Socioeconomic Mortality Tables for the Belgian Population
The Finance and Insurance research group (FINS) from the VUB has been working on prospective socioeconomic mortality tables for the Belgian population. Those tables are useful for insurance companies, pension funds and the Belgian government. Their application is multiple, ranging from profit testing, reserving, risk management and product design to public policy.
To construct the novel tables, extensive data from DEMOBEL (Statbel) has been gathered. The data include information on socioeconomic variables such as income, sector, home ownership, professional status, and family situation, all of which have been studied in detail.
In this seminar, we will demonstrate the strong predictive power of socioeconomic factors on mortality. For each factor, we discuss its contribution to mortality. We show how this can be used to construct mortality tables that upgrade the current IABE prospective mortality tables.
The work has been conducted by PhD student Marco Feliciangeli, Prof. Jeroen Kerkhof, and Prof. Steven Vanduffel.
2 CPD points will be awarded for attending the seminar.