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Premiums in life insurance
Švec, Martin ; Zamazal, David (advisor) ; Branda, Martin (referee)
In the present thesis we study with-profit policy in life insurance. First we intro- duce general information about profit sharing and basic terms. We shortly look at the life insurance legislation. In the main part of thesis we look at three me- thods of calculation profit sharing and thereafter own method will be suggested. In second part of thesis we describe cash-flow model of life insurance implemented in iWorks Prophet Software. All methods with various economic scenarios and with various parameters settings will be tested in this model. Finally we analyse results of projections, we compare cash-flow for important variables a we describe advantages and disadvantages for every method.
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Seasonal mortality and its application in life insurance
Srnáková, Andrea ; Cipra, Tomáš (advisor) ; Zichová, Jitka (referee)
Assumptions like uniform distribution, constant force of mortality and the Balducci assumption frequently used for modeling mortality data do not reflect the variability of monthly death rates. Often a phenomenon of winter excess mortality occurs, which is not respected by these assumptions. We shall apply a seasonal mortality assumption, which uses non-negative trigonometric sums for modeling the distribution of monthly death rates. We then apply our findings to the Czech mortality data. We calculate monthly premiums in a short-term life insurance policy and compare the result with results given by the classical assumptions. 1
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Protection of rights in life insurance
Tučková, Tereza ; Kotáb, Petr (advisor) ; Vybíral, Roman (referee)
Protection of rights in life insurance Abstract The subject of this rigorous thesis is the protection of rights in life insurance. The main reason for choosing this topic is the fact that completing my master's degree program in law, I have entered the private sphere as a corporate lawyer of an international insurance company and in this position I am active, althought with another international insurance company, still today. In my position, among other things, I represent the insurance company in private disputes with the insured persons, typically on the payment of insurance benefits (claims). I also represent the insurance company during the public hearing efore the Czech NAtional Bank and, last but not least, in my agenda is the representation of the insurance company in the proceedings with the clients efore the Financial Arbiter. During my practice, I met all the possibilities and apsects of protection of rights in life insurance and I realized chat all the clients of an insurance company have to knowabout thein position in such a procedure and that there is an imbalance in information between the contractual parties and which information each contracting party possesses. I have divided my thesis into six main chapters. In the first chapter I describe the institute of insurance and insurance policy,...
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Acceleration of calculations in life insurance
Kuzminskaya, Kseniya ; Janeček, Martin (advisor) ; Vitali, Sebastiano (referee)
One of the major issue for life insurance companies is proper and consistent valuation of liabilities. This thesis introduces the standard estimation methods used in practice and discussed the alternative methods, which might help to speed up these calculations. It studies two possible methods of acceleration of calcu- lations in life insurance: analytic function and cluster analysis. The outcome of these work is comparison of discussed methods applied on generated life insur- ance portfolio. All methods were applied on two possible insurance products. Comparison of the results is based on the calculation precision and time needed to process the liabilities of the insurance company's portfolio. 1
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Comparison of investments for retirement
SUCHÁŇOVÁ, Markéta
The aim of this thesis was to choose some types of investments and set the expected return using time series; furthermore to compare these possibilities using multi-dimensional assessment. I chose four types of investments, namely: mutual funds, life insurance, additional pension savings and building savings. I expected a monthly deposit of 1000 CZK for a period of 20 years in my thesis. In case the investor would keep this money cash or on a bank account, where he would not have to pay account fees and have a zero interest rate, he would save 240 000 CZK during this period. Based on published historical returns I modeled the expected return of the investment by means of methods of time series. For modeling the return I used the model of linear trend. The highest revaluation is expected with the additional pension savings, where the dynamic strategy brings the overall return of 414 214 CZK, the balanced strategy 379 874 CZK and the conservative strategy 333 209 CZK. The investment into mutual funds using conservative strategy brings 317 894 CZK, using balanced strategy brings the return of 314 986 CZK. When choosing the conservative strategy of life insurance the overall return is 296 071 CZK and when choosing the balanced strategy it is 292 614 CZK. The expected return of the building saving is 286 139 CZK. However, it is not recommended to opt for an investment only based on the expected return. We have to take into consideration as well the risk of the investment, input one-time fee and the overall fee (monthly or annual fees). For this reason I determined the category of the above mentioned criteria, which I set using scoring method. For the determination of the order I chose the TOPSIS method and the scoring method. Based on the carried out above methods it is certain that the best investment is investing in additional pension savings.
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Innovation of Selected Insurance Products and their Alternatives
Kolouchová, Jana ; Kupčík,, Petr (referee) ; Ptáček, Roman (advisor)
The diploma thesis deals with innovations selected insurance products and their alternatives. The theoretical part describes the insurance market and development of insurance in the Czech Republic, defines important terms as a coincidence, insured event, insurance products, risk and legal norms in the insurance. In the practical part is an analysis of the selected insurance company and its competitors. On the basis of obtained information are selected insurance products compared. In the proposal part are recommended changes for existing insurance products of the selected insurance company in terms of their content and coverage of risk in the unexpected event. The partial aim is the proposal an alternative insurance product for selected insurance company, which could arise in the future in its range of insurance products.
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Development of the Czech insurance market from the point of view of the life insurance
Vazačová, Zuzana ; Ducháčková, Eva (advisor) ; Mazáček, David (referee)
This thesis analyzes the development of the Czech insurance market from the point of view of the life insurance in the last 8 to 10 years. The thesis is divided into 4 chapters. The thesis defines the theoretical concepts of life insurance and insurance market. The development indicators of the insurance market are described, more precisely are characterized six of them. Last but not least, external and internal factors that have an impact on the development of life insurance in the Czech Republic are explained. Greater attention is paid to those who are currently active on the Czech insurance market. The last chapter focuses on current trends in life insurance. The chapter also includes interviews and a summary of possible future developments in the insurance market.
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Insurance of serious illnesses
Rezek, Vojtěch ; Ducháčková, Eva (advisor) ; Černochová, Martina (referee)
This bachelors thesis deals with the insurance of serious illnesses and its significance in the insurance market in the Czech Republic. Firstly, the thesis outlines the basic characteristics of this insurance and the types of serious illnesses it covers. In addition, the history of the development of this type of insurance in the world insurance market and its use in the Czech environment is briefly discussed. Furthermore, this dissertation lists the technical parameters of the insurance in the insurance contract and their practical utilization. Moreover, the specifics of the most serious illnesses from multiple expert perspectives are discussed, followed by examining the modern trends in this insurance policy. The second part of this thesis analyses statistical data on the number of diagnoses and deaths of serious illnesses in a given period of time, thus determining the frequency of these illnesses. Additionally, state financial support in cases of serious illnesses is discussed. The thesis concludes with the calculations of the insurance premiums in serious illness insurance, comparing different insurers and the amount of indemnity in the given period. The aim of this dissertation is to analyse the statistical data concerning the insurance of serious illnesses, affirming the importance of obtaining insurance of this health risk in life insurance contracts on the basis of the analysis carried out in the practical part of the thesis.
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