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In the past 30 years, as sponsors of defined benefit (DB) pension plans were facing more severe underfunding challenges, pension de-risking strategies have become prevalent for firms with DB plans to reduce pension-related risks. However, it remains unclear how pension de-risking activities...
Persistent link: https://www.econbiz.de/10013093064
Given the computational challenges associated with valuing large variable annuity (VA) portfolios, a variety of data mining frameworks, including metamodeling and active learning, have been proposed in recent years. Active learning, a promising alternative to metamodeling, enhances the...
Persistent link: https://www.econbiz.de/10014636846
The growing trend in the number and severity of auto insurance claims creates a needfor new methods to efficiently handle these claims. Machine learning (ML) is one of the methodsthat solves this problem. As car insurers aim to improve their customer service, these companieshave started adopting...
Persistent link: https://www.econbiz.de/10012483213
Predicting if a client is worth giving a loan-credit scoring-is one of the most essential and popular problems in banking. Predictive models for this goal are built on the assumption that there is a dependency between the client's profile before the loan approval and their future behavior....
Persistent link: https://www.econbiz.de/10012508541
For automobile insurance, it has long been implied that when a policyholder made at least one claim in the prior year, the subsequent premium is likely to increase. When this happens, the policyholder may seek to switch to another insurance company to possibly avoid paying for a higher premium....
Persistent link: https://www.econbiz.de/10011890671
One crucial task of actuaries is to structure data so that observed events are explained by their inherent risk factors. They are proficient at generalizing important elements to obtain useful forecasts. Although this expertise is beneficial when paired with conventional statistical models, it...
Persistent link: https://www.econbiz.de/10012422901
The aim of this paper is to deepen the application of value at risk in the cyber domain, with particular attention to its potential role in security investment valuation. Cyber risk is a fundamental component of the overall risk faced by any organization. In order to plan the size of security...
Persistent link: https://www.econbiz.de/10012698332
Cyber insurance ratemaking (CIRM) is a procedure used to set rates (or prices) for cyber insurance products provided by insurance companies. Rate estimation is a critical issue for cyber insurance products. This problem arises because of the unavailability of actuarial data and the uncertainty...
Persistent link: https://www.econbiz.de/10012794203
The increasing rate at which IoT technologies are being developed has enabled smarter and innovative solutions in the sectors of health, energy, transportation, etc. Unfortunately, some inherent characteristics of these technologies are compromised to attack. Naturally, risk analysis emerges, as...
Persistent link: https://www.econbiz.de/10013365630
Classification models are very sensitive to data uncertainty, and finding robust classifiers that are less sensitive to data uncertainty has raised great interest in the machine learning literature. This paper aims to construct robust support vector machine classifiers under feature data...
Persistent link: https://www.econbiz.de/10013368291