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European Actuarial Journal

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01-07-2012

Tree-based methods: a useful tool for life insurance

Author: Walter Olbricht

Published in: European Actuarial Journal | Issue 1/2012

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Abstract

Life insurance faces a number of new challenges. This paper identifies some difficulties with techniques that are widely used to cope with these challenges. As an interesting alternative tree-based methods are suggested and discussed. In particular a “hybrid” approach (using regression trees for a classification situation) is proposed. The main advantage of this approach is its ease of interpretability and its inherent transparency. The method appears to be particularly suitable for the identification of the risk factors in complex situations like disability insurance.

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Bauer M, Krüger R, Olbricht W (2011) Tree-based methods: an application to disability probabilities 16 pp (to be submitted)

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Title: Tree-based methods: a useful tool for life insurance
Author: Walter Olbricht
Publication date: 01-07-2012
Publisher: Springer-Verlag
Published in: European Actuarial Journal / Issue 1/2012
Print ISSN: 2190-9733
Electronic ISSN: 2190-9741
DOI: https://doi.org/10.1007/s13385-012-0045-5

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