Faculty Advisor

Abraham, Jon P.

Abstract

Our team worked with Genworth, a global financial security company specializing in long term care insurance, to develop a method to identify factors that have the greatest impact on benefit exhaustion. Using a dataset that included a variety of information for 26,114 claims that were closed (including 3,948 closed due to benefit exhaustion), we compared claims closed due to exhaustion versus total claims closed, with respect to the frequency of any given factor. Next, we created a graph we could reproduce for each factor based on this method. We tested all factors regardless of relevance for completeness to discover which factors were both Predictive and Known during Underwriting.

Publisher

Worcester Polytechnic Institute

Date Accepted

May 2014

Major

Actuarial Mathematics

Project Type

Major Qualifying Project

Accessibility

Unrestricted

Advisor Department

Mathematical Sciences

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