Insurance Pricing Tool - R Shiny App

This interactive R Shiny application is designed to compute and visualize expected insurance reserves

and premiums for life insurance policies. It offers users a dynamic interface to explore how various insurance parameters

affect both reserves and premiums, with specific modules for single and couple policies.

Reserve Plot

• An interactive line plot visualizing the expected reserve over time.

• Responds in real-time to user inputs and clearly shows how reserve values evolve over a specified time frame.

Premium Calculation

• Displays the expected premium in an infoBox, computed based on input parameters.

• Expressed in ** USD ($) **, dynamically updated with every input change.

Control Panel

Fully interactive sidebar menus for:

• Single Policy

• Couple Policy

Parameters include:

Product type (e.g., assurance, annuity)

• Age

• Interest rates

• Assured sum

• Annuity product type

• Premium payments

• Payment frequency

• Expenses, and more.

• Conditional panels dynamically show or hide variables depending on user selection, ensuring a clean and relevant interface.

Installation & Running Locally

1. Prerequisites

Install required packages in R:

install.packages(c("shiny", "shinydashboard", "plotly", "dplyr"))

Launch the App

Clone this repository and run the app with:

shiny::runApp()

Technologies Used

• R & Shiny Package

• shinydashboard

• plotly (for interactive plots)

• Custom actuarial functions

Notes

• The app is tailored for life insurance calculations.

• Custom functions (e.g., life annuity, life assurance) compute expected present values.

• For other types of insurance, the logic will need adaptation.

• Adding machine learning models or actuarial simulations could enhance the app.

📁 Folder Structure

insurance-pricing-app/
│
├── ui.R
├── server.R
├── www/ (assets for CSS or images)
├── data/
└── README.md

License

This project is open-source and is licensed under the MIT License.