Further Information
The seminar will be held in English.
If you have any questions, please contact
- Prof. An Chen (e-mail: an.chen(at)uni-ulm.de)
Special Aspects of Insurance Economics
Assistant
Amount
2/0 SWS (4 ECTS)
Date
This seminar takes place as a block seminar. The attendance at all seminar dates is required.
Date: tba
Room: tba
Registration
If you are interested, use one of the following web-pages:
http://econ.mathematik.uni-ulm.de:3838/semapps/stud_en/ (English version)
http://econ.mathematik.uni-ulm.de:3838/semapps/stud_de/ (German version)
There you can register for this seminar from July 3 until July 9.
Content
In this upcoming seminar, we will focus on innovative retirement products. We will deal with the valuation of retirement innovations like annuities and tontines, and study the impact of subjective mortality perceptions on retirement decision. The seminar is based on scientific papers that summarizes recent results in this area.
Target Group
The seminar is suitable for Master students in Wirtschaftsmathematik, Wirtschaftswissenschaften or Finance. Previous knowledge in Personenversicherungsmathematik, Insurance Economics and Finanzmathematik 1 are helpful.
Seminar Performance
Typically, seminar papers are distributed to a group of 2 students.
The seminar performance consists of three parts:
- A seminar presentation about a selected topic. The presentation typically includes some theoretical derivations / model introduction and some numerical part that applies the results in a realistic setup.
Duration of the presentation: 90 minutes (including discussion).
- A written formulation of the presentation documents as a support for the participants of a maximum length of two pages.
Delivery of the presentation documents: at least one week before the presentation via e-mail to an.chen@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 an (internal) grade.
Seminar Papers
- Lot, A. (2023). Longevity Pessimism, Misinformation, and Pension Choice. Working Paper.
- Chen, A., Hieber, P., & Rach, M. (2021). Optimal retirement products under subjective mortality beliefs. Insurance: Mathematics and Economics, 101, 55-69.
- Chen, A., Hieber, P., & Klein, J. K. (2019). Tonuity: A novel individual-oriented retirement plan. ASTIN Bulletin: The Journal of the IAA, 49(1), 5-30.
- Donnelly, C., Guillén, M., & Nielsen, J. P. (2014). Bringing cost transparency to the life annuity market. Insurance: Mathematics and Economics, 56, 14-27.
- Chen, H., Sherris, M., Sun, T., & Zhu, W. (2013). Living With Ambiguity: Pricing Mortality‐Linked Securities With Smooth Ambiguity Preferences. Journal of Risk and Insurance, 80(3), 705-732.
- Huang, H., Milevsky, M. A., & Salisbury, T. S. (2017). Retirement spending and biological age. Journal of Economic Dynamics and Control, 84, 58-76.
- Lim, B. H., & Kwak, M. (2016). Bequest motive and incentive to retire: Consumption, investment, retirement, and life insurance strategies. Finance Research Letters, 16, 19-27.
- Milevsky, M. A., & Salisbury, T. S. (2015). Optimal retirement income tontines. Insurance: Mathematics and economics, 64, 91-105.