The Myers-Cohn Profit Model: A Practical Application

The Myers-Cohn Profit Model is presented via both a simple example and a practical application. The practical application is shown in considerable detail in order to illustrate some of the techniques required in applying theory in the real world. This should help actuaries understand the model as well as illustrate the importance of the inputs chosen and assumptions made. Since most of the inputs used in this profit model are required by other profit models, the illustrations of how to quantify these input values should be of more general applicability.