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Catastrophes have caused tremendous damages in human history and triggered record high post-disaster relief from the governments. The research of catastrophic modeling can help estimate the effects of natural disasters like hurricanes, floods, surges, and earthquakes. In every Atlantic hurricane season, the state of Florida in the United States has the potential to suffer economic and human losses...
The Florida Public Hurricane Loss Model (FPHLM) is a public catastrophe model that integrates and regulates all key components, such as meteorology, engineering, and actuarial components, by following a certain workflow in the execution phase. The validation phase governed by an Automatic Data Validation (ADV) program simulates each modeled execution component with a large number of historical insurance...
More and more companies go abroad to response to China's policy “the Belt and Road”. However, many companies suffer from great loss when they go out so that estimate risks factors in overseas project is very important. The interactions between the complex factors can be structured in a model that can help one to make a rational judgment. The EPC Contract risk model developed in this study is based...
Recent years, with a great development of Chinese pharmaceutical E-commerce, many problems appeared. This article analyzed the opportunity and threaten factors of Chinese Pharmaceutical E-commerce. Chinese pharmaceutical E-commerce has huge domestic market, mature enterprises, advanced technology for its advantages; but limited hospital prescription, distribution channel problem, separated with medical...
The operation of insurance companies accumulates several risks that should be managed. One of the risk management and containment types is reinsurance. Risks related to reinsurance are the following: fluctuation risk, risk of errors, risk of change, risk of prediction and assessment, subjective risk, and premium delay risk. Reinsurance as the limiting type of fluctuation risk is a transaction, under...
Users' privacy is a critical challenge for any information management system. The proliferation of mobile devices has promoted the use of context-aware solutions, making the protection of the users' information an even greater challenge. Addressing this requires a given mechanism that allows users to manage and control their personal information. In this sense, this paper proposes a privacy-preserving...
Pay-how-you-drive (PHYD), which has already been recognized as the most promising differentiated commercial vehicle insurance product in usage based insurance (UBI), can objectively analyze the risk level of each insured vehicle by analyzing its driving style from raw data collected by on-board diagnosis (OBD) module set up on it. Finding certain kinds of driving styles, or risk modes from raw data...
Application The field survey forensics auto insurance survey is an important technology, it is not only an important means of insurance claims work gathering evidence, but also as an important reference traffic accident investigation. By the insurance companies to obtain first-hand information on site survey, you can identify the cause of the collision, accident authenticity identified provide important...
Insurance data processing system used by PT. Asuransi Takaful Umum is a system Care Tech. Care Tech System is a system designed for general data processing such as vehicle insurance, fire, property, and others with a web-based base that can be accessed online. During implemented since October 2013, Care Tech system has not been evaluated in terms of user acceptance. The purpose of this study was to...
Variable annuities are long-term investment vehicles that have grown rapidly in popularity recently. One major feature of variable annuities is that they contain guarantees. The guarantees embedded in variable annuities are complex and the values of the guarantees cannot be obtained from closed-form formulas. Insurance companies rely heavily on Monte Carlo simulation to calculate the fair market values...
Health insurance companies wish to understand themain drivers behind changes in their costs to enable targeted and proactive management of their operations. This paper presents a comprehensive approach to cost change attribution that encompasses a range of factors represented in insurance transaction data, including medical procedures, healthcare provider characteristics, patient features, and geographic...
Since the social media hype started in the early 2000s, the Internet has bloomed with user-generated data. The content generated by users in social media varies from blogs, forums, social network platforms, and video sharing communities. This data has a special emphasis on the relationships among users of the community. As a consequence, social media data contains significant information about their...
In order to better manage the premiums and encourage safe driving, many commercial insurance companies (e.g., Geico, Progressive) are providing options for their customers to install sensors on their vehicles which collect individual vehicle's traveling data. The driver's insurance is linked to his/her driving behavior. At the other end, through analyzing the historical traveling data from a large...
The purpose of this paper is to evaluate the performance of a new multiobjective algorithm called Vector Evaluated Population Based Incremental Learning (VEPBIL). The new algorithm was applied in solving a real world application named Reinsurance Contract Optimization (RCO), which is a multiobjective problem consisting of maximizing two conflicting functions: expected return and risk. The VEPBIL was...
This research focuses on the innovation system of a large service corporation and its evolution over the last ten years. This corporation has business companies such as property insurance, health insurance, a clinic, and business capitalization. It is the largest insurance corporation in Colombia. Different from other service firms with comparable size, this corporation has centralized its innovation...
Abstract-Human Resources play a very important role in Insurance industry such as in banking and other Services organizations. Employee is an invaluable asset for the success and growth of an organization. Employees or Human Resources of any institution/organization/company are fundamental assets who transform from material assets to productive resources in order to satisfy the social needs of the...
The paper presents the findings of an industry-based study in the utility of text categorization. The purpose of the study is to explore new approach to evaluate service quality of customer complaint handling. The industrial research setting is a large China insurance company. The text categorization methodologies are used in this research including nature language processing and machine learning...
This paper gives a brief analysis of the current China's Internet financial ecosystem, analyzes the Internet financial important ten types of products on the market, briefly analyzes the relationship between them, and its importance in the future development.
The notable features of guarantee program differing from traditional project are high degree of information asymmetry and risk uncertainty. The evaluation for credit insurance risk is the key to insurance organization. In this paper, limitations of the traditional NPV evaluation method are proposed. A credit risk pricing model of the guarantee project is put forward based on the real options, which...
Pay-how-you-drive (PHYD), which is a driving behavior related premium rate setting method in usage based insurance (UBI), has drawn widespread attention in commercial vehicle insurance as well as internet-of-vehicle (IoV) industry nowadays, for it can not only help insurance companies to fully master the driving information of all insured vehicles, but can help to establish a corresponding premium...
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