This project examines an insurance company’s pricing process for pet insurance. We modeled the product after existing pet insurance and human health care. To develop the prices, we collected and analyzed data about pet treatments, costs, and incidence rates. We created a simulation model to test the profitability and measure the company’s success. The results show that the dog business is more successful than the cat business and that there is room for future adjustments as experience data becomes available.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Richardson, Kyle A.
• McManus, Kelly Elizabeth
• Westwater, Keegan Garrity
• Donovan, Caitlin Mary

Publisher

• Worcester Polytechnic Institute

Identifier

• E-project-121713-091116

Advisor

• Abraham, Jon P.

Year

• 2013

Date created

• 2013-12-17

Resource type

• Major Qualifying Project

Major

• Actuarial Mathematics

Rights statement

• In Copyright