In this paper, we will explain critical illness insurance calculations with stochastic interest rates. The survival model is multiple states, while the interest rate is the Cox-Ingersoll-Ross stochastic interest rate model. In determining the survival model, we use the prevalence and mortality rates of certain critical diseases, such as neoplasms, endocrine diseases, and diseases of the digestive system. Furthermore, the Monte Carlo simulation will be used to simulate the possibility of interest rate pathways in determining critical illness insurance premiums.
This paper describes the construction of morbidity-mortality table if the dataset is only available at ages interval. The table used to measure the interaction between morbidity and mortality on the eleven chronical diseases (ECD). The probabilistic framework is based on the multiple-states Markov model. The transition intensities are assumed constant in each age interval. This paper finds high probability someone stays in state ECD and higher probability someone dies because of ECD than other causes.
In this paper we will discuss the dynamic model of Indonesian National Health Insurance (JKN) participation number. In this model, we divide JKN participation types into three categories: PBPU, PBI and PPU. The dynamic model is built using ordinary differential equation (ODE) system from a multiple states model that describes the transition of JKN participation types from time to time. The parameters of the model are estimated from data that is refined by an exponential smoothing time series method. As a result, the estimated number of JKN participation for each type until 2045 is obtained.
Investment is an activity carried out by investors by placing their funds in an asset. The purpose of investment is to gain long-term profits in the future. These profits come from changes in the price of assets in the future, which refers to the increase in the value of an asset over time. Currently, there are several types of investments. However, the type of investment that is quite widely practiced by Indonesian society is stock investment. The Indonesia Stock Exchange (IDX) groups the stocks available in the stock market into several indexes. One index that is currently receiving attention from Indonesian society is the Jakarta Islamic Index (JII). The JII is a collection of shares from companies that adhere to sharia principles in their business operations. Investment activities must be carried out carefully by conducting analysis beforehand so that investors do not make mistakes in choosing the stocks to be purchased. Several popular methods for selecting stocks are the Sharpe, Treynor, and Jensen indexes. These three indexes can be used to select the best stocks based on their respective criteria. This study combine these three indexes to prioritize the formation of a portfolio. The data used in this study is the closing value of stock prices in the JII index from March 2018 to February 2023. The optimization resulted in a composition of 69.17% for MDKA shares, 26.55% for HRUM shares, and 4.28% for BRIS shares of the total portfolio composition.
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