This project examines and develops a company’s process for developing Kidnapping and Ransom Insurance while developing a premium that would be beneficial to customers while allowing our company to be profitable. To do this we gathered data that would help us develop a model, which calculates a company’s premium based on the information they give us. We then simulated the first ten years of our business 1000 times and tested different company growth plans, premium loadings, and policy limits to assure that our company would be profitable. We concluded that our product would be successful and profitable within the first ten years.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Cai, Chuqi
• Taubert, Alex Wayne
• Vaughan, Brianna Marie
• Petock, Rose Mairead

Publisher

• Worcester Polytechnic Institute

Identifier

• E-project-042915-191914

Advisor

• Abraham, Jon P.

Year

• 2015

Date created

• 2015-04-29

Resource type

• Major Qualifying Project

Major

• Actuarial Mathematics

Rights statement

• In Copyright