Description: This article explains why stochastic modeling is becoming more pervasive, and describes a specific stochastic application with metrics to measure results.

Description: An Overview of Stochastic Simulation modeling techniques and usages

Description: Private LTC insurers are paving the way for value-based care through working to implement care management programs that improve the lives of their policyholders before and during a claim. However, measuring the effectiveness of these new programs is a challenging task. In this article, we will explore powerful tools that can enhance traditional effectiveness studies and address some of their existing weaknesses.

Description: The article and guidebook of the same name use a stochastic simulation model to examine potential impacts of public pension plan risk-sharing policies on government employers and plan members. Policies examined include simple policies such as COLAs and employee contributions that are contingent upon investment returns or funded ratios, and more-complex policies similar to those used in the Wisconsin Retirement System.

Description: It is worth the effort to obtain a pricing surface. It helps make an informed decision and facilitate the pricing conversation within and outside a company.

Description: Abstract of Research Project on Interest Rate Risk

Description: In this paper we propose a model that can be used to analyze correlated claims data. In the process we introduce a class of multivariate generalized Poisson distributions. Then we present posterior distributions of its parameters. These distributions are difficult to manipulate, so we employ Markov chain Monte Carlo methods to draw random numbers from posteriors and predictive distributions. We present a collection of EXCEL VBA functions and subroutines to perform the simulations.

Description: Reviewing a text covering multiple statistical modeling topics: e.g., generalized linear models, decision trees, clustering, using the statistical language R.

Description: Excerpts from a conversation with Alan Mills regarding his work in complexity science and agent-based modeling.