Special Aspects of Insurance Economics

Amount

Masterseminar 2/0 SWS (4 ECTS)

Dates

This seminar takes place as a block seminar. The attendance at all seminar dates is required.

Content

In this seminar, we are going to focus on some topics in actuarial science including life and non-life insurance. We are specifically dealing with how data analytics is used to design a better insurance contract. Further, we tackle different types of risk inherent in a life insurance contract and optimal retirement products. The seminar is based on scientific papers that summarize recent results in this area.

Registration

If you are interested, please register for the seminar at

http://econ.mathematik.uni-ulm.de:3838/semapps/stud_en/

From January 27th, 2020 - February 1st 2020 you must enter your seminar preferences in the tab "Seminars”.

A preliminary seminar meeting will take place on 14.02.2020, at the Institute of Insurance Science (room 1.69, HeHo 20).

Target group

The seminar is suitable for Master students in Mathematik, Wirtschaftsmathematik, Wirtschaftswissenschaften or Finance. Previous knowledge in Life, Health, and Pension Mathematics, Insurance Economics and Financial Mathematics 1 are helpful.

Seminar performance

The seminar performance consists of three parts:

  • A seminar presentation about a selected topic with a presentation of the results and some application examples and the moderation of the following discussion. Duration of the presentation: 90 minutes (including discussion). The topics of the presentations are generally assigned to groups of participants.
    The presentation is a performance of the whole group.
  • A written formulation of the presentation documents as a support for the participants of a maximum length of three pages.
    Delivery of the presentation documents: At least one week before the presentation via e-mail to Manuel Rach (email: manuel.rach(at)uni-ulm.de) or Fangyuan Zhang (zhang.fangyuan(at)uni-ulm.de). The creation of the presentation documents is a performance of the whole group.
  • Active participation in this seminar.

Based on the performance, every participant will be credited with a grade.

Seminar Papers

  1. Donnelly, C. and Young, J. (2017). Product options for enhanced retirement income. British Actuarial Journal, Vol. 22 (3), pp. 636–656.
  2. Hanbali, H., Denuit, M., Dhaene, J., and Trufin, J. (2019). A dynamic equivalence principle for systematic longevity risk management. Insurance: Mathematics and Economics 86, 158-167.
  3. Milevsky, M. A., & Salisbury, T. S. (2015). Optimal retirement income tontines. Insurance: Mathematics and Economics, 64, 91-105.
  4. Goecke, O. (2013). Pension saving schemes with return smoothing mechanism. Insurance: Mathematics and Economics, 53(3), 678-689.
  5. Goffard, P. O., & Guerrault, X. (2015). Is it optimal to group policyholders by age, gender, and seniority for BEL computations based on model points? European Actuarial Journal, 5(1), 165-180.
  6. Guillen, M., Nielsen, J. P., Ayuso, M., & Pérez‐Marín, A. M. (2019). The use of telematics devices to improve automobile insurance rates. Risk analysis, 39(3), 662-672.
  7. Wüthrich, M. V. (2018). Machine learning in individual claims reserving. Scandinavian Actuarial Journal, 2018(6), 465-480.
  8. Wüthrich, M. V. (2018). Neural networks applied to chain–ladder reserving. European Actuarial Journal, 8(2), 407-436.