Description: View information about the 2019.1 Actuarial Research Conference Proceedings.

Description: This paper analyzes climate change's impact on corn yield and insurance claims in Southern Minnesota through an analysis of how temperature and precipitation are expected to change over the next 30 years.

Description: The Proof-of-Stake (PoS) consensus from blockchain technology has recently gained significant attention due to its advantages in energy efficiency, decentralize on, and scalability. While PoS validators stake to validate transactions and resolve disputes, the same mechanism has been introduced to decentralized insurance for risk and claim assessment purposes. Although stakers have a financial incentive to act honestly because they have staked their own funds as collateral, the existing pricing mechanisms in decentralized insurance networks do not adequately account for the underlying riskiness, resulting in consistent losses for the business. In this paper, we explore a new on-chain pricing model that takes both the market demand and staking capacity into consideration. While it mitigates the underpricing problem, the new mechanism relies solely on staking pool managers’ experti􀆟se to uncover riskiness and may cause unintended managerial behaviors related to capacity management and competition.

Description: Abstracts from all presentations at the 41st Actuarial Research Conference.

Description: In December 1997, the Society of Actuaries held a conference whose focus was actuarial and financial modeling. During the course of that conference, one of the speakers mentioned a number of technologies his firm was using for modeling, which were either unfamiliar or only vaguely familiar to some of the audience. The purpose of this paper is to define each of the technologies mentioned during that presentation and to briefly describe their distinguishing characteristics. The technologies discussed in this paper are statistical pattern recognition [SPR], neural networks [NNs], genetic algorithms [GAs], simulated annealing, fractal analysis, chaos theory, rule induction, data fusion algorithms [DFAs], data compression, fuzzy logic, case-based reasoning, and expert systems.