A Risky Business: An Actuary's Guide to Quantifying and Managing Risk in Society
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cham
Springer International Publishing AG
2022
|
| Ausgabe: | 1st ed |
| Schlagworte: | |
| Online-Zugang: | HWR01 |
| Beschreibung: | Description based on publisher supplied metadata and other sources |
| Beschreibung: | 1 Online-Ressource (415 Seiten) |
| ISBN: | 9783031116735 |
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| 505 | 8 | |a Intro -- Preface -- Acknowledgments -- The Non-actuaries -- The Actuaries -- The Future Actuaries -- Contents -- List of Figures -- List of Tables -- 1 Introduction -- 1.1 Introduction to Risk -- 1.2 There's No Business Like... -- 1.3 Can I Insure That? -- 1.4 Risk by Numbers -- 1.4.1 Risk Metrics -- 1.4.2 Success Metrics -- 2 A Short History of Actuarial Work -- 2.1 I'll Be There For You: The Beginning of Lloyd's -- 2.2 Pooling -- 2.3 San Francisco and Uberrima Fides -- 2.4 Lloyd's as a Marketplace -- 2.5 The Role of Actuarial Institutes Around the World -- 3 Products and Perils -- 3.1 What Could Possibly Go Wrong? -- 3.1.1 Property Damage -- 3.1.2 Liability -- 3.1.3 Financial Loss -- 3.1.4 Fixed Benefit -- 3.2 Boats, Buildings, and Beckham: An Introduction to Types of Insurance -- 3.2.1 Motor Insurance -- 3.2.2 Property Insurance -- 3.2.3 Business Insurance -- 3.2.4 Bespoke Financial Loss Policies -- 3.3 New Products, New Possibilities, New Problems -- 3.3.1 Environmental, Social, and Governance Sustainability in Insurance and Pensions -- 3.4 Case Study: Drone Insurance -- 4 Data -- 4.1 More Is More: Data for Beginners -- 4.1.1 More data gives more certainty -- 4.2 Data Is (a Bit Like) the New Oil -- 4.3 Exposure Data -- 4.4 The Importance of Being Earnest (and Honest): GDPR and Ethics in Actuarial Work -- 4.4.1 Who Cares About GDPR? -- 4.4.2 What Are the Broad Aims of GDPR? -- 4.4.3 What Are the New Consumer Rights? -- 4.4.4 What Does GDPR Mean for Actuaries? -- 4.4.5 Price-Walking -- 4.4.6 Discriminatory Data -- 4.4.7 Environmental, Social, and Governance (ESG) and Sustainable Investment -- 4.5 The Future of Data: Insurtech and AI -- 4.5.1 Telematics -- 4.5.2 Smart Appliances and Wearable Tech -- 4.5.3 Machine Learning -- 5 Annuities -- 5.1 Interested in Interest? -- 5.2 Introduction to Annuities -- 5.3 Variations on Annuities | |
| 505 | 8 | |a 5.3.1 Annuities Paid Monthly -- 5.3.2 Deferred Annuities -- 5.3.3 Increasing Annuities -- 5.3.4 Perpetuities -- 5.4 IOU: Calculating Loan Repayments -- 5.5 Worked Example -- 6 Life-Dependent Products: Your Money or Your Life -- 6.1 When Will They Die? (And Other Morbid Questions) -- 6.2 What Life Tables Tell Us About Life -- 6.3 Calculations with Life Tables -- 6.4 Life-Dependent Annuities -- 6.5 Variation in Mortality Rates -- 6.5.1 Occupation -- 6.5.2 Smoking -- 6.5.3 Income-Related Risk Factors -- 6.5.4 Genetics -- 6.5.5 Selection Bias -- 6.6 Joint Life Annuities -- 6.7 Reversionary Annuities -- 7 Pensions: Who Pays? -- 7.1 A Short History of Pensions -- 7.2 Defining Defined Benefit Schemes -- 7.3 The DB Disappearance -- 7.4 The Fundamentals of Funding -- 7.4.1 Regular Contribution -- 7.4.2 Terminal Funding -- 7.4.3 Pay As You Go -- 7.5 Social Care -- 8 Pricing: The Science of Estimating the Risk Cost -- 8.1 Why Estimate the Risk Cost? -- 8.2 Getting to Know (People Like) You -- 8.3 Anti-Selection -- 8.4 An Introduction to Generalized Linear Models for Insurance Pricing -- 8.5 Worked Example: Pricing Pet Insurance -- 8.6 Pricing for Large Risks -- 9 Pricing: The Art of Estimating Everything Else -- 9.1 Types of Non-risk Costs -- 9.1.1 Wages, Rent, and Other Operating Expenses -- 9.1.2 Insurance and Reinsurance -- 9.1.3 Commission and Acquisition Expenses -- 9.1.4 Profit Loading -- 9.1.5 Investment Income -- 9.1.6 Insurance Premium Tax -- 9.2 Insurance Fraud -- 9.3 The Insurance Cycle -- 10 Reserving: First Principles -- 10.1 Principles of Reserving -- 10.2 Types of Claim Data -- 10.3 Using Patterns in Data -- 10.4 Injury Claims and PPOs -- 11 Reserving: Methods -- 11.1 Chain Ladder Method -- 11.2 Expected Loss Ratio method -- 11.3 The Bornhuetter-Ferguson Method -- 11.4 Alternative Reserving Methods -- 11.4.1 The ACPC Method | |
| 505 | 8 | |a 11.4.2 Curve Fitting -- 11.4.3 Stochastic Methods -- 11.4.4 Machine Learning -- 12 In Case of Emergency: Capital Requirements -- 12.1 That's Capital! -- 12.2 How Much Capital Should be Held? -- 12.3 Solvency -- 12.4 Solvency II -- 12.4.1 What is Solvency II? -- 12.4.2 How Much is the Capital Requirement Under Solvency II? -- 12.4.3 What Kinds of Assets are Allowed Under Solvency II? -- 12.5 Capital Calculation Methods -- 12.5.1 Risk Measures -- 12.5.2 Risk Allocation Methods -- 12.6 Inadequate Capital: A Warning from History -- 12.6.1 Transit: 'The Titanic of Insurance Insolvencies' -- 13 Reinsurance -- 13.1 A Problem Shared: An Introduction to Reinsurance -- 13.1.1 Proportional Reinsurance -- 13.1.2 Excess of Loss Reinsurance (XL) -- 13.2 The LMX Spiral -- 13.3 Reinsurance to Close -- 13.4 Sharing Risk Outside of Insurance -- 13.4.1 Risk Transfer to the Financial Sector -- 13.4.2 Transferring Risk to the Public Sector -- 13.4.2.1 Case Study: Flood Re -- 13.4.2.2 Other Public Sector Flood Insurance Models -- 14 Catastrophes -- 14.1 Modeling Natural Catastrophes -- 14.2 Lessons from Hurricane Katrina -- 14.2.1 Lesson 1: Run for Cover -- 14.2.2 Lesson 2: Count the Seconds -- 14.2.3 Lesson 3: Take a Break (into Consideration) -- 14.2.4 Lesson 4: Social Good, but Profit Better -- 14.2.5 Lesson 5: It Never Rains but It Pours -- 14.3 Promising the World - the Challenge and Benefits of the Globalization of Insurance -- 14.4 A Micro Introduction to Microinsurance -- 14.5 Cyber Insurance -- 15 Climate Change and Biodiversity Loss -- 15.1 Climate Change -- 15.2 From A(ctuary) to Z(oonotic) -- 15.2.1 Underwriting Exclusions -- 15.2.2 Creating a Biodiversity Loss Metric -- 15.2.3 Calculating the Value of Biodiversity to Insurers -- 16 Latent Claims: A Problem for Another Day -- 16.1 An Introduction to... (Wait for It) .... Latent Claims | |
| 505 | 8 | |a 16.2 Asbestos: The Wonder Fabric with a Dark Secret -- 16.3 The Blame Game: Insurance and the Law -- 16.4 Environmental Claims -- 17 Modeling Coronavirus-19 -- 17.1 Modeling in a Crisis -- 17.2 Modeling Coronavirus-19 Spread -- 17.3 Re-modeling (and Re-modeling and Re-modeling) Coronavirus Spread -- 17.4 Covid Corollaries: The Effect of the Pandemic on Insurance and Pensions -- 18 Careers in Actuarial Science -- 18.1 What Do You Need to Be an Actuary? -- 18.2 Professional Qualifications -- 18.2.1 IFoA Exams-The Detail -- 18.2.2 SOA and CAS Exams-The Detail -- 18.3 Exam FAQs -- 18.4 Professional Development -- 18.5 The International Market for Actuarial Science -- 18.6 A Day in the Life of an Actuarial Analyst -- 18.6.1 A Day in the Life of a Pricing Analyst -- 18.6.2 A Day in the Life of a Reserving Analyst -- 18.7 Final Remarks on Actuarial Careers -- 19 Looking Forward: The Future of Actuarial Work -- 19.1 It's The End of The World as We Know it-And We'll Be Fine -- Appendices -- Appendix A: Table of Compound Interest, for 3% and 5% Effective Interest Per Annum -- Appendix B: Life Tables for UK Male and Female Lives -- Appendix C: Net Present Value of Life-Dependent Annuities for 3% and 5% Interest Rates -- Glossary -- Index | |
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Datensatz im Suchindex
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| author | Townsend, Catrin |
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| author_variant | c t ct |
| building | Verbundindex |
| bvnumber | BV049408634 |
| collection | ZDB-30-PQE |
| contents | Intro -- Preface -- Acknowledgments -- The Non-actuaries -- The Actuaries -- The Future Actuaries -- Contents -- List of Figures -- List of Tables -- 1 Introduction -- 1.1 Introduction to Risk -- 1.2 There's No Business Like... -- 1.3 Can I Insure That? -- 1.4 Risk by Numbers -- 1.4.1 Risk Metrics -- 1.4.2 Success Metrics -- 2 A Short History of Actuarial Work -- 2.1 I'll Be There For You: The Beginning of Lloyd's -- 2.2 Pooling -- 2.3 San Francisco and Uberrima Fides -- 2.4 Lloyd's as a Marketplace -- 2.5 The Role of Actuarial Institutes Around the World -- 3 Products and Perils -- 3.1 What Could Possibly Go Wrong? -- 3.1.1 Property Damage -- 3.1.2 Liability -- 3.1.3 Financial Loss -- 3.1.4 Fixed Benefit -- 3.2 Boats, Buildings, and Beckham: An Introduction to Types of Insurance -- 3.2.1 Motor Insurance -- 3.2.2 Property Insurance -- 3.2.3 Business Insurance -- 3.2.4 Bespoke Financial Loss Policies -- 3.3 New Products, New Possibilities, New Problems -- 3.3.1 Environmental, Social, and Governance Sustainability in Insurance and Pensions -- 3.4 Case Study: Drone Insurance -- 4 Data -- 4.1 More Is More: Data for Beginners -- 4.1.1 More data gives more certainty -- 4.2 Data Is (a Bit Like) the New Oil -- 4.3 Exposure Data -- 4.4 The Importance of Being Earnest (and Honest): GDPR and Ethics in Actuarial Work -- 4.4.1 Who Cares About GDPR? -- 4.4.2 What Are the Broad Aims of GDPR? -- 4.4.3 What Are the New Consumer Rights? -- 4.4.4 What Does GDPR Mean for Actuaries? -- 4.4.5 Price-Walking -- 4.4.6 Discriminatory Data -- 4.4.7 Environmental, Social, and Governance (ESG) and Sustainable Investment -- 4.5 The Future of Data: Insurtech and AI -- 4.5.1 Telematics -- 4.5.2 Smart Appliances and Wearable Tech -- 4.5.3 Machine Learning -- 5 Annuities -- 5.1 Interested in Interest? -- 5.2 Introduction to Annuities -- 5.3 Variations on Annuities 5.3.1 Annuities Paid Monthly -- 5.3.2 Deferred Annuities -- 5.3.3 Increasing Annuities -- 5.3.4 Perpetuities -- 5.4 IOU: Calculating Loan Repayments -- 5.5 Worked Example -- 6 Life-Dependent Products: Your Money or Your Life -- 6.1 When Will They Die? (And Other Morbid Questions) -- 6.2 What Life Tables Tell Us About Life -- 6.3 Calculations with Life Tables -- 6.4 Life-Dependent Annuities -- 6.5 Variation in Mortality Rates -- 6.5.1 Occupation -- 6.5.2 Smoking -- 6.5.3 Income-Related Risk Factors -- 6.5.4 Genetics -- 6.5.5 Selection Bias -- 6.6 Joint Life Annuities -- 6.7 Reversionary Annuities -- 7 Pensions: Who Pays? -- 7.1 A Short History of Pensions -- 7.2 Defining Defined Benefit Schemes -- 7.3 The DB Disappearance -- 7.4 The Fundamentals of Funding -- 7.4.1 Regular Contribution -- 7.4.2 Terminal Funding -- 7.4.3 Pay As You Go -- 7.5 Social Care -- 8 Pricing: The Science of Estimating the Risk Cost -- 8.1 Why Estimate the Risk Cost? -- 8.2 Getting to Know (People Like) You -- 8.3 Anti-Selection -- 8.4 An Introduction to Generalized Linear Models for Insurance Pricing -- 8.5 Worked Example: Pricing Pet Insurance -- 8.6 Pricing for Large Risks -- 9 Pricing: The Art of Estimating Everything Else -- 9.1 Types of Non-risk Costs -- 9.1.1 Wages, Rent, and Other Operating Expenses -- 9.1.2 Insurance and Reinsurance -- 9.1.3 Commission and Acquisition Expenses -- 9.1.4 Profit Loading -- 9.1.5 Investment Income -- 9.1.6 Insurance Premium Tax -- 9.2 Insurance Fraud -- 9.3 The Insurance Cycle -- 10 Reserving: First Principles -- 10.1 Principles of Reserving -- 10.2 Types of Claim Data -- 10.3 Using Patterns in Data -- 10.4 Injury Claims and PPOs -- 11 Reserving: Methods -- 11.1 Chain Ladder Method -- 11.2 Expected Loss Ratio method -- 11.3 The Bornhuetter-Ferguson Method -- 11.4 Alternative Reserving Methods -- 11.4.1 The ACPC Method 11.4.2 Curve Fitting -- 11.4.3 Stochastic Methods -- 11.4.4 Machine Learning -- 12 In Case of Emergency: Capital Requirements -- 12.1 That's Capital! -- 12.2 How Much Capital Should be Held? -- 12.3 Solvency -- 12.4 Solvency II -- 12.4.1 What is Solvency II? -- 12.4.2 How Much is the Capital Requirement Under Solvency II? -- 12.4.3 What Kinds of Assets are Allowed Under Solvency II? -- 12.5 Capital Calculation Methods -- 12.5.1 Risk Measures -- 12.5.2 Risk Allocation Methods -- 12.6 Inadequate Capital: A Warning from History -- 12.6.1 Transit: 'The Titanic of Insurance Insolvencies' -- 13 Reinsurance -- 13.1 A Problem Shared: An Introduction to Reinsurance -- 13.1.1 Proportional Reinsurance -- 13.1.2 Excess of Loss Reinsurance (XL) -- 13.2 The LMX Spiral -- 13.3 Reinsurance to Close -- 13.4 Sharing Risk Outside of Insurance -- 13.4.1 Risk Transfer to the Financial Sector -- 13.4.2 Transferring Risk to the Public Sector -- 13.4.2.1 Case Study: Flood Re -- 13.4.2.2 Other Public Sector Flood Insurance Models -- 14 Catastrophes -- 14.1 Modeling Natural Catastrophes -- 14.2 Lessons from Hurricane Katrina -- 14.2.1 Lesson 1: Run for Cover -- 14.2.2 Lesson 2: Count the Seconds -- 14.2.3 Lesson 3: Take a Break (into Consideration) -- 14.2.4 Lesson 4: Social Good, but Profit Better -- 14.2.5 Lesson 5: It Never Rains but It Pours -- 14.3 Promising the World - the Challenge and Benefits of the Globalization of Insurance -- 14.4 A Micro Introduction to Microinsurance -- 14.5 Cyber Insurance -- 15 Climate Change and Biodiversity Loss -- 15.1 Climate Change -- 15.2 From A(ctuary) to Z(oonotic) -- 15.2.1 Underwriting Exclusions -- 15.2.2 Creating a Biodiversity Loss Metric -- 15.2.3 Calculating the Value of Biodiversity to Insurers -- 16 Latent Claims: A Problem for Another Day -- 16.1 An Introduction to... (Wait for It) .... Latent Claims 16.2 Asbestos: The Wonder Fabric with a Dark Secret -- 16.3 The Blame Game: Insurance and the Law -- 16.4 Environmental Claims -- 17 Modeling Coronavirus-19 -- 17.1 Modeling in a Crisis -- 17.2 Modeling Coronavirus-19 Spread -- 17.3 Re-modeling (and Re-modeling and Re-modeling) Coronavirus Spread -- 17.4 Covid Corollaries: The Effect of the Pandemic on Insurance and Pensions -- 18 Careers in Actuarial Science -- 18.1 What Do You Need to Be an Actuary? -- 18.2 Professional Qualifications -- 18.2.1 IFoA Exams-The Detail -- 18.2.2 SOA and CAS Exams-The Detail -- 18.3 Exam FAQs -- 18.4 Professional Development -- 18.5 The International Market for Actuarial Science -- 18.6 A Day in the Life of an Actuarial Analyst -- 18.6.1 A Day in the Life of a Pricing Analyst -- 18.6.2 A Day in the Life of a Reserving Analyst -- 18.7 Final Remarks on Actuarial Careers -- 19 Looking Forward: The Future of Actuarial Work -- 19.1 It's The End of The World as We Know it-And We'll Be Fine -- Appendices -- Appendix A: Table of Compound Interest, for 3% and 5% Effective Interest Per Annum -- Appendix B: Life Tables for UK Male and Female Lives -- Appendix C: Net Present Value of Life-Dependent Annuities for 3% and 5% Interest Rates -- Glossary -- Index |
| ctrlnum | (ZDB-30-PQE)EBC7102025 (ZDB-30-PAD)EBC7102025 (ZDB-89-EBL)EBL7102025 (OCoLC)1375294703 (DE-599)BVBBV049408634 |
| dewey-full | 368.01 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 368 - Insurance |
| dewey-raw | 368.01 |
| dewey-search | 368.01 |
| dewey-sort | 3368.01 |
| dewey-tens | 360 - Social problems and services; associations |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 1st ed |
| format | Electronic eBook |
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-- 1.4 Risk by Numbers -- 1.4.1 Risk Metrics -- 1.4.2 Success Metrics -- 2 A Short History of Actuarial Work -- 2.1 I'll Be There For You: The Beginning of Lloyd's -- 2.2 Pooling -- 2.3 San Francisco and Uberrima Fides -- 2.4 Lloyd's as a Marketplace -- 2.5 The Role of Actuarial Institutes Around the World -- 3 Products and Perils -- 3.1 What Could Possibly Go Wrong? -- 3.1.1 Property Damage -- 3.1.2 Liability -- 3.1.3 Financial Loss -- 3.1.4 Fixed Benefit -- 3.2 Boats, Buildings, and Beckham: An Introduction to Types of Insurance -- 3.2.1 Motor Insurance -- 3.2.2 Property Insurance -- 3.2.3 Business Insurance -- 3.2.4 Bespoke Financial Loss Policies -- 3.3 New Products, New Possibilities, New Problems -- 3.3.1 Environmental, Social, and Governance Sustainability in Insurance and Pensions -- 3.4 Case Study: Drone Insurance -- 4 Data -- 4.1 More Is More: Data for Beginners -- 4.1.1 More data gives more certainty -- 4.2 Data Is (a Bit Like) the New Oil -- 4.3 Exposure Data -- 4.4 The Importance of Being Earnest (and Honest): GDPR and Ethics in Actuarial Work -- 4.4.1 Who Cares About GDPR? -- 4.4.2 What Are the Broad Aims of GDPR? -- 4.4.3 What Are the New Consumer Rights? -- 4.4.4 What Does GDPR Mean for Actuaries? -- 4.4.5 Price-Walking -- 4.4.6 Discriminatory Data -- 4.4.7 Environmental, Social, and Governance (ESG) and Sustainable Investment -- 4.5 The Future of Data: Insurtech and AI -- 4.5.1 Telematics -- 4.5.2 Smart Appliances and Wearable Tech -- 4.5.3 Machine Learning -- 5 Annuities -- 5.1 Interested in Interest? -- 5.2 Introduction to Annuities -- 5.3 Variations on Annuities</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">5.3.1 Annuities Paid Monthly -- 5.3.2 Deferred Annuities -- 5.3.3 Increasing Annuities -- 5.3.4 Perpetuities -- 5.4 IOU: Calculating Loan Repayments -- 5.5 Worked Example -- 6 Life-Dependent Products: Your Money or Your Life -- 6.1 When Will They Die? (And Other Morbid Questions) -- 6.2 What Life Tables Tell Us About Life -- 6.3 Calculations with Life Tables -- 6.4 Life-Dependent Annuities -- 6.5 Variation in Mortality Rates -- 6.5.1 Occupation -- 6.5.2 Smoking -- 6.5.3 Income-Related Risk Factors -- 6.5.4 Genetics -- 6.5.5 Selection Bias -- 6.6 Joint Life Annuities -- 6.7 Reversionary Annuities -- 7 Pensions: Who Pays? -- 7.1 A Short History of Pensions -- 7.2 Defining Defined Benefit Schemes -- 7.3 The DB Disappearance -- 7.4 The Fundamentals of Funding -- 7.4.1 Regular Contribution -- 7.4.2 Terminal Funding -- 7.4.3 Pay As You Go -- 7.5 Social Care -- 8 Pricing: The Science of Estimating the Risk Cost -- 8.1 Why Estimate the Risk Cost? -- 8.2 Getting to Know (People Like) You -- 8.3 Anti-Selection -- 8.4 An Introduction to Generalized Linear Models for Insurance Pricing -- 8.5 Worked Example: Pricing Pet Insurance -- 8.6 Pricing for Large Risks -- 9 Pricing: The Art of Estimating Everything Else -- 9.1 Types of Non-risk Costs -- 9.1.1 Wages, Rent, and Other Operating Expenses -- 9.1.2 Insurance and Reinsurance -- 9.1.3 Commission and Acquisition Expenses -- 9.1.4 Profit Loading -- 9.1.5 Investment Income -- 9.1.6 Insurance Premium Tax -- 9.2 Insurance Fraud -- 9.3 The Insurance Cycle -- 10 Reserving: First Principles -- 10.1 Principles of Reserving -- 10.2 Types of Claim Data -- 10.3 Using Patterns in Data -- 10.4 Injury Claims and PPOs -- 11 Reserving: Methods -- 11.1 Chain Ladder Method -- 11.2 Expected Loss Ratio method -- 11.3 The Bornhuetter-Ferguson Method -- 11.4 Alternative Reserving Methods -- 11.4.1 The ACPC Method</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">11.4.2 Curve Fitting -- 11.4.3 Stochastic Methods -- 11.4.4 Machine Learning -- 12 In Case of Emergency: Capital Requirements -- 12.1 That's Capital! -- 12.2 How Much Capital Should be Held? -- 12.3 Solvency -- 12.4 Solvency II -- 12.4.1 What is Solvency II? -- 12.4.2 How Much is the Capital Requirement Under Solvency II? -- 12.4.3 What Kinds of Assets are Allowed Under Solvency II? -- 12.5 Capital Calculation Methods -- 12.5.1 Risk Measures -- 12.5.2 Risk Allocation Methods -- 12.6 Inadequate Capital: A Warning from History -- 12.6.1 Transit: 'The Titanic of Insurance Insolvencies' -- 13 Reinsurance -- 13.1 A Problem Shared: An Introduction to Reinsurance -- 13.1.1 Proportional Reinsurance -- 13.1.2 Excess of Loss Reinsurance (XL) -- 13.2 The LMX Spiral -- 13.3 Reinsurance to Close -- 13.4 Sharing Risk Outside of Insurance -- 13.4.1 Risk Transfer to the Financial Sector -- 13.4.2 Transferring Risk to the Public Sector -- 13.4.2.1 Case Study: Flood Re -- 13.4.2.2 Other Public Sector Flood Insurance Models -- 14 Catastrophes -- 14.1 Modeling Natural Catastrophes -- 14.2 Lessons from Hurricane Katrina -- 14.2.1 Lesson 1: Run for Cover -- 14.2.2 Lesson 2: Count the Seconds -- 14.2.3 Lesson 3: Take a Break (into Consideration) -- 14.2.4 Lesson 4: Social Good, but Profit Better -- 14.2.5 Lesson 5: It Never Rains but It Pours -- 14.3 Promising the World - the Challenge and Benefits of the Globalization of Insurance -- 14.4 A Micro Introduction to Microinsurance -- 14.5 Cyber Insurance -- 15 Climate Change and Biodiversity Loss -- 15.1 Climate Change -- 15.2 From A(ctuary) to Z(oonotic) -- 15.2.1 Underwriting Exclusions -- 15.2.2 Creating a Biodiversity Loss Metric -- 15.2.3 Calculating the Value of Biodiversity to Insurers -- 16 Latent Claims: A Problem for Another Day -- 16.1 An Introduction to... (Wait for It) .... Latent Claims</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">16.2 Asbestos: The Wonder Fabric with a Dark Secret -- 16.3 The Blame Game: Insurance and the Law -- 16.4 Environmental Claims -- 17 Modeling Coronavirus-19 -- 17.1 Modeling in a Crisis -- 17.2 Modeling Coronavirus-19 Spread -- 17.3 Re-modeling (and Re-modeling and Re-modeling) Coronavirus Spread -- 17.4 Covid Corollaries: The Effect of the Pandemic on Insurance and Pensions -- 18 Careers in Actuarial Science -- 18.1 What Do You Need to Be an Actuary? -- 18.2 Professional Qualifications -- 18.2.1 IFoA Exams-The Detail -- 18.2.2 SOA and CAS Exams-The Detail -- 18.3 Exam FAQs -- 18.4 Professional Development -- 18.5 The International Market for Actuarial Science -- 18.6 A Day in the Life of an Actuarial Analyst -- 18.6.1 A Day in the Life of a Pricing Analyst -- 18.6.2 A Day in the Life of a Reserving Analyst -- 18.7 Final Remarks on Actuarial Careers -- 19 Looking Forward: The Future of Actuarial Work -- 19.1 It's The End of The World as We Know it-And We'll Be Fine -- Appendices -- Appendix A: Table of Compound Interest, for 3% and 5% Effective Interest Per Annum -- Appendix B: Life Tables for UK Male and Female Lives -- Appendix C: Net Present Value of Life-Dependent Annuities for 3% and 5% Interest Rates -- Glossary -- Index</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Actuarial science</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe</subfield><subfield code="a">Townsend, Catrin</subfield><subfield code="t">A Risky Business</subfield><subfield code="d">Cham : Springer International Publishing AG,c2022</subfield><subfield code="z">9783031116728</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-30-PQE</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-034735718</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://ebookcentral.proquest.com/lib/hwr/detail.action?docID=7102025</subfield><subfield code="l">HWR01</subfield><subfield code="p">ZDB-30-PQE</subfield><subfield code="q">HWR_PDA_PQE</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV049408634 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T23:05:37Z |
| indexdate | 2024-07-10T10:06:17Z |
| institution | BVB |
| isbn | 9783031116735 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034735718 |
| oclc_num | 1375294703 |
| open_access_boolean | |
| owner | DE-2070s |
| owner_facet | DE-2070s |
| physical | 1 Online-Ressource (415 Seiten) |
| psigel | ZDB-30-PQE ZDB-30-PQE HWR_PDA_PQE |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | Springer International Publishing AG |
| record_format | marc |
| spelling | Townsend, Catrin Verfasser aut A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society 1st ed Cham Springer International Publishing AG 2022 ©2022 1 Online-Ressource (415 Seiten) txt rdacontent c rdamedia cr rdacarrier Description based on publisher supplied metadata and other sources Intro -- Preface -- Acknowledgments -- The Non-actuaries -- The Actuaries -- The Future Actuaries -- Contents -- List of Figures -- List of Tables -- 1 Introduction -- 1.1 Introduction to Risk -- 1.2 There's No Business Like... -- 1.3 Can I Insure That? -- 1.4 Risk by Numbers -- 1.4.1 Risk Metrics -- 1.4.2 Success Metrics -- 2 A Short History of Actuarial Work -- 2.1 I'll Be There For You: The Beginning of Lloyd's -- 2.2 Pooling -- 2.3 San Francisco and Uberrima Fides -- 2.4 Lloyd's as a Marketplace -- 2.5 The Role of Actuarial Institutes Around the World -- 3 Products and Perils -- 3.1 What Could Possibly Go Wrong? -- 3.1.1 Property Damage -- 3.1.2 Liability -- 3.1.3 Financial Loss -- 3.1.4 Fixed Benefit -- 3.2 Boats, Buildings, and Beckham: An Introduction to Types of Insurance -- 3.2.1 Motor Insurance -- 3.2.2 Property Insurance -- 3.2.3 Business Insurance -- 3.2.4 Bespoke Financial Loss Policies -- 3.3 New Products, New Possibilities, New Problems -- 3.3.1 Environmental, Social, and Governance Sustainability in Insurance and Pensions -- 3.4 Case Study: Drone Insurance -- 4 Data -- 4.1 More Is More: Data for Beginners -- 4.1.1 More data gives more certainty -- 4.2 Data Is (a Bit Like) the New Oil -- 4.3 Exposure Data -- 4.4 The Importance of Being Earnest (and Honest): GDPR and Ethics in Actuarial Work -- 4.4.1 Who Cares About GDPR? -- 4.4.2 What Are the Broad Aims of GDPR? -- 4.4.3 What Are the New Consumer Rights? -- 4.4.4 What Does GDPR Mean for Actuaries? -- 4.4.5 Price-Walking -- 4.4.6 Discriminatory Data -- 4.4.7 Environmental, Social, and Governance (ESG) and Sustainable Investment -- 4.5 The Future of Data: Insurtech and AI -- 4.5.1 Telematics -- 4.5.2 Smart Appliances and Wearable Tech -- 4.5.3 Machine Learning -- 5 Annuities -- 5.1 Interested in Interest? -- 5.2 Introduction to Annuities -- 5.3 Variations on Annuities 5.3.1 Annuities Paid Monthly -- 5.3.2 Deferred Annuities -- 5.3.3 Increasing Annuities -- 5.3.4 Perpetuities -- 5.4 IOU: Calculating Loan Repayments -- 5.5 Worked Example -- 6 Life-Dependent Products: Your Money or Your Life -- 6.1 When Will They Die? (And Other Morbid Questions) -- 6.2 What Life Tables Tell Us About Life -- 6.3 Calculations with Life Tables -- 6.4 Life-Dependent Annuities -- 6.5 Variation in Mortality Rates -- 6.5.1 Occupation -- 6.5.2 Smoking -- 6.5.3 Income-Related Risk Factors -- 6.5.4 Genetics -- 6.5.5 Selection Bias -- 6.6 Joint Life Annuities -- 6.7 Reversionary Annuities -- 7 Pensions: Who Pays? -- 7.1 A Short History of Pensions -- 7.2 Defining Defined Benefit Schemes -- 7.3 The DB Disappearance -- 7.4 The Fundamentals of Funding -- 7.4.1 Regular Contribution -- 7.4.2 Terminal Funding -- 7.4.3 Pay As You Go -- 7.5 Social Care -- 8 Pricing: The Science of Estimating the Risk Cost -- 8.1 Why Estimate the Risk Cost? -- 8.2 Getting to Know (People Like) You -- 8.3 Anti-Selection -- 8.4 An Introduction to Generalized Linear Models for Insurance Pricing -- 8.5 Worked Example: Pricing Pet Insurance -- 8.6 Pricing for Large Risks -- 9 Pricing: The Art of Estimating Everything Else -- 9.1 Types of Non-risk Costs -- 9.1.1 Wages, Rent, and Other Operating Expenses -- 9.1.2 Insurance and Reinsurance -- 9.1.3 Commission and Acquisition Expenses -- 9.1.4 Profit Loading -- 9.1.5 Investment Income -- 9.1.6 Insurance Premium Tax -- 9.2 Insurance Fraud -- 9.3 The Insurance Cycle -- 10 Reserving: First Principles -- 10.1 Principles of Reserving -- 10.2 Types of Claim Data -- 10.3 Using Patterns in Data -- 10.4 Injury Claims and PPOs -- 11 Reserving: Methods -- 11.1 Chain Ladder Method -- 11.2 Expected Loss Ratio method -- 11.3 The Bornhuetter-Ferguson Method -- 11.4 Alternative Reserving Methods -- 11.4.1 The ACPC Method 11.4.2 Curve Fitting -- 11.4.3 Stochastic Methods -- 11.4.4 Machine Learning -- 12 In Case of Emergency: Capital Requirements -- 12.1 That's Capital! -- 12.2 How Much Capital Should be Held? -- 12.3 Solvency -- 12.4 Solvency II -- 12.4.1 What is Solvency II? -- 12.4.2 How Much is the Capital Requirement Under Solvency II? -- 12.4.3 What Kinds of Assets are Allowed Under Solvency II? -- 12.5 Capital Calculation Methods -- 12.5.1 Risk Measures -- 12.5.2 Risk Allocation Methods -- 12.6 Inadequate Capital: A Warning from History -- 12.6.1 Transit: 'The Titanic of Insurance Insolvencies' -- 13 Reinsurance -- 13.1 A Problem Shared: An Introduction to Reinsurance -- 13.1.1 Proportional Reinsurance -- 13.1.2 Excess of Loss Reinsurance (XL) -- 13.2 The LMX Spiral -- 13.3 Reinsurance to Close -- 13.4 Sharing Risk Outside of Insurance -- 13.4.1 Risk Transfer to the Financial Sector -- 13.4.2 Transferring Risk to the Public Sector -- 13.4.2.1 Case Study: Flood Re -- 13.4.2.2 Other Public Sector Flood Insurance Models -- 14 Catastrophes -- 14.1 Modeling Natural Catastrophes -- 14.2 Lessons from Hurricane Katrina -- 14.2.1 Lesson 1: Run for Cover -- 14.2.2 Lesson 2: Count the Seconds -- 14.2.3 Lesson 3: Take a Break (into Consideration) -- 14.2.4 Lesson 4: Social Good, but Profit Better -- 14.2.5 Lesson 5: It Never Rains but It Pours -- 14.3 Promising the World - the Challenge and Benefits of the Globalization of Insurance -- 14.4 A Micro Introduction to Microinsurance -- 14.5 Cyber Insurance -- 15 Climate Change and Biodiversity Loss -- 15.1 Climate Change -- 15.2 From A(ctuary) to Z(oonotic) -- 15.2.1 Underwriting Exclusions -- 15.2.2 Creating a Biodiversity Loss Metric -- 15.2.3 Calculating the Value of Biodiversity to Insurers -- 16 Latent Claims: A Problem for Another Day -- 16.1 An Introduction to... (Wait for It) .... Latent Claims 16.2 Asbestos: The Wonder Fabric with a Dark Secret -- 16.3 The Blame Game: Insurance and the Law -- 16.4 Environmental Claims -- 17 Modeling Coronavirus-19 -- 17.1 Modeling in a Crisis -- 17.2 Modeling Coronavirus-19 Spread -- 17.3 Re-modeling (and Re-modeling and Re-modeling) Coronavirus Spread -- 17.4 Covid Corollaries: The Effect of the Pandemic on Insurance and Pensions -- 18 Careers in Actuarial Science -- 18.1 What Do You Need to Be an Actuary? -- 18.2 Professional Qualifications -- 18.2.1 IFoA Exams-The Detail -- 18.2.2 SOA and CAS Exams-The Detail -- 18.3 Exam FAQs -- 18.4 Professional Development -- 18.5 The International Market for Actuarial Science -- 18.6 A Day in the Life of an Actuarial Analyst -- 18.6.1 A Day in the Life of a Pricing Analyst -- 18.6.2 A Day in the Life of a Reserving Analyst -- 18.7 Final Remarks on Actuarial Careers -- 19 Looking Forward: The Future of Actuarial Work -- 19.1 It's The End of The World as We Know it-And We'll Be Fine -- Appendices -- Appendix A: Table of Compound Interest, for 3% and 5% Effective Interest Per Annum -- Appendix B: Life Tables for UK Male and Female Lives -- Appendix C: Net Present Value of Life-Dependent Annuities for 3% and 5% Interest Rates -- Glossary -- Index Actuarial science Erscheint auch als Druck-Ausgabe Townsend, Catrin A Risky Business Cham : Springer International Publishing AG,c2022 9783031116728 |
| spellingShingle | Townsend, Catrin A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society Intro -- Preface -- Acknowledgments -- The Non-actuaries -- The Actuaries -- The Future Actuaries -- Contents -- List of Figures -- List of Tables -- 1 Introduction -- 1.1 Introduction to Risk -- 1.2 There's No Business Like... -- 1.3 Can I Insure That? -- 1.4 Risk by Numbers -- 1.4.1 Risk Metrics -- 1.4.2 Success Metrics -- 2 A Short History of Actuarial Work -- 2.1 I'll Be There For You: The Beginning of Lloyd's -- 2.2 Pooling -- 2.3 San Francisco and Uberrima Fides -- 2.4 Lloyd's as a Marketplace -- 2.5 The Role of Actuarial Institutes Around the World -- 3 Products and Perils -- 3.1 What Could Possibly Go Wrong? -- 3.1.1 Property Damage -- 3.1.2 Liability -- 3.1.3 Financial Loss -- 3.1.4 Fixed Benefit -- 3.2 Boats, Buildings, and Beckham: An Introduction to Types of Insurance -- 3.2.1 Motor Insurance -- 3.2.2 Property Insurance -- 3.2.3 Business Insurance -- 3.2.4 Bespoke Financial Loss Policies -- 3.3 New Products, New Possibilities, New Problems -- 3.3.1 Environmental, Social, and Governance Sustainability in Insurance and Pensions -- 3.4 Case Study: Drone Insurance -- 4 Data -- 4.1 More Is More: Data for Beginners -- 4.1.1 More data gives more certainty -- 4.2 Data Is (a Bit Like) the New Oil -- 4.3 Exposure Data -- 4.4 The Importance of Being Earnest (and Honest): GDPR and Ethics in Actuarial Work -- 4.4.1 Who Cares About GDPR? -- 4.4.2 What Are the Broad Aims of GDPR? -- 4.4.3 What Are the New Consumer Rights? -- 4.4.4 What Does GDPR Mean for Actuaries? -- 4.4.5 Price-Walking -- 4.4.6 Discriminatory Data -- 4.4.7 Environmental, Social, and Governance (ESG) and Sustainable Investment -- 4.5 The Future of Data: Insurtech and AI -- 4.5.1 Telematics -- 4.5.2 Smart Appliances and Wearable Tech -- 4.5.3 Machine Learning -- 5 Annuities -- 5.1 Interested in Interest? -- 5.2 Introduction to Annuities -- 5.3 Variations on Annuities 5.3.1 Annuities Paid Monthly -- 5.3.2 Deferred Annuities -- 5.3.3 Increasing Annuities -- 5.3.4 Perpetuities -- 5.4 IOU: Calculating Loan Repayments -- 5.5 Worked Example -- 6 Life-Dependent Products: Your Money or Your Life -- 6.1 When Will They Die? (And Other Morbid Questions) -- 6.2 What Life Tables Tell Us About Life -- 6.3 Calculations with Life Tables -- 6.4 Life-Dependent Annuities -- 6.5 Variation in Mortality Rates -- 6.5.1 Occupation -- 6.5.2 Smoking -- 6.5.3 Income-Related Risk Factors -- 6.5.4 Genetics -- 6.5.5 Selection Bias -- 6.6 Joint Life Annuities -- 6.7 Reversionary Annuities -- 7 Pensions: Who Pays? -- 7.1 A Short History of Pensions -- 7.2 Defining Defined Benefit Schemes -- 7.3 The DB Disappearance -- 7.4 The Fundamentals of Funding -- 7.4.1 Regular Contribution -- 7.4.2 Terminal Funding -- 7.4.3 Pay As You Go -- 7.5 Social Care -- 8 Pricing: The Science of Estimating the Risk Cost -- 8.1 Why Estimate the Risk Cost? -- 8.2 Getting to Know (People Like) You -- 8.3 Anti-Selection -- 8.4 An Introduction to Generalized Linear Models for Insurance Pricing -- 8.5 Worked Example: Pricing Pet Insurance -- 8.6 Pricing for Large Risks -- 9 Pricing: The Art of Estimating Everything Else -- 9.1 Types of Non-risk Costs -- 9.1.1 Wages, Rent, and Other Operating Expenses -- 9.1.2 Insurance and Reinsurance -- 9.1.3 Commission and Acquisition Expenses -- 9.1.4 Profit Loading -- 9.1.5 Investment Income -- 9.1.6 Insurance Premium Tax -- 9.2 Insurance Fraud -- 9.3 The Insurance Cycle -- 10 Reserving: First Principles -- 10.1 Principles of Reserving -- 10.2 Types of Claim Data -- 10.3 Using Patterns in Data -- 10.4 Injury Claims and PPOs -- 11 Reserving: Methods -- 11.1 Chain Ladder Method -- 11.2 Expected Loss Ratio method -- 11.3 The Bornhuetter-Ferguson Method -- 11.4 Alternative Reserving Methods -- 11.4.1 The ACPC Method 11.4.2 Curve Fitting -- 11.4.3 Stochastic Methods -- 11.4.4 Machine Learning -- 12 In Case of Emergency: Capital Requirements -- 12.1 That's Capital! -- 12.2 How Much Capital Should be Held? -- 12.3 Solvency -- 12.4 Solvency II -- 12.4.1 What is Solvency II? -- 12.4.2 How Much is the Capital Requirement Under Solvency II? -- 12.4.3 What Kinds of Assets are Allowed Under Solvency II? -- 12.5 Capital Calculation Methods -- 12.5.1 Risk Measures -- 12.5.2 Risk Allocation Methods -- 12.6 Inadequate Capital: A Warning from History -- 12.6.1 Transit: 'The Titanic of Insurance Insolvencies' -- 13 Reinsurance -- 13.1 A Problem Shared: An Introduction to Reinsurance -- 13.1.1 Proportional Reinsurance -- 13.1.2 Excess of Loss Reinsurance (XL) -- 13.2 The LMX Spiral -- 13.3 Reinsurance to Close -- 13.4 Sharing Risk Outside of Insurance -- 13.4.1 Risk Transfer to the Financial Sector -- 13.4.2 Transferring Risk to the Public Sector -- 13.4.2.1 Case Study: Flood Re -- 13.4.2.2 Other Public Sector Flood Insurance Models -- 14 Catastrophes -- 14.1 Modeling Natural Catastrophes -- 14.2 Lessons from Hurricane Katrina -- 14.2.1 Lesson 1: Run for Cover -- 14.2.2 Lesson 2: Count the Seconds -- 14.2.3 Lesson 3: Take a Break (into Consideration) -- 14.2.4 Lesson 4: Social Good, but Profit Better -- 14.2.5 Lesson 5: It Never Rains but It Pours -- 14.3 Promising the World - the Challenge and Benefits of the Globalization of Insurance -- 14.4 A Micro Introduction to Microinsurance -- 14.5 Cyber Insurance -- 15 Climate Change and Biodiversity Loss -- 15.1 Climate Change -- 15.2 From A(ctuary) to Z(oonotic) -- 15.2.1 Underwriting Exclusions -- 15.2.2 Creating a Biodiversity Loss Metric -- 15.2.3 Calculating the Value of Biodiversity to Insurers -- 16 Latent Claims: A Problem for Another Day -- 16.1 An Introduction to... (Wait for It) .... Latent Claims 16.2 Asbestos: The Wonder Fabric with a Dark Secret -- 16.3 The Blame Game: Insurance and the Law -- 16.4 Environmental Claims -- 17 Modeling Coronavirus-19 -- 17.1 Modeling in a Crisis -- 17.2 Modeling Coronavirus-19 Spread -- 17.3 Re-modeling (and Re-modeling and Re-modeling) Coronavirus Spread -- 17.4 Covid Corollaries: The Effect of the Pandemic on Insurance and Pensions -- 18 Careers in Actuarial Science -- 18.1 What Do You Need to Be an Actuary? -- 18.2 Professional Qualifications -- 18.2.1 IFoA Exams-The Detail -- 18.2.2 SOA and CAS Exams-The Detail -- 18.3 Exam FAQs -- 18.4 Professional Development -- 18.5 The International Market for Actuarial Science -- 18.6 A Day in the Life of an Actuarial Analyst -- 18.6.1 A Day in the Life of a Pricing Analyst -- 18.6.2 A Day in the Life of a Reserving Analyst -- 18.7 Final Remarks on Actuarial Careers -- 19 Looking Forward: The Future of Actuarial Work -- 19.1 It's The End of The World as We Know it-And We'll Be Fine -- Appendices -- Appendix A: Table of Compound Interest, for 3% and 5% Effective Interest Per Annum -- Appendix B: Life Tables for UK Male and Female Lives -- Appendix C: Net Present Value of Life-Dependent Annuities for 3% and 5% Interest Rates -- Glossary -- Index Actuarial science |
| title | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_auth | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_exact_search | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_exact_search_txtP | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_full | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_fullStr | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_full_unstemmed | A Risky Business An Actuary's Guide to Quantifying and Managing Risk in Society |
| title_short | A Risky Business |
| title_sort | a risky business an actuary s guide to quantifying and managing risk in society |
| title_sub | An Actuary's Guide to Quantifying and Managing Risk in Society |
| topic | Actuarial science |
| topic_facet | Actuarial science |
| work_keys_str_mv | AT townsendcatrin ariskybusinessanactuarysguidetoquantifyingandmanagingriskinsociety |