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We discuss rare event simulation techniques based on state-dependent importance sampling. Classical examples and counter-examples are shown to illustrate the reach and limitations of the state-independent approach. State-dependent techniques are helpful to deal with these limitations. These techniques can be applied to both light and heavy tailed systems and often are based on subsolutions to an associated...
Earthquake is one of the serious disasters which may induce heavy casualties and economic losses. Japan is a country with frequent earthquake disasters. Administrative authority for disaster management in Japan covers the central government, local governments and public institutions. Earthquake insurance has become the important way to manage significant disastrous risk in Japan. As a socialized system...
The Net Promoter Score (NPS) has gained popularity and is now used by many companies as an indicator of customer loyalty. We claim that the NPS is an inaccurate of customer loyalty and that the conclusions derived from the NPS are heavily influenced by gender differences with respect to the underlying distribution of the data. In order to verify our claim we draw upon a test conducted among Danish...
This article examines patterns of changes in state-owned capital and private capital in Chinese insurance industry over a fifteen-year period, 1995 to 2009, to assess whether the boundaries of the state as a participant in insurance industry have significantly declined. The conclusion is that privatization in insurance industry presents different characteristics from other fields in which the state-owned...
The growing complexity of processes in many organizations stimulates the adoption of business process analysis techniques. Typically, such techniques are based on process models and assume that the operational processes in reality conform to these models. However, experience shows that reality often deviates from hand-made models. Therefore, the problem of checking to what extent the operational process...
Enterprises were the main finance provider of social insurance system. It was important for government to measure social insurance financial burden precisely. This paper designed an index named "enterprise's social insurance premium burden rate" based on enterprise's balance sheet and made an empirical study based on 842 A share listed companies in Shanghai stock exchange. Result showed...
From the prospective of the international trends, integrated risk measurement is now an increasingly important risk management tool for insurance enterprises. This paper tentatively uses a copula model in order to measure the economic capital of integrated risks of insurance enterprises in China. Use an insurance enterprise to explain how to measure the economic capital of integrated risks. And the...
After the recent economic meltdown, it was very difficult for the organizations to maintain sustainability. It has been observed that varieties of strategies were taken by different organizations to cope up with the situation and maintain profitability. Financial institutions i.e. Banking, insurance, share-brooking firms etc were most affected due to economic meltdown. Organizations have not emphasized...
Using data on China's Listed Companies and accounting firms during 1998-2007, from the customer risk management perspective, the article empirically tested the motives of insurance of needs audit and found: the audit risk of resignation customer in an accounting firm has negative correlation with the cross-term: scale of the accounting firm and the Firm Boundary value of acceptable risk, as firms...
The essence of tourism security issues is the inefficient allocation of travel safety risk. The market allocation of travel safety risk is resulted by the positive externalities of tourism security, the negative internalities of tourism transaction and the defects of market competition; the institution of tourism security responsibility and the current insurance system does not provide scientific...
Through the analysis of the incentive of mechanism, the paper put forward a model of the insurance agents in secure market, and the model can help the insurer give the insurance agents reward and punishment
Bank insurance is a product of modern financial innovation, within a short time has grown an important sector to promote the development of Chinese insurance and bank industries, this paper analyzes the development process and problems of Chinese bank insurance, and proposes a few strategies to develop Chinese bank insurance deep-seatedly.
With the development of automobile industry in China, talents for car assessment are in short supply. To bring up talents is an essential task for universities. Through questionnaire surveys, it summed up the traits in the construction of car assessment and analysis the major problems. Combining with the talent needs of markets, it brought out strategies in teaching method, practice, teaching management...
Agricultural risk diversification and loss compensation are main content of agricultural development. Agricultural insurance and produce futures are major approaches to spread agricultural risks and to offset the loss. A series of measures should be proposed to manage risk and compensate the loss of agricultural risk in Xinjiang, such as to perfect the risk spreading system of agriculture insurance,...
The value of Unitized With-Profit contract is affected by surrender, guaranteed interest rate and bonus strategy. This paper is intended to construct a valuation model for Unitized With-Profit Contract considering all these factors. In this model, these elements can be valued separately underpinned by Monte Carlo techniques. From the numerical results, we concluded that the effect of surrender option...
Interest-rate risk is one of key factors to influence the operation of life insurance industry. This paper analyses the influence on the liability of Chinese life insurance industry, brought about by recent years' continual interest rate cut, and describes quantitatively the exposure level of the reserve fund to the interest rate risk. Furthermore, scenario analysis and stress testing was applied...
Based on the background of incentive mechanism of AA Co., first analyzes the current situation of incentive mechanism, and then has an in-depth understanding of incentive mechanism of the company. Based on motivation theory analyzes the incentive situation in qualitative and quantitative way, and find the main problems existing in the incentive mechanism, and the reason of negative of staff. Work...
china promotes engineering guarantee system vigorously to standardize the construction market, performance the construction contract and realize the claims. And the market of engineering guarantee becomes active. This paper analyzes the implementation situation of china's engineering guarantee and the present situation of the market, and summarizes the problems of the engineering guarantee system...
The design of compensation and benefits system is reasonable or not largely affects the fate of employees. The motivation influence of the wage levels and employee benefits, which plays an important role for increasing the enthusiasm of the staff and improving the production efficiency. Satisfied with the compensation and benefits is the core of human resource management, which makes a tremendous...
The connotation of “Going Global” is abundant, which contains goods export, service export, technology export, investment abroad, foreign loans, foreign aid and personnel emigration, etc. Establishing the strategy of “Going Global” is an important part of the domestic overall opening-up strategy. The Chinese enterprises, especially the private enterprises going global and developing international...
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