Zvezdov, Ivelin (2016): Towards socially responsible (re)insurance underwriting practices: readily available ‘big data’ contributions to optimize catastrophe risk management.
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Abstract
Today's advances in big data technologies readily allow for storing large inter-dependent data sets of historical and modeled natural hazard and financial data and unifying their granularity and accuracy with common geo-spatial and risk-type record identifiers. This is a significant component at both single insurance account, and even more so at the larger multi-policy portfolio scale for enabling optimal and socially responsible insurance underwriting practices. This supports insurance risk transfers by creating more accurate and all-uncertainty encompassing pricing techniques, and exposes these techniques and methodologies to all market players, including insurance policy holders via transparent statistical and actuarial principles.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Towards socially responsible (re)insurance underwriting practices: readily available ‘big data’ contributions to optimize catastrophe risk management |
| Language: | English |
| Keywords: | Big Data, (Re)Insurance Premium Pricing, Sustainable (Re)Insurance Principles |
| Subjects: | D - Microeconomics > D0 - General D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles G - Financial Economics > G0 - General O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - General |
| Item ID: | 75312 |
| Depositing User: | Ivelin Zvezdov |
| Date Deposited: | 03 Dec 2016 05:18 |
| Last Modified: | 27 Sep 2019 10:16 |
| References: | Challa Aditya, Kolokoltsov, Vassili (2012), Insurance models and risk-function premium principle Darkiewicz, Grzegorz Griselda, Deelstra Griselda (2007), Bounds for Right Tails of Deterministic and Stochastic Sums of Random Variables Hürlimann, Werner (2005), On a Robust Parameter-Free Pricing Principle: Fair Value and Risk Adjusted Premium Laeven Roger J.A., Goovaerts Marc J. (2012), Premium Calculation and Insurance Pricing |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/75312 |
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