https://github.com/ActPersp/LTPricing
A sample project for level term insurance pricing using Rgogo Framework.
https://github.com/ActPersp/LTPricing
Last synced: 4 months ago
JSON representation
A sample project for level term insurance pricing using Rgogo Framework.
- Host: GitHub
- URL: https://github.com/ActPersp/LTPricing
- Owner: ActPersp
- License: gpl-3.0
- Created: 2020-10-01T13:55:38.000Z (over 4 years ago)
- Default Branch: master
- Last Pushed: 2021-12-08T01:04:08.000Z (over 3 years ago)
- Last Synced: 2024-08-13T07:13:05.186Z (8 months ago)
- Language: R
- Size: 75.2 KB
- Stars: 2
- Watchers: 1
- Forks: 0
- Open Issues: 0
-
Metadata Files:
- Readme: README.md
- License: LICENSE
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- jimsghstars - ActPersp/LTPricing - A sample project for level term insurance pricing using Rgogo Framework. (R)
README
# LTPricing
A sample pricing project for level term insurance products.
## Objective
The objective of this project is to provide an introductory demonstration of actuarial modeling using Rgogo Framework. The project demonstrates a simple pricing exercise for a 20-year level term insurance and a level term to age 65 using Rgogo framework. The intention is to show how Rgogo can help actuaries to build actuarial models easily and quickly.
## Prerequisite
You must install `Rgogo` package and Canadian mortality table package `MortTables.CA` before using this sample project. You can download these packages with the following commands if you have not done so:
```R
library(devtools)
install_github(repo = "ActPersp/Rgogo")
install_github(repo = "ActPersp/MortTables.CA")
```
It is also assumed that you are using RStudio for development environment.
## Modifying Model
You can make changes to the model by modifying any R script files under "R" folders.
Each R script file under "R" folder represents a model component:
| File Name | Model Component |
| --- | --- |
| Plan.LT20.R | 20-year level term product features |
| Plan.LT65.R | Level term to age 65 product features |
| MortAssump.R | Mortality assumption |
| LapseAssump.R | Lapse assumption |
| IntrAssump.R | Interest rate assumption |
| ExpnsAssump.R | Expense assumption |
| Model.R| Model for solving premium rates |
## Deploying Model
Every time you make any change to the above files, you must deploy the project by executing the following commands before running the model.
```R
Rgogo::DeployProject("LTPricing", overwrite = TRUE)
```
## Running Model
Run the script file Generate_PremTable.R under "batch" folder. The job will calculate premium rates and export the premium tables to an Excel file under "export" folder.