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Linear Modeling for Insurance Ratemaking/Reserving: Modeling Loss Development Factors for Catastrophe Claims

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Catastrophe events occur rather infrequently, but upon their occurrence, can lead to colossal losses for insurance companies. Due to their size and volatility, catastrophe losses are often treated separately from other insurance losses. In fact, many property and casualty insurance

Catastrophe events occur rather infrequently, but upon their occurrence, can lead to colossal losses for insurance companies. Due to their size and volatility, catastrophe losses are often treated separately from other insurance losses. In fact, many property and casualty insurance companies feature a department or team which focuses solely on modeling catastrophes. Setting reserves for catastrophe losses is difficult due to their unpredictable and often long-tailed nature. Determining loss development factors (LDFs) to estimate the ultimate loss amounts for catastrophe events is one method for setting reserves. In an attempt to aid Company XYZ set more accurate reserves, the research conducted focuses on estimating LDFs for catastrophes which have already occurred and have been settled. Furthermore, the research describes the process used to build a linear model in R to estimate LDFs for Company XYZ's closed catastrophe claims from 2001 \u2014 2016. This linear model was used to predict a catastrophe's LDFs based on the age in weeks of the catastrophe during the first year. Back testing was also performed, as was the comparison between the estimated ultimate losses and actual losses. Future research consideration was proposed.

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2018-05

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Homeward Bound: An Overview of Continuing Care at Home

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AARP estimates that 90% of seniors wish to remain in their homes during retirement. Seniors need assistance as they age, historically they have received assistance from either family members, nursing homes, or Continuing Care Retirement Communities. For seniors not wanting

AARP estimates that 90% of seniors wish to remain in their homes during retirement. Seniors need assistance as they age, historically they have received assistance from either family members, nursing homes, or Continuing Care Retirement Communities. For seniors not wanting any of these options, there has been very few alternatives. Now, the emergence of the continuing care at home program is providing hope for a different method of elder care moving forward. CCaH programs offer services such as: skilled nursing care, care coordination, emergency response systems, aid with personal and health care, and transportation. Such services allow seniors to continue to live in their own home with assistance as their health deteriorates over time. Currently, only 30 CCaH programs exist. With the growth of the elderly population in the coming years, this model seems poised for growth.

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2019-05

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Refugee Education and Clinic Team Business Plan

Description

REACT is a student-led venture which strives to address the healthcare disparities from geographic, linguistic and cultural isolation of the refugee community in Arizona/Phoenix. We will achieve this by Understanding the needs of the community, Engaging the community directly, Educating

REACT is a student-led venture which strives to address the healthcare disparities from geographic, linguistic and cultural isolation of the refugee community in Arizona/Phoenix. We will achieve this by Understanding the needs of the community, Engaging the community directly, Educating through the use of culturally appropriate materials, and providing access to supplemental Patient Care.
This venture is unique in that it is an interdisciplinary fusion between students, health professionals, and non-profit organizations empowering underserved refugees. A refugee is an individual forced to leave their country because of persecution, war, or violence. Once they arrive in the United States, they are forced to restart their lives, often with little to no financial assets, minimal English literacy, and a lack of transferable skills from their previous occupations in their home countries. In addition to these socioeconomic disparities, it is common for refugees to face health disparities. Consequently, refugees are one of the most vulnerable populations in our society.
Our organization provides value to the refugee community through our three key services. These are made up of supplemental resources, educational workshops, and clinical services. Our supplemental materials include resources that our clients will use after they have left our care to further improve their health and quality of life. These items include personal hygiene kits, informational pamphlets, and nutritional foods.
The educational workshops we provide specifically address identified knowledge gaps that impede the autonomy of our clients’ health and wellbeing. Several of the topics that we cover (but are not limited to) are diabetes, postpartum depression, nutrition, dental hygiene, AHCCCS, and nutrition. The clinical services that the clinic will provide will be supplementary primary care services that will encompass basic physical exams, A1C blood pressure checks, and vaccinations. These services all are aimed at alleviating the barriers to health that refugees face and ultimately improve their quality of life.
Our venture seeks to maintain positive and sustained relationships with our client segments through continuous community engagement. In conjunction with providing educational workshops and clinical care in the future, REACT continually engages the community by planning formal and informal programming with the refugees based on the needs and wishes of individual communities.

REACT generates these services through the work of medical students from Mayo Clinic Alix School of Medicine and undergraduates from Arizona State University. Our team brings together the experience from hundreds of hours of work in the community, collaborations with refugee community leaders, and the insight of professionals in the healthcare/social-work industry.
Further, our members have had extensive experience working with refugees, training in culturally sensitive practices, and delivering care to those that need it most. With the cost of healthcare exponentially rising, there is little hope for refugees to find adequate culturally competent healthcare. This leads to an increase in chronic diseases, preventable health issues, and increased hospitalization costs. Supporting REACT is not only an investment in the health of the refugees but the health of our entire healthcare system.

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2019-05

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Beyond Numbers: Assessing the Impact of RISE Tutoring on the Phoenix Refugee Community

Description

RISE Tutoring is an ASU student organization which helps refugee youth achieve academic and personal success through tutoring and mentorship. As a member of RISE Tutoring for three years, the researcher sought to document and analyze the program’s impact on

RISE Tutoring is an ASU student organization which helps refugee youth achieve academic and personal success through tutoring and mentorship. As a member of RISE Tutoring for three years, the researcher sought to document and analyze the program’s impact on the Phoenix refugee community. It was determined that video documentation, with its ability to capture both visual and verbal testimony, was the ideal holistic approach to assess and share this impact. The researcher hypothesized that RISE Tutoring adds value to the lives of its tutors and students through the multidimensional growth––educational, personal, and cultural––it facilitates for all. Methods of data collection were limited to video and audio, but approval from the Institutional Review Board and consent from all participants were obtained prior to the project’s start. The final video, filmed and edited with the help of a professional videographer, was 20 minutes and 21 seconds in length. The findings derived from the recorded interviews with students, tutors, and community leaders, and from the footage of tutoring and group activities, validated the researcher’s hypothesis. Viewers of the video can witness the bonding of tutors and students; hear the pride in the voices of the tutors and see the passion in their eyes when they speak of their students; and feel the joy and excitement that the program brings to its students’ lives. This project transformed the personal experiences of participants into a collective RISE Tutoring identity which can now be presented, for the first time, to the public. The video also aimed to help RISE Tutoring share its meaningful work and improve its marketing efforts, thereby enabling the organization to recruit more tutors and students, build new partnerships, and fundraise. Through the fulfillment of these goals, the video will empower the organization to effect greater change in the community.

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2019-05