A Method of Using Mechanical Sorting and Tabulating for the Preparation and Issue of Bonus Intimations

Extract

The problem of reduction of the work involved in life assurance valuation has long engaged the attention of the actuarial profession. The Z method, Karup's method, and the various short valuation methods have resulted in reduction of the groupings necessary for valuation. There still remains, however, summation of the sums assured, bonuses, premiums, net premiums, Z's etc. etc. of the individual cases forming these groups, and to expedite this work we may have recourse to mechanical methods of sorting and tabulating.

These methods have been employed for many years by Life Assurance Offices in the United States and by the large Industrial Offices in this country, but it is only within the past few years that ordinary Life Offices here have begun to adopt them. The number of ordinary Life Offices in this country making use of mechanical methods of sorting and tabulating is still, however, small.