This study aims to understand how InsurTech has developed in Korea. To achieve this, we collected InsurTech-related news articles published in the Korean media over the past eight years. Using a relatedness analysis based on the TopicRank algorithm, a text mining technique, we extracted the top...

We document a novel transmission channel of monetary policy through the homeowners insurance market. On average, contractionary monetary policy shocks result in higher homeowners insurance prices. Using granular data on insurers' balance sheets, we show that this effect is driven by the...

Global events and geopolitical upheavals, from the COVID-19 pandemic to the US-China trade conflict and Russia-Ukraine war, have propelled the world towards geoeconomic fragmentation. This trend is exemplified by shifts away from free trade and globally integrated supply chains in favour of...

This study examines the geographical spillover of the state-level average homeowners insurance cost for 48 US contiguous states. We estimate a panel spatial Durbin model with state and year fixed effect for data between 2001 and 2018. We found a significant positive spillover of average...

We argue that capital misallocation arises endogenously due to incomplete consumption insurance. We model risk-averse entrepreneurs with heterogeneous productivity who face idiosyncratic output shocks and choose how much capital to rent before uncertainty unfolds. We show that incomplete markets...

This paper empirically explores the early development of insurance projects in the decentralized finance (DeFi) industry, which is based on disruptive technologies like blockchain and smart contracts. A brief history of DeFi is narrated stressing four risks of DeFi (volatility risk, cyberattack...

Der Investitionsbedarf für die Transformation zu einer klimaneutralen Wirtschaft in Europa wird von der Europäischen Kommission in der Basisvariante auf jährlich 7% bis 8% des Bruttoinlandsproduktes geschätzt. Die Versicherungswirtschaft kann die Transformation in erster Linie durch eine...

Purpose - The purpose of this paper is to report on how the barriers that prevent or hinder the applicability of artificial intelligence (AI) impact its use in an insurance company. Design/methodology/approach - Through bibliographic research, this paper maps the literature to identify the...

We propose a method for calibrating high-dimensional parameters in the Hull-White one-factor model using market prices of swaptions, aimed at generating mark-to-market interest rate scenarios in the Korean insurance industry. Our approach integrates a trust region-based Bayesian optimization...

In an era of the overlapping effects of the Covid pandemic and the conflict in Ukraine, it is worth taking a closer look at the markets that focus on risk management, that is, the insurance market, in terms of its further organization and development. The aim of the paper is to examine how the...

Investment and insurance constitute pivotal subjects in financial management, especially in an era characterized by inflation. Unit-Linked Insurance Plans (ULIPs), with a unique combination of investment risks and insurance protection, potentially trigger distinct psychological processes that...

The aim of this article is to explore the impact of digitalization on corporate social responsibility (CSR) in the automobile insurance sector in Morocco. This article first explores the theoretical and conceptual foundations of digital transformation and CSR. A mixed methods approach is then...

This paper documents the extension of the system-wide stress testing framework of the ECB with the insurance sector for a more thorough assessment of risks to financial stability. The special nature of insurers is captured by the modelling of the liability side and its loss absorbing capacity of...