A life insurance contract may terminate for different reasons. For example, the insured individual may die, surrender their contract, or the policy might reach its maturity date.The payment the insurance company has to make may vary depending on how the contract was terminated. Predicting when these events happen and which one occurs first is, therefore, of utmost interest to insurance companies. Thus, this thesis aims to compare three different model approaches for predicting the time until a contract termination event happens, accounting for the risk factors of individual policyholders and mainly focusing on the estimation of the time duration until a policyholder surrenders the contract. We will apply these models to a publicly available life insurance data set and compare their performance.     «

A life insurance contract may terminate for different reasons. For example, the insured individual may die, surrender their contract, or the policy might reach its maturity date.The payment the insurance company has to make may vary depending on how the contract was terminated. Predicting when these events happen and which one occurs first is, therefore, of utmost interest to insurance companies. Thus, this thesis aims to compare three different model approaches for predicting the time until a c...     »