This paper provides a flexible multi-factor framework to address some ongoing challenges in mortality modeling, with a special focus on the mortality curvature and possible mortality plateau for extremely old ages. We extend the Gompertz law Gompertz (1825) by proposing a multi-factor...

In the past decade, cyber insurance has raised much interest in the insurance industry, and cyber risk has evolved from a type of pure operational risk to both operational and liability risk for insurers. However, the modeling of cyber risk is still in its infancy. Compared with other insurance...

We propose new neighbouring prediction models for mortality forecasting. For each mortality rate at age x in year t, denoted as mx,t, we construct images of neighbourhood mortality data around mx,t, i.e., ℇmx,t (x1, x2, s), which includes mortality information for ages in [x − x1, x + x2],...

We propose a new machine learning-based framework for long-term mortality forecasting. Based on ideas of neighbouring prediction, model ensembling, and tree boosting, this framework can significantly improve the prediction accuracy of long-term mortality. In addition, the proposed framework...

Effective agricultural insurance and risk management program rely on accurate crop yield forecasting. In this paper, we propose a novel deep factor model for crop yield forecasting and crop insurance ratemaking. This framework first utilizes a deep autoencoder to extract a latent factor, called...