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

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…

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

The Making of a COVID-19 Lab: A Business Exploration

Description

For our project, we explored the growth of the ASU BioDesign Clinical Testing Laboratory (ABCTL) from a standard university research lab to a COVID-19 testing facility through a business lens. The lab has pioneered the saliva-test in the Western United States. This thesis analyzes the laboratory from various business concepts…

For our project, we explored the growth of the ASU BioDesign Clinical Testing Laboratory (ABCTL) from a standard university research lab to a COVID-19 testing facility through a business lens. The lab has pioneered the saliva-test in the Western United States. This thesis analyzes the laboratory from various business concepts and aspects. The business agility of the lab and it’s quickness to innovation has allowed the lab to enjoy great success. Looking into the future, the laboratory has a promising future and will need to answer many questions to remain the premier COVID-19 testing institution in Arizona.

ContributorsMattson, Kyle (Co-author) / Agee, Claire (Co-author) / English, Corinne (Co-author) / Cosgrove, Samuel (Co-author) / Compton, Carolyn (Thesis director) / Schneller, Eugene (Committee member) / Department of Marketing (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)

Created2021-05

Home Advantage in Sports: The Value it Holds with COVID Restrictions

Description

Home advantage affects the game in almost all team sports across the world. Due to<br/>COVID and all of the precautions being taken to keep games played, more extensive research is able to be conducted about what factors truly go into creating a home advantage. Some common factors of home advantage…

Home advantage affects the game in almost all team sports across the world. Due to<br/>COVID and all of the precautions being taken to keep games played, more extensive research is able to be conducted about what factors truly go into creating a home advantage. Some common factors of home advantage include the crowd, facility familiarity, and travel. In the English Premier League, there are no fans allowed at any of the games; furthermore, in the NBA, a bubble was created at one neutral venue with no fans in attendance. Even with the NBA being at a neutral site, there was still a “home team” at every game. The sports betting industry struggled due to failing to shift betting lines in accordance with this decreased home advantage. With these leagues removing some of the factors that are frequently associated with home advantage, analysts are able to better see what the results would be of removing these variables. The purpose of this research is to determine if these adjustments made due to COVID had an impact on the home advantage in different leagues around the world, and if they did, to what extent. Individual game data from the past 10 seasons were used for analysis of both the NBA and the Premier League. The results show that there is a significant difference in win percentage between prior seasons and seasons behind closed doors. In addition to win percentage, many other game statistics see a significant shift as well. Overall, the significance of being the home team disappears in games following the COVID-19 break.

ContributorsOsborne, Ashley A (Author) / Sopha, Matthew (Thesis director) / McIntosh, Daniel (Committee member) / Department of Information Systems (Contributor) / Department of Marketing (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)

Created2021-05

Return to Play: Analyzing COVID-19 Safety Measures for High School Athletics and Preparing Student Athletes to Play in a Pandemic

Description

A look at COVID-19 as a disease and how it affected the United States and Arizona in 2020. An analysis of decisions by surrounding states and health and government officials is used to comprise a return to play plan for Arizona high school athletics.

ContributorsHite, Mackenzie Elizabeth (Author) / McIntosh, Daniel (Thesis director) / Lee, Christopher (Committee member) / Department of Marketing (Contributor) / School of Community Resources and Development (Contributor) / Barrett, The Honors College (Contributor)

Created2021-05

Return to Play: Analyzing COVID-19 Safety Measures for High School Athletics and Preparing Student Athletes to Play in a Pandemic

Description

A look at COVID-19 as a disease and how it affected the United States and Arizona in 2020. An analysis of decisions by surrounding states and health and government officials is used to comprise a return to play plan for Arizona high school athletics.

ContributorsHite, Mackenzie Elizabeth (Author) / McIntosh, Daniel (Thesis director) / Lee, Christopher (Committee member) / Department of Marketing (Contributor) / School of Community Resources and Development (Contributor) / Barrett, The Honors College (Contributor)

Created2021-05

How corporations should respond to a public health or social crisis

Description

A guide to implementing empathy in crisis communications

ContributorsLong, Mary Louise (Author) / Schmidtke, Lisa (Thesis director) / Bovio, Sonia (Committee member) / Department of Marketing (Contributor) / Walter Cronkite School of Journalism and Mass Comm (Contributor, Contributor) / Barrett, The Honors College (Contributor)

Created2021-05

Healthcare Cost Trend Impacts by COVID-19 in the State of Arizona

Description

Actuaries can analyze healthcare trends to determine if rates are reasonable and if reserves are adequate. In this talk, we will provide a framework of methods to analyze the healthcare trend during the pandemic. COVID-19 may influence future healthcare cost trends in many ways. First, direct COVID-19 costs may increase…

Actuaries can analyze healthcare trends to determine if rates are reasonable and if reserves are adequate. In this talk, we will provide a framework of methods to analyze the healthcare trend during the pandemic. COVID-19 may influence future healthcare cost trends in many ways. First, direct COVID-19 costs may increase the amount of total experienced healthcare costs. However, with the implementation of social distancing, the amount of regularly scheduled care may be deferred to a future date. There are also many unknown factors regarding the transmission of the virus. Implementing epidemiology models allows us to predict infections by studying the dynamics of the disease. The correlation between infection amounts and hospitalization occupancies provide a methodology to estimate the amount of deferred and recouped amounts of regularly scheduled healthcare costs. Thus, the combination of the models allows to model the healthcare cost trend impact due to COVID-19.

ContributorsGabric, Lydia Joan (Author) / Zhou, Hongjuan (Thesis director) / Zicarelli, John (Committee member) / School of Mathematical and Statistical Sciences (Contributor, Contributor) / Barrett, The Honors College (Contributor)

Created2021-05

The Impact of COVID-19 on Arizona State University's Marketing

Description

This thesis will analyze the effects that the COVID-19 pandemic has had on Arizona State University's marketing efforts to new and current students in regard to budgeting, tactics, and effectiveness. The purpose of this thesis is twofold: to uncover the practices implemented by the university amid the pandemic and assess…

This thesis will analyze the effects that the COVID-19 pandemic has had on Arizona State University's marketing efforts to new and current students in regard to budgeting, tactics, and effectiveness. The purpose of this thesis is twofold: to uncover the practices implemented by the university amid the pandemic and assess the impact that such practices had on their marketing effectiveness. Arizona State University (ASU) currently has over 75,000 enrolled students and is focused on innovation, entrepreneurship, and a deep commitment to serving the public interest during a time of rapid and complex societal change. These goals and objectives translate directly into ASU’s marketing strategy and content development, but with an ever-changing world landscape, it is imperative to analyze the key changes and strategic initiatives that were made due to the pandemic in order to assess how to best move forward. Empirical data was collected through 7 interviews with participants across various colleges and campuses at ASU to identify the holistic strategy pre- and post-pandemic and what the implications are for current and prospective students. The findings revealed that the pandemic was a catalyst for the transition to online recruitment and marketing tactics that proved to be more successful in the attraction of prospective students than prior strategies due to the outreach capabilities. Additionally, the pandemic forced Arizona State University to change their messaging to be more student-focused in order to resonate stronger with consumers. The adoption of new marketing strategies and tactics because of the pandemic ultimately proved to be effective in increasing enrollment at ASU.

ContributorsGreene, Victoria (Author) / Reifurth, Katherine (Thesis director) / Voustas, Konstandinos (Committee member) / Barrett, The Honors College (Contributor) / Department of Marketing (Contributor) / Department of Management and Entrepreneurship (Contributor)

Created2022-12

The Effects of Mortality by Socioeconomic Category on Group Life Insurance Rates and Plan Designs in the United States

Description

Recent life tables provided by the Society of Actuaries demonstrate mortality rate estimates for the United States by year from 1982 through 2018, separated by socioeconomic deciles and quintiles. These estimates were utilized to determine how life insurance rates might vary based on the socioeconomic category of a specific United…

Recent life tables provided by the Society of Actuaries demonstrate mortality rate estimates for the United States by year from 1982 through 2018, separated by socioeconomic deciles and quintiles. These estimates were utilized to determine how life insurance rates might vary based on the socioeconomic category of a specific United States county. The aim of this study is to determine how the data provided in these life tables can be utilized to curate life insurance rates and plan designs for employees at a specific company in the United States. The results indicate that there are significant differences in mortality across these socioeconomic quintiles, including greater life expectancy for individuals located in counties of a higher quintile. While there are no limits to the implications of these results in the insurance industry, this report highlights how the demographics of individuals working for a specific company could potentially alter life insurance rates for its employees.

ContributorsStratton, Victoria (Author) / Zhou, Kenneth (Thesis director) / Zicarelli, John (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor)

Created2022-05

The Impact of the COVID-19 Pandemic on the Fashion Industry: How the Fashion Industry Evolved in the Face of a Global Crisis

Description

This exploration will delve into the intricate state of the fashion industry, examining how economic and social shifts during the pandemic era gave rise to unprecedented outcomes. From the highs of pre-pandemic opulence to the lows of economic uncertainties, the scrutiny will focus on the industry's metamorphosis. The post-pandemic fashion…

This exploration will delve into the intricate state of the fashion industry, examining how economic and social shifts during the pandemic era gave rise to unprecedented outcomes. From the highs of pre-pandemic opulence to the lows of economic uncertainties, the scrutiny will focus on the industry's metamorphosis. The post-pandemic fashion landscape is characterized not only by the aftermath of a global health crisis but also by the omnipresence of technology and the transformative influence of social media and consumers. Furthermore, the navigation will extend through the rise of TikTok and the vintage fashion revival, exploring its roots in consumerism, sustainability, and a collective consumer base. It is important to note COVID-19 as both a challenge to fashion and the mark of a new era. Through this exploration, the aim is to uncover not only the industry's response to adversity but also the beginning of a transformation that reflects a new era for fashion.

ContributorsPitti, Sanjana (Author) / Lee, Sanghak (Thesis director) / Feinberg, Cece (Committee member) / Barrett, The Honors College (Contributor) / School of Art (Contributor) / Department of Marketing (Contributor)

Created2024-05

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