Abstract
The problem of the determining the best mortality models is one of the basic fields in the forecasting strategy of insurance companies. For a given age group x at year t the mortality rate, m_x(t) can be expressed in the form of so-called Lee-Carter stochastic mortality model (LC). However, the LC-model assumes the homoscedasticity of error terms which is not adequate to the real life. Koissi and Shapiro have formulated the fuzzy version of the LC-model (FLC), where the model coefficients are assumed to be fuzzy numbers with the symmetric triangular membership function (STMF). To make the inference based on improved FLC more precise and elegant, we apply the Banach algebra of fuzzy numbers, i.e., OFN-algebra introduced by Kosinski et al. [8].
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