Insurance and Stochastic Modeling

Students spent time studying the intricacies of the healthcare system and the many moving parts associated with it. They read Brian Alexander’s The Hospital, examined the history of health insurance in America, watched The Invisible Patients and The Crime of the Century. While doing this, they studied stochastic modeling which allows for one to mathematically account for probabilistic risk. They discovered how shared costs can benefit a buyer but how it can also put a great deal of onus on the system. For their final project, they explored and designed an insurance policy for a type of risk of their choice. Below you’ll find their stochastic model, a written explanation of the model, and brochures advertising their policies.

Didi - Intellectual Property Insurance

Stochastic Model & Write-Up

Mara - Flood Insurance

Stochastic Model & Write-Up

Rose - Renters Insurance

Stochastic Model & Write-Up

Rhys - Music Studio Insurance

Stochastic Model & Write-Up

Esmé - Collision Insurance

Stochastic Model & Write-Up

Dominic - Long Term Care

Stochastic Model & Write-Up

Jesse - Life Insurance

Stochastic Model & Write-Up

Eli - Workers Compensation

Stochastic Model & Write-Up

Kory - Boat Insurance

Stochastic Model

Emmett - Life Insurance

Stochastic Model & Write-Up