Matching Items (3)
Filtering by
- All Subjects: Actuarial
- All Subjects: Elderly
- All Subjects: Catastrophe Modeling
- Member of: Theses and Dissertations
- Status: Published
Description
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.
ContributorsSwoverland, Robert Bo (Author) / Milovanovic, Jelena (Thesis director) / Zicarelli, John (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
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.
ContributorsSturm, Brendan (Author) / Milovanovic, Jelena (Thesis director) / Hassett, Matthew (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
By 2030, the number of people above the age of 65 is projected to outnumber those under the age of 18 for the first time in United States history. With a growing older population, it is predicted that the amount of people moving into nursing homes and care facilities will also increase. However, a pressing problem is the high prevalence of depression and anxiety among elderly people residing in institutionalized living arrangements. With drugs and antidepressants less effective at treating patients with both dementia and depression, there is a need for more non-pharmacological interventions geared toward improving older adults’ mental well-being. In response, the potential therapeutic effect of exploring virtual nature through EcoRift—which provides dynamic and realistic 360-degree audio and visual environments—on older adults’ mental well-being was examined in this study. Ten individuals (3 men and 7 women) aged 50 and above were recruited and each participant experienced the virtual nature sojourns for 15 minutes once a week, for a total of three weeks. Pre- and post- virtual reality (VR) survey questionnaires were implemented to gauge the participants’ emotional response, including overall well-being and level of relaxation. Physiological measures such as heart rate and blood pressure were also taken before and after the VR experience. Findings show that immersion in nature through virtual reality improves older adults’ mental well-being by eliciting a transient sense of relaxation, peacefulness, and happiness. Further studies need to be performed in order to validate EcoRift’s effect on physiology; however, preliminary data suggests that immersive virtual nature also acts to decrease blood pressure. Overall, EcoRift shows to be a promising tool for bridging access to remote natural environments and may be a mentally beneficial activity for patients isolated in hospitals, hospices, and nursing homes.
ContributorsChien, Naomi Wei-Chia (Author) / Feisst, Sabine (Thesis director) / Cordes, Colleen (Committee member) / School of Life Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05