D'Amico, Guglielmo; Guillen, Montserrat; Manca, Raimondo - In: Insurance: Mathematics and Economics 45 (2009) 2, pp. 173-179
In this paper a stochastic model for disability insurance contracts is presented. The model is based on a discrete time non-homogeneous semi-Markov process to which the backward recurrence time process is joined. This permits us to study in a more complete way the disability evolution and to...