Tree-based models have gained momentum in insurance claim loss modeling; however, the point mass at zero and the heavy tail of insurance loss distribution pose the challenge to apply conventional methods directly to claim loss modeling. With a simple illustrative dataset, we first demonstrate...

While advances in information technology and interconnectivity have improved efficiency for transportation infrastructure, they have also created higher risk associated with cyber systems. The objective of this study is to inform transportation policy and management in the U.S. by identifying...

Decentralized insurance can be used to describe risk sharing mechanisms under which participants trade risks among each other as opposed to passing risks mostly to an insurer in traditional centralized insurance. There are a wide range of decentralized practices in all kinds of forms developed...