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on Insurance Economics |
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Issue of 2021‒09‒20
four papers chosen by Soumitra K. Mallick Indian Institute of Social Welfare and Business Management |
| By: | Sonia Bhalotra; Manuel Fernández |
| Abstract: | We estimate the health costs of supply-side barriers to accessing medical care. The setting is Colombia, where citizens have a constitutional right to health care, but insurance companies that manage delivery impose restrictions on access. We use administrative data on judicial claims for health as a proxy for unmet demand. We validate this using the register recording all health service utilization, estimating that a one standard deviation increase in judicial claims is associated with pervasive decreases in utilization rates of between 0.25 and 0.71 standard deviations, including in medical consultations, procedures, hospitalizations and emergency care. These restrictions on access manifest in population health outcomes. We estimate that a one standard deviation increase in judicial claims increases the all-cause mortality rate by between 0.10 and 0.23 standard deviations. Increases in mortality are pervasive across causes, with the largest increase in deaths from certain cancers. They are also pervasive across the age and sex distribution but larger among individuals over the age of fifty and (weakly) among women and the low-income population |
| Keywords: | Health care, health insurance, mortality, right-to-health, litigation, universalhealth-coverage, Colombia |
| JEL: | I11 I13 I18 K4 |
| Date: | 2021–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019555&r= |
| By: | Karim Barigou (ISFA - Institut de Science Financière et d'Assurances); Daniël Linders (UvA - University of Amsterdam [Amsterdam]); Fan Yang (University of Waterloo [Waterloo]) |
| Abstract: | We introduce the class of actuarial-consistent valuation methods for insurance liabilities which depend on both financial and actuarial risks, which imposes that all actuarial risks are priced via standard actuarial principles. We propose to extend standard actuarial principles by a new actuarialconsistent procedure, which we call "two-step actuarial valuations". In the coherent setting, we show that actuarial-consistent valuations are equivalent to two-step actuarial valuations. We also discuss the connection with "two-step market-consistent valuations" from Pelsser and Stadje (2014). In particular, we discuss how the dependence structure between actuarial and financial risks impacts both actuarial-consistent and market-consistent valuations. |
| Keywords: | Fair valuation,two-step valuation,actuarial consistent,market consistent,Solvency II,incomplete market |
| Date: | 2021–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03327710&r= |
| By: | Jiamin Yu |
| Abstract: | It has been for a long time to use big data of autonomous vehicles for perception, prediction, planning, and control of driving. Naturally, it is increasingly questioned why not using this big data for risk management and actuarial modeling. This article examines the emerging technical difficulties, new ideas, and methods of risk modeling under autonomous driving scenarios. Compared with the traditional risk model, the novel model is more consistent with the real road traffic and driving safety performance. More importantly, it provides technical feasibility for realizing risk assessment and car insurance pricing under a computer simulation environment. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2109.07211&r= |
| By: | Alice Zawacki |
| Abstract: | A special inquiry in the 2017 Economic Census for health care services asks about management practices for monitoring clinical performance in NAICS 621-623. Three questions ask (1) who sees the measures of clinical performance, (2) who chooses the clinical performance measures to collect, and (3) how frequently senior management reviews them. The Economic Census collects data from all firms known to have more than one establishment (i.e., multi-units) and randomly selects firms with one establishment (i.e., single units). This technical note examines survey response and item response to the three clinical performance questions on the forms for industries under NAICS 621-623 that are further subdivided by single- versus multi-unit status for a total of 18 different forms. These data are used to construct two simple establishment-level management scores. These evaluations help to support the use of these data to study the relationship between the health care providers’ management practices and their financial and clinical performance. For background on why this content was added and for more details on how these data can be used to construct management scores, see “Addressing Data Gaps: Four New Lines of Inquiry in the 2017 Economic Census” by Emek Basker, Randy A. Becker, Lucia Foster, T. Kirk White, and Alice Zawacki. CES Working paper 19-28. September 2019. Creation-Date: 2021-09 |
| URL: | http://d.repec.org/n?u=RePEc:cen:tnotes:21-05&r= |