Risk Pooling In Social Endowment Insurance:Etymological Root,Annotation And Quantization Preliminary Analysis Based On Intra-generation Risk-pooling Model

From seventies of twentieth century,’risk pooling’ and its translation are used frequently in the domestic and foreign literature.Especially when the reform of social endowment insurance system begins,risk pooling in social endowment insurance has been received additional significance.This paper attempts to search its etymological root and evolution process,present a simple and effective method by which risk pooling in social endowment insurance could be annotated and quantized in intra-generation risk-pooling model,propose the risk pooling coefficient.Firstly,this paper applies the foreign literature method to distinguish relevant concepts,including risk transfer,risk sharing and risk pooling.At the same time,this paper also classifies the domestic literature which regards ’risk pooling’ or ’risk sharing’ as the voluntary organization with moral spirits,the security system with insurance meaning and the essential attribute of social insurance.Secondly,this paper annotates risk pooling in consideration of its etymological root,simplicity and validity.Thirdly,this paper quantizes risk pooling and proposes the risk pooling coefficient which is based on the intra-generation risk-pooling model hypothesis.Also,its corresponding actuarial formula of pure premium which does not take pay-as-you-go system and income redistribution into consideration could be obtained.This paper perform sensitivity analysis on the risk pooling coefficient by controlling variables,for example,average life expectancy,mortality and rate of return.Finally,this paper adjusts the mortality of the forth,the fifth and the sixth census data.The corresponding risk pooling coefficients could be calculated with the mortality and the actuarial formula.This paper finds that risk pooling has two origins.’Risk pooling’ in social endowment insurance means risk pooling.In intra-generation risk-pooling model,risk pooling coefficients under different death patterns shows different sensitivities to average life expectancy,mortality and rate of return.Mortality and rate of return have greater influence over risk pooling coefficient.The increase of average life expectancy could delay slightly the age when risk pooling coefficient reaches a maximum value.The analysis results of the forth,the fifth and the sixth census data remain consistent with the sensitivity analysis.