Faculty Advisor

Abraham, Jon P.

Abstract

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.

Publisher

Worcester Polytechnic Institute

Date Accepted

December 2013

Major

Actuarial Mathematics

Project Type

Major Qualifying Project

Accessibility

Unrestricted

Advisor Department

Mathematical Sciences

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