Title

Individual Parametric Insurance Product Design

Date of Award

Spring 2021

Degree Name

Bachelor of Science

Department

Computer Science & Mathematics; College of Arts & Sciences

First Advisor

Weihong Ni

Abstract

This report presents a design of a parametric insurance product for individual consumers in two neighboring countries Ambernϊa and Palȍmϊnϊa. Unlike traditional insurance, this product issues a predetermined payout to a policyholder when a pre-agreed event has been triggered. By conducting analyses on given health data in the countries, we first projected individual losses and calculated premiums according to gender, age and risk factor information. Then we defined triggering events and modeled the payout scheme for our product. Comprehensive strategies are also provided for marketing and risk mitigation.

This document is currently not available here.

Additional Files

Capstone titles and abstracts2021.pdf (78 kB)

Share

COinS
 

Individual Parametric Insurance Product Design

This report presents a design of a parametric insurance product for individual consumers in two neighboring countries Ambernϊa and Palȍmϊnϊa. Unlike traditional insurance, this product issues a predetermined payout to a policyholder when a pre-agreed event has been triggered. By conducting analyses on given health data in the countries, we first projected individual losses and calculated premiums according to gender, age and risk factor information. Then we defined triggering events and modeled the payout scheme for our product. Comprehensive strategies are also provided for marketing and risk mitigation.