The use of personalization mechanisms should allow the insurance distributor to reduce exploration costs and adjust the … offered insurance product to the needs, features, and situation of each individual client. This study seeks to examine how … liability should be allocated when the process of the personalization of an insurance product does not result in the client …

perturbation theory to derive an approximate tractable expression for this cost adjusted for climatic and economic risk. We allow … sensitivity and the damage ratio, and correlated shocks. We identify prudence, insurance, and exposure effects, reproduce earlier …

Insurance companies issue guarantees that need to be valued according to the market expectations. By calibrating option … values of these guarantees. Next to that, new regulations require insurance companies to value their positions on a one …

and the banking/insurance/reinsurance industry. Koch (2017) introduced a notion of spatial risk measure and a … theory for both actuarial science and practice. Second, in the case of a general cost field, we give sufficient conditions … the risk of extreme events since they appear as a natural extension of multivariate extreme-value theory to the level of …

The valuation of insurance liabilities has traditionally been dealt with by actuaries, who closely monitored underlying …

This article studies insurance demand in a two-period framework in which an individual faces risks in both current and … future periods. Models for insurance with and without the presence of endogenous saving are both discussed. In contrast to … what most literature suggests, when decisions on insurance and saving are made separately, insurance alone does not always …