Lifensurance: I Computing Human Life Value --by Gary A. Bergquist Zar~ 1sea,orated, HaZard, cT, usa A plane goes down. Hundreds are killed. Many more hundreds of lives are disrupted by the loss of their loved ones. Airline officials, lawyers, insurance representatives, and economists huddle together to work out financial compensation for the survivors. In the process, the unquanfifiable is quantified--a value is placed on each life. The age, occupation, salary, family characteristics, and so on are considered in the process of determining the financial loss represented by the victim's death. Litigation Analytics, Inc. (LAI) developed an interactive APL system for rapidly computing human life value, the economic loss to survivors. Drawing upon the literature "revolving the economics of human capital and upon extensive demographic databases from a variety of federal agencies, the ~'PhD LIFE" system projects the earnings, taxes, consumption, savings, inflation, and so on, for a target "client." Economists at LAI have used this system to prepare their testimony as expert witnesses for almost 20 years. The system has been made available to life insurance agents as a tool in their selling efforts. What better w a y t o assess the adequacy of a client's insurance
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Keeping hospitals healthy
Lee, Christopher H.
Follow ACM SIGAPL APL Quote Quad
, Volume 29 (4)
Association for Computing Machinery – Jun 1, 1999
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