Analysis of Mortality Patterns and Forecasting Future Trends: Actuarial Statistical Approaches

Therefore, in response to this knowledge gap, this research article employs and comparatively examines mortality models, particularly the Gompertz and Makeham. We examine and analyze these models in terms of performance and nuances for forecasting mortality rate, to give a comprehensive view of trends and expected lifespans. This is done with help of age-specific mortality data. With this in mind, we estimate the accuracy, reliability, and practical implications of the Gompertz and Makeham models in capturing the trend of mortality in multiple subgroups. Being originated from the actuarial science and the field of public health our work aims to contribute to the understanding of mortality modelling approaches and provide to the academicians, policymakers and practitioners the adequate tools for the lifespan, population health expectancy and mortality risk estimation. The following comprehensive review encourages the enhancement of mortality modelling precision, healthcare assemblies for the purpose of treatment and prophylactic measures, as well as population health management techniques, since it offers appraisal for prosaic methodologies for decision-making.