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On contemporary mortality models for actuarial use I: practice

Stephen J. Richards & Angus S. Macdonald

British Actuarial Journal2025https://doi.org/10.1017/s1357321725000121article
AJG 1ABDC B
Weight
0.44

Abstract

Actuaries must model mortality to understand, manage and price risk. Continuous-time methods offer considerable practical benefits to actuaries analysing portfolio mortality experience. This paper discusses six categories of advantage: (i) reflecting the reality of data produced by everyday business practices, (ii) modelling rapid changes in risk, (iii) modelling time- and duration-varying risk, (iv) competing risks, (v) data-quality checking and (vi) management information. Specific examples are given where continuous-time models are more useful in practice than discrete-time models.

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https://doi.org/https://doi.org/10.1017/s1357321725000121

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@article{stephen2025,
  title        = {{On contemporary mortality models for actuarial use I: practice}},
  author       = {Stephen J. Richards & Angus S. Macdonald},
  journal      = {British Actuarial Journal},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1017/s1357321725000121},
}

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Evidence weight

0.44

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.32 × 0.4 = 0.13
M · momentum0.57 × 0.15 = 0.09
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.