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This expository thesis explores the financial health and actuarial analysis of a particular solution for those seeking stability and security in their golden years: the CCRC industry. A continuing care retirement community, or CCRC, is a comprehensive project and campus that offers its residents a full spectrum of care from

This expository thesis explores the financial health and actuarial analysis of a particular solution for those seeking stability and security in their golden years: the CCRC industry. A continuing care retirement community, or CCRC, is a comprehensive project and campus that offers its residents a full spectrum of care from independent living, to assisted living, to skilled nursing. After reading this paper, any person with no prior knowledge of a continuing care retirement community should gain a firm understanding of the background, risks and benefits, and legislative safeguards of this complex industry. Financially, a CCRC operates in some aspects similar to long-term care (LTC) insurance. However, CCRCs provide multiple levels of care operations while maintaining a pleasant, engaging community environment where seniors can have all their lifestyle needs met. The expensive and complex operations of a CCRC are not without risk: the industry has seen marked periods of bankruptcy followed by increasing and changing regulatory oversight. Thus, CCRCs require a periodic actuarial analysis and report, among array of other legislative safeguards against bankruptcy. A CCRC's insolvency or inability to meet its obligations can be catastrophic and inflict suffering and damages not only to its residents but also their friends and families. With seniors historically being one of the most vulnerable demographic groups, it is absolutely essential that an all-encompassing care facility continues to exist and fulfill its contractual promises by maintaining sound actuarial practices and financial health. This thesis, in addition to providing an exposition of the background and functions of the CCRC, describes the existing actuarial and financial studies and audits in practice to ensure sound governance and the quality of life of CCRC residents.
ContributorsTang, Julie (Author) / Milovanovic, Jelena (Thesis director) / Hassett, Matthew J. (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
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Description

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

ContributorsStephens, Corey Christopher (Co-author) / Dicke, George (Co-author) / Anand, Rohan (Co-author) / Sadusky, Brian (Thesis director) / Schiller, Christoph (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Through research, interviews, and analysis, our paper provides the local community with a resource that offers a comprehensive collection of insight into the Mirabella at ASU Life Plan Community and the projected impact it will have on the City of Tempe and Arizona State University.

ContributorsAnand, Rohan (Co-author) / Dicke, George (Co-author) / Stephens, Corey (Co-author) / Sadusky, Brian (Thesis director) / Schiller, Christoph (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description
A factor accounting for the COVID-19 pandemic was added to a generalized linear model to more accurately predict unpaid claims. COVID-19 has affected not just healthcare, but all sectors of the economy. Because of this, whether or not an automobile insurance claim is filed during the pandemic needs to be

A factor accounting for the COVID-19 pandemic was added to a generalized linear model to more accurately predict unpaid claims. COVID-19 has affected not just healthcare, but all sectors of the economy. Because of this, whether or not an automobile insurance claim is filed during the pandemic needs to be taken into account while estimating unpaid claims. Reserve-estimating functions such as glmReserve from the “ChainLadder” package in the statistical software R were experimented with to produce their own results. Because of their insufficiency, a manual approach to building the model turned out to be the most proficient method. Utilizing the GLM function, a model was built that emulated linear regression with a factor for COVID-19. The effects of such a model are analyzed based on effectiveness and interpretablility. A model such as this would prove useful for future calculations, especially as society is now returning to a “normal” state.
ContributorsKossler, Patrick (Author) / Zicarelli, John (Thesis director) / Milovanovic, Jelena (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor)
Created2022-05
Description

An examination of various reserving methods and their application in commercial auto insurance. Seeks to answer two questions: Which is the best model, out of the Chain Ladder, Mack Chain Ladder, Munich Chain Ladder, Clark's LDF and Clark's Cape Cod methods? Which loss basis, paid or incurred, yields better reserves?

ContributorsLindgren, Connor (Author) / Zicarelli, John (Thesis director) / Milovanovic, Jelena (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor)
Created2022-12