Analysis of life insurance contract cancellations using the accelerated failure time model

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dc.contributor.authorMucha, Vladimír
dc.contributor.authorĎuďák Teplanová, Patrícia
dc.contributor.authorGogola, Ján
dc.contributor.authorŠpirková, Jana
dc.date.accessioned2026-06-01T09:48:24Z
dc.date.available2026-06-01T09:48:24Z
dc.date.issued2026
dc.descriptionIn: Statistika : Statistics and Economy Journal. Praha : Český statistický úřad, 2026. ISSN 0322-788X. Vol. 106, no. 1 (2026), pp. 35-48.
dc.description.abstractThe aim of this paper is to analyse the cancellation of life insurance contracts on death using an accelerated failure time (AFT) model. The study focuses on identifying risk factors that influence the time to cancellation, with the objective of determining which to identify those insureds who cancel their policies the fastest. The analysis revealed several notable findings regarding the impact of premium payment frequency on contract cancellation. Specifically, yearly premium payments were found to extend the time to cancellation by 27% compared with monthly payments, holding all other factors constant. For contracts with monthly premiums, 10% of clients cancel within approximately 376 days, whereas for yearly premiums, the corresponding period is 476 days. Additionally, the results indicate that clients who did not conclude their contracts through the tied agent distribution channel tend to cancel their policies sooner. The AFT model was constructed using established R packages for survival analysis.
dc.description.sponsorshipVEGA 1/0497/25 Implementácia inovatívnych prístupov v oblasti riadenia a modelovania rizík v rámci interných modelov poisťovní VEGA 1/0096/23 Vybrané metódy riadenia rizík pri implementácii parciálnych interných modelov pre stanovenie kapitálovej požiadavky pre solventnosť VEGA 1/0124/24 Slovensko v kontexte dôchodkového indexu a indexu starnutia populácie - perspektíva budúcnosti
dc.identifier.doihttps://doi.org/10.54694/stat.2025.26
dc.identifier.issn0322-788X
dc.identifier.issn1804-8765
dc.identifier.urihttps://repo.umb.sk/handle/123456789/1489
dc.language.isoen
dc.publisherČeský statistický úřad : Praha
dc.rightsCC BY-NC-SA Creative Commons Attribution-NonCommercial-ShareAlike 4.0. International
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.subjectanalýzy prežívania
dc.subjectsurvival analysis
dc.subjectcenzúra
dc.subjectcensorship
dc.subjectpoistné zmluvy
dc.subjectinsurance contracts
dc.subjectživotné poistenie
dc.subjectlife insurance
dc.titleAnalysis of life insurance contract cancellations using the accelerated failure time model
dc.typeArticle
dc.typeinfo:eu-repo/semantics/article

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