Based On The Stochastic Interest Rate And All One's Strength Of Investment-oriented Life Insurance Actuarial Studies

Life insurance products have the functions of financial compensation, financing and social management. Investment-oriented life insurance products are the combination of insurance products and investment products which are designed to avoid interest loss and enhance the competitiveness of insurer. This kind of insurance products not only takes the insured and the insurer into account, but also notes the dispersion of insurer’s business risk, which has become the mainstream of life insurance companies. China’s investment-oriented life insurance is in its infancy, thus its actuarial model is important. Traditional actuarial theory is built on fixed interest rate and life table to calculate premium and reserve and predict risk. However, life insurance is a long-term economic behavior, both interest and life table vary with economic cycle, government policies and so on. The impact on investment-oriented life insurance is even more than traditional life insurance.This paper studies the actuarial model of investment-oriented life insurance, considering the randomness of interest rates and life table.This paper builds a doubly randomness actuarial model based on the reflected Brownian motion and Poisson process to measure premium and reserve, analyzed the need of stochastic interest rate. Through the quantitative analysis of life table, this paper estimates three parameters of Gompertz expression using nonlinear regression and uses hypothesis testing improving the estimation results. On this basis, this paper puts forward policy recommendations for the development of investment-oriented life insurance and improves the operational efficiency of the insurer.The scholars mainly use binary tree pricing model to study investment-oriented life insurance. The innovation of this paper is using a doubly randomness interest model based on the reflected Brownian motion and Poisson process, analyzed the actuarial model with stochastic interest rate and life table. In addition, domestic scholars are mostly concentrated on qualitative research. This paper attempts to build a random actuarial model by increasing the impact of the varying of life table.