Markov process can result in customers who are more interested in cheaper premiums, and from the insurance company if you want to benefit can be added to the cost factors and of course, can still attract customers despite large premium added to the cost factor.