Increasing retirement ages in an automatic or scheduled way with increasing life expectancy at retirement is a popular pension policy response to continuous longevity improvements. The question addressed here is: to what extent is simply adopting this approach likely to fulfill the overall goals...

We analyse four stochastic claims reserving methods in terms of their capability to estimate reserve risk and how successful they are at predicting distributions and VaRs of claim developments in particular. Both actual data and hypothetical claim triangles support our results. The...

We consider a defined-contribution (DC)-pension-fund-management problem under partial information. The fund manager is allowed to invest the wealth from the fund account into a financial market consisting of a risk-free account, a stock and a rolling bond. The aim of the fund manager is to...

Online activity increasing spreads with the power of technological development. Many studies reported the impact of online activities on decision making. From the statistical perspective, decision making is related to statistical inference. In this regard, it is interesting to propose a new...

Pooled annuity products, where the participants share systematic and idiosyncratic mortality risks as well as investment returns and risk, provide an attractive and effective alternative to traditional guaranteed life annuity products. While longevity risk sharing in pooled annuities has...

This study examines the antecedents/determinants of behavioral intentions toward the utilization of Islamic financial technology for Middle Eastern customers. The study applied structural equation modeling (PLS-SEM). After robust research efforts were invested in the identification of factors,...

When the uni-variate risk measure analysis is generalized into the multi-variate setting, many complex theoretical and applied problems arise, and therefore the mathematical models used for risk quantification usually present model risk. As a result, regulators have started to require that the...

The bonus-malus system (BMS) is one of the most widely used tools in merit-rating automobile insurance, with the primary goal of ensuring that fair premiums are paid by all policyholders. The traditional BMS is dependent only on the claim frequency. Thus, an insured person who makes a claim with...

Affine mortality models are well suited for theoretical and practical application in pricing and risk management of mortality risk. They produce consistent, closed-form stochastic survival curves allowing for the efficient valuation of mortality-linked claims. We model USA age-cohort mortality...