Faculty Advisor

Abraham, Jon P.

Abstract

This project examines and develops a company’s process for developing Kidnapping and Ransom Insurance while developing a premium that would be beneficial to customers while allowing our company to be profitable. To do this we gathered data that would help us develop a model, which calculates a company’s premium based on the information they give us. We then simulated the first ten years of our business 1000 times and tested different company growth plans, premium loadings, and policy limits to assure that our company would be profitable. We concluded that our product would be successful and profitable within the first ten years.

Publisher

Worcester Polytechnic Institute

Date Accepted

April 2015

Major

Management Information Systems

Major

Actuarial Mathematics

Project Type

Major Qualifying Project

Accessibility

Unrestricted

Advisor Department

Mathematical Sciences

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