WHAT POLICY FEATURES DETERMINE LIFE INSURANCE LAPSE? AN ANALYSIS OF THE GERMAN MARKET

被引：50
|
作者：
Eling, Martin [1 ]
Kiesenbauer, Dieter [2 ]
机构：
[1] Univ St Gallen, St Gallen, Switzerland
[2] Univ Ulm, D-89069 Ulm, Germany
来源：
JOURNAL OF RISK AND INSURANCE | 2014年 / 81卷 / 02期
关键词：
EMERGENCY FUND HYPOTHESIS; EMPIRICAL-EVIDENCE; SURRENDER OPTION; FAIR VALUATION; GUARANTEES; IMPACT; RATES;
D O I：
10.1111/j.1539-6975.2012.01504.x
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
With the largest data set ever used for this purpose (covering more than 1 million contracts), we analyze the impact of product and policyholder characteristics on lapse in the life insurance market. The data are provided by a German life insurer and cover two periods of market turmoil that we incorporate into our proportional hazards and generalized linear models. The results show that product characteristics such as product type or contract age and policyholder characteristics such as age or gender are important drivers for lapse rates. Our findings improve the understanding of lapse drivers and might be used by insurance managers and regulators for value- and risk-based management.
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页码：241 / 269
页数：29
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