发布求助
文献互助 智能选刊 最新文献

Asia-Pacific Journal of Risk and Insurance最新文献

筛选
英文 中文
Automatic Segmentation of Insurance Rating Classes Under Ordinal Constraints via Group Fused Lasso 基于群融合套索的有序约束下保险等级分类自动分割
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-11-09 DOI: 10.1515/apjri-2022-0012
Atsumori Takahashi, S. Nomura
{"title":"Automatic Segmentation of Insurance Rating Classes Under Ordinal Constraints via Group Fused Lasso","authors":"Atsumori Takahashi, S. Nomura","doi":"10.1515/apjri-2022-0012","DOIUrl":"https://doi.org/10.1515/apjri-2022-0012","url":null,"abstract":"Abstract This paper proposes a sparse regularization technique for ratemaking under practical constraints. In tariff analysis of general insurance, rating factors with many categories are often grouped into a smaller number of classes to obtain reliable estimate of expected claim cost and make the tariff simple to reference. However, the number of rating-class segmentation combinations is often very large, making it computationally impossible to compare all the possible segmentations. In such cases, an L1 regularization method called the fused lasso is useful for integrating adjacent classes with similar risk levels in its inference process. Particularly, an extension of the fused lasso, known as the group fused lasso, enables consistent segmentation in estimating expected claim frequency and expected claim severity using generalized linear models. In this study, we enhance the group fused lasso by imposing ordinal constraints between the adjacent classes. Such constraints are often required in practice based on bonus–malus systems and actuarial insight on risk factors. We also propose an inference algorithm that uses the alternating direction method of multipliers. We apply the proposed method to motorcycle insurance claim data, and demonstrate how some adjacent categories are grouped into clusters with approximately homogeneous levels of expected claim frequency and severity.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131047216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Who Do You Trust? Trust and Insurance Through Africa’s Past and Future 你相信谁?非洲的过去和未来:信托和保险
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-11-07 DOI: 10.1515/apjri-2022-0040
G. Verhoef
{"title":"Who Do You Trust? Trust and Insurance Through Africa’s Past and Future","authors":"G. Verhoef","doi":"10.1515/apjri-2022-0040","DOIUrl":"https://doi.org/10.1515/apjri-2022-0040","url":null,"abstract":"Abstract Global disruption positions risk mitigation at the centre of survival strategies. Social risk mitigation strategies display relationships of trust, responsibility and culture. Insurance in global markets expands as bi-polarism began to contract from the early 1990s, but the massive external shocks of the pandemic and the rising interest environment impact negatively on this advance. What is likely the nature of risk mitigation responses in the post-pandemic era? How have societies, especially in developing regions such as some African societies, responded to the growing risk and existential threats? This paper explores African risk mitigation strategies in the past and the potential for future alignment of global insurance products to the demands of 21st Century African markets.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128645382","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Impact of GATS on the Insurance Sector: Empirical Evidence from Pakistan 服务贸易总协定对保险部门的影响:来自巴基斯坦的经验证据
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-10-17 DOI: 10.1515/apjri-2020-0008
H. Rahman, S. Khan
{"title":"The Impact of GATS on the Insurance Sector: Empirical Evidence from Pakistan","authors":"H. Rahman, S. Khan","doi":"10.1515/apjri-2020-0008","DOIUrl":"https://doi.org/10.1515/apjri-2020-0008","url":null,"abstract":"Abstract This study aims to analyse the effects of the General Agreement on Trade in Services (GATS) on the investment activities of the Pakistani insurance sector. First, we analyse the impact of GATS on the overall and company-wise return on investment of the insurance sector of Pakistan. In a panel data setting, the traditional fixed and random effect models are unsuitable for dealing with the possible issues, including endogeneity, unobserved heterogeneity, profit persistency, and the correlation between lagged dependent variables and independent variables. Therefore, we apply the Generalised Method of Moments (GMM) system estimator to the panel data from 1984 to 2018. In the Arellano-Bond framework, the estimated results indicate that the overall investment returns of the Pakistani insurance sector have increased after the GATS membership. However, company-wise analysis reveals mixed evidence. The average returns of IGI Insurance Limited and EFU General Insurance Limited have increased significantly after the GATS membership. These results support one of our empirical conjectures that a rising tide lifts some boats more than it does others. Then, we apply Markowitz’s Portfolio Theory to estimate the portfolio returns and the associated risk using the financial statements data from 1984 to 2018. The estimates of portfolio analysis reveal that the portfolio returns of the Pakistani insurance sector improve by 6.70 percentage points after the membership. However, the associated portfolio risk also increases by 11.13 percentage points, 7.40 times higher than the Pre-GATS risk. Despite the better returns, there is an intensive increase in investment volatility after GATS membership. This study provides a valuable reference for insurance managers and the Ministry of Finance and Securities & Exchange Commission of Pakistan to control and improve the insurance sector’s performance in Pakistan.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"125 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116050504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Are Stay-at-Home and Face Mask Orders Effective in Slowing Down COVID-19 Transmission? – A Statistical Study of U.S. Case Counts in 2020 呆在家里和戴口罩能有效减缓COVID-19的传播吗?- 2020年美国病例计数的统计研究
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-08-10 DOI: 10.1515/apjri-2022-0007
Ping Wang, Huy Le
{"title":"Are Stay-at-Home and Face Mask Orders Effective in Slowing Down COVID-19 Transmission? – A Statistical Study of U.S. Case Counts in 2020","authors":"Ping Wang, Huy Le","doi":"10.1515/apjri-2022-0007","DOIUrl":"https://doi.org/10.1515/apjri-2022-0007","url":null,"abstract":"Abstract Whether the stay-at-home order and face mask mandate are effective in slowing down the COVID-19 virus transmission is up for debate. To investigate this matter, we employ a unique angle. A two-wave logistic equation is proposed and then fitted to the cumulative case counts of all 50 states in the U.S. from the onset to early December of 2020 when vaccinating begins at large scale. The data period is confined to isolate the effects of executive orders from that of vaccination. The length of the first wave’s accelerating phase is regressed on variables describing the stay-at-home order and face mask mandate, along with control variables. A state’s lockdown duration is discovered to be negatively related to the time it takes for the virus to transit from accelerating to decelerating rates. This finding provides statistical support to the executive orders and can be useful in guiding risk management of future pandemics.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122140258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Banking Integration in Open, Small Economies of the Pacific Island Countries 太平洋岛国开放小经济体的银行业一体化
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-07-01 DOI: 10.1515/apjri-2021-0004
Nirodha I. Jayawardena, Kalolaini Ranadi, Parmendra Sharma, Seruwaia Cagilaba
{"title":"Banking Integration in Open, Small Economies of the Pacific Island Countries","authors":"Nirodha I. Jayawardena, Kalolaini Ranadi, Parmendra Sharma, Seruwaia Cagilaba","doi":"10.1515/apjri-2021-0004","DOIUrl":"https://doi.org/10.1515/apjri-2021-0004","url":null,"abstract":"Abstract This is the first study to systematically investigate the extent of financial integration in the small, open Pacific Island Countries (PICs). The study applies Autoregressive Distributed Lag co-integration technique on interest rate spreads and covers Fiji, Papua New Guinea, Vanuatu and Tonga, while controlling for the effects from Australia and the United States for the period 1992 to 2019. In the short run, there is some evidence of regional as well as global integration. In the long run, both regional and global integrations become more pronounced. Explanations, consequences and policy implications are discussed.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128619770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Morbidity and Mortality Analysis for Risk-based Pricing in Cattle Insurance 基于风险的牛保险定价的发病率和死亡率分析
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-04-06 DOI: 10.1515/apjri-2020-0033
S. Doss, Shalini Pathak Tiwari
{"title":"Morbidity and Mortality Analysis for Risk-based Pricing in Cattle Insurance","authors":"S. Doss, Shalini Pathak Tiwari","doi":"10.1515/apjri-2020-0033","DOIUrl":"https://doi.org/10.1515/apjri-2020-0033","url":null,"abstract":"Abstract Morbidity and Mortality have also been a reason for concern for the insurers as increased morbidity and mortality contribute to a higher cost of claims including claim frequency. Currently, there are only two rating factors (Age and types of cattle) being adopted by the insurers while determining the premium rates and there is no risk-based pricing adopted for Cattle Insurance in India. The main objective of this paper is to identify the important rating factors influencing the mortality and morbidity trends among different cattle types in India. Secondly, there is a need to examine whether the mortality and morbidity trends vary across different parameters like animal type, breeds, age, gender, agro-climatic zone, types of formers/animal owners, etc. If it varies, then to find out the degree of variations and also measure the impact of these rating factors on cattle mortality. This paper focuses on the analysis of the morbidity and mortality of cattle across different types of cattle, breeds, age groups, gender, and different agro-climatic regions, etc. Further, it also examines the differences in cattle management practices; particularly the frequency and the quantity of feed, types, and quality of feed (nutritional value) given, animal healthcare management, exposure to catastrophic risk hazards, etc., with a view to developing risk-based pricing for cattle insurance. This would help insurers to understand the changes in cattle mortality and morbid trends and also build a comprehensive mortality table across different types and breeds of cattle. This would also immensely help the insurers in determining risk-based premium rates among different types of animals, their breeds, geographic regions, customer types, etc. which would enable in developing sustainable cattle insurance portfolio in the Indian insurance market. The output of the analysis can also be used by the insurers to develop index-based livestock insurance as well as parametric insurance.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125305878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Frontmatter
Asia-Pacific Journal of Risk and Insurance Pub Date : 2022-01-01 DOI: 10.1515/apjri-2022-frontmatter1
{"title":"Frontmatter","authors":"","doi":"10.1515/apjri-2022-frontmatter1","DOIUrl":"https://doi.org/10.1515/apjri-2022-frontmatter1","url":null,"abstract":"","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121290236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimal Reciprocal Reinsurance under VaR or TVaR Constraint VaR或TVaR约束下的最优互惠再保险
Asia-Pacific Journal of Risk and Insurance Pub Date : 2021-12-09 DOI: 10.1515/apjri-2021-0023
Hung-Hsi Huang, Ching-Ping Wang
{"title":"Optimal Reciprocal Reinsurance under VaR or TVaR Constraint","authors":"Hung-Hsi Huang, Ching-Ping Wang","doi":"10.1515/apjri-2021-0023","DOIUrl":"https://doi.org/10.1515/apjri-2021-0023","url":null,"abstract":"Abstract Most existing researches on optimal reinsurance contract are based on an insurer’s viewpoint. However, the optimal reinsurance contract for an insurer is not necessarily to be optimal for a reinsurer. Hence, this study aims to develop the optimal reciprocal reinsurance which satisfies the benefits of both the insurer and reinsurer. Additionally, due to legislative restriction or risk management requirement, the wealth of insurer and reinsurer are frequently imposed upon a VaR (Value-at-Risk) or TVaR (Tail Value-at-Risk) constraint. Therefore, this study develops an optimal reciprocal reinsurance contract which maximizes the common benefits (evaluated by weighted addition of expected utilities) of the insurer and reinsurer subject to their VaR or TVaR constraints. Furthermore, for avoiding moral hazard problem, the developed contract is additionally restricted to a regular form or incentive compatibility (both indemnity schedule and retained loss schedule are continuously nondecreasing).","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130827212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Population Aging and the Demand for Private Health Insurance in China 人口老龄化与中国私人医疗保险需求
Asia-Pacific Journal of Risk and Insurance Pub Date : 2021-08-24 DOI: 10.1515/apjri-2019-0042
Lili Zheng
{"title":"Population Aging and the Demand for Private Health Insurance in China","authors":"Lili Zheng","doi":"10.1515/apjri-2019-0042","DOIUrl":"https://doi.org/10.1515/apjri-2019-0042","url":null,"abstract":"Abstract This study examines the potential impact of aging on the demand for private health insurance (PHI) in China. Using the provincial data for 2000–2018, we find that a 1-percent increase in each proportion of the elderly population and old-age dependency ratio increases the PHI demand by 4.8 and 5.2%, respectively. A one-percent increase in the child dependency ratio decreases the PHI demand by 1.5%. We employ an instrumental variable approach; the findings support that the proportion of the elderly individuals in the total population, old-age dependency ratio, child dependency ratio, and urban green area significantly affect the PHI demand. The rolling estimate indicates that aging has a significant positive effect on the PHI demand over a rolling window of a fixed sample size. Additionally, by controlling for province and year fixed effects, we find that aging is positively associated with the PHI demand in China.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129305424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
From Earthquake Geophysical Measures to Insurance Premium: A Generalised Method for the Evaluation of Seismic Risk, with Application to Italy’s Housing Stock 从地震地球物理措施到保险费:地震风险评估的一种通用方法，并应用于意大利的住房存量
Asia-Pacific Journal of Risk and Insurance Pub Date : 2021-08-10 DOI: 10.1515/apjri-2020-0034
Riccardo Cesari, L. D'Aurizio
{"title":"From Earthquake Geophysical Measures to Insurance Premium: A Generalised Method for the Evaluation of Seismic Risk, with Application to Italy’s Housing Stock","authors":"Riccardo Cesari, L. D'Aurizio","doi":"10.1515/apjri-2020-0034","DOIUrl":"https://doi.org/10.1515/apjri-2020-0034","url":null,"abstract":"Abstract Following the increasing necessity of quantitative measures for the impact of natural catastrophes, this paper proposes a new technique for a probabilistic assessment of seismic risk by using publicly available data on the earthquakes that have occurred in Italy. We implement an insurance-oriented methodology to produce a new map of the seismic risk and to evaluate, under various hypotheses, the costs of insuring all the Italian housing units against it. The model is compared with two main privately developed models, well known in the reinsurance industry, providing fairly similar results.","PeriodicalId":244368,"journal":{"name":"Asia-Pacific Journal of Risk and Insurance","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129519876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信