Description: The Indian market holds tremendous potential for insurance products, especially in segments that remain untapped. The market is evolving in terms of market penetration, product innovation, regulatory changes, government initiatives, capital adequacy and customer experience. In this report, we have highlighted insurance trends in India based on insights gathered from practitioners' interviews, available research and literature, with a particular focus on the enterprise risk management (ERM) function of insurance companies.

Description: Sponsored by the Society of Actuaries Research Expanding Boundaries Pool, this report examines an encompassing method to allocating economic capital in insurance conglomerates. Authored by Edward Furman, Yisub Kye, and Jianxi Su, the plan put forth unifies the centralized top-down and the detail-oriented bottom-up approaches

Description: Because of the growing significance of Enterprise Risk Management, it is critical to consider how ERM responds and relates to circumstances and conditions. In particular, one megatrend currently impacting our world and our understanding of the economy is the emergence of a behavioral economics perspective. This paper describes the nature of behavioral economics, and considers the potential impact of such a perspective on ERM. From Actuarial Research Clearing House, 2012, Vol. 1.

Description: This paper provides a background about the beverage industry in Nigeria.It then identifies the risks faced by this industry, describes the current risk management process, and makes recommendations for changes.

Description: This is report summarizes the results of a Joint Risk Management Section sponsored study on negative interest rates and the insurance industry.

Description: This report discusses management decision making practices and the need for actuaries to build the appropriate level of variability for management actions in stochastic models to achieve a more realistic range of future experience among the stochastic scenarios.

Description: Sometimes, rare things happen and the least expected occurs. Indeed, some events occur once or twice in a lifetime leaving little room to learn from experiences. In financial markets, extreme events, no matter how rare, could have a profound impact on a company or even the whole country. Insurers are also not free from the impact of catastrophic large-scale extreme events. As a result, with pervasive economic and financial revolutions sweeping our world and potential devastative catastrophes, the increasing interest in tail risk management is fuelled by practical issues, including investment downside risk and insurance catastrophe risk. Thus, developing statistical techniques to model extreme investment and insurance losses is certainly a major task for risk managers. the purpose of our paper is to apply moment methods to estimate the joint events such as concurrent extreme investment loss and insurance loss. A novel aspect of this article is that it takes into account the correlation between different assets and insurance lines of business.

Description: This report focuses on the risks of change in the insurance industry and adapting to the "New" New Normal. It includes survey results, analysis, and discussions on various risks affecting the industry in the current environment.

Description: Sponsored by the Society of Actuaries Research Expanding Boundaries Pool, this report examines an encompassing method to allocating economic capital in insurance conglomerates. Authored by Edward Furman, Yisub Kye, and Jianxi Su, the plan put forth unifies the centralized top-down and the detail-oriented bottom-up approaches

Description: Scenario generators used in financial models to quantify risk are sometimes described as being as either “real-world” or “risk-neutral”. The difference is in the treatment of the market price of risk. This report explores the relationship between real-world and risk-neutral scenarios and when it is appropriate to use each type.