Case Study

Case Study

Development and maintenance of personal insurance system (Calculation)

In order to ensure that insurance premium calculations and refunds cancellation for subscribers can be calculated properly, we have developed, operated a new personal insurance system and being maintained by the business knowledge expert. The company also can appropriately calculate the reserve of liability and output forms of calculation statistics, Insurance premium rates, liability reserve rates, etc. are calculated using advanced mathematical calculations by using probability and statistics based on the life insurance standard life table and company's past information

Development and maintenance of personal insurance system (Calculation)

Background and Issues

In general, the maintenance of the system becomes very important because new products with various characteristics appear one after another from the economic situation and the change of the times, and the contract is continued for a long time not only that the system correspondence is necessary every time, and the life insurance policy is contracted for a long time. In that case, it takes a wealth of knowledge and experience to respond so that the current system is not affected.

Results obtained

In a situation where there is an absolute shortage of experience in mathematical work, we have built a relationship of trust while accumulating business know-how and development experience by taking charge of various projects and maintenance tasks. In life insurance, mathematical services are closely related to other major businesses such as maintenance and insurance payments, and we have many opportunities to engage in important projects in the future.

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