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Books > Business & Economics > Finance & accounting > Finance > Insurance
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Insurance Planning Models: Price Competition And Regulation Of Financial Stability (Hardcover)
Loot Price: R3,073
Discovery Miles 30 730
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Insurance Planning Models: Price Competition And Regulation Of Financial Stability (Hardcover)
Series: Advances In Statistics, Probability And Actuarial Science, 2
Expected to ship within 10 - 15 working days
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Insurance Planning Models: Price Competition and Regulation of
Financial Stability is an exciting new book that takes readers
inside the secrets of internal organization of the modern general
insurance business. Many people know that it is subject to
intensive state regulation, whereby the purpose is to maintain
long-term efficiency, honesty, security and stability in the
interest and for the protection of policyholders. However, except
for knowing that the insurance system is regulated by intensive
calculations, that the insurance companies have different positions
on the market, that they pursue different goals and even compete
with each other, and that one of the tools of this competition is
the policy price, not so many people know how to achieve these
deserving goals.In developing quantitative recommendations and
directives to competing insurers, regulators rely on certain
models. In the 1900s, such models were proposed. They were useful
for an insight into the probabilistic nature of the insurance
process, but not for direct application to practically meaningful
problems of insurance regulation. This book is your guide to the
rigorously constructed long-term dynamic models with the aim to
improve regulatory methods and develop quantitative recommendations
using both analytical calculations and computer simulation. It is
addressed to a wide range of readers, including interested
policyholders, economists whose interest lies in insurance
management and regulation, and mathematicians wishing to expand the
scope of application for their knowledge.This book is devoted to
certain issues that are either not sufficiently presented, or even
absent in the literature. It is an attempt to penetrate from the
standpoint of mathematical modeling into the goals which face
insurance regulators and contending company managers for preventing
insolvencies, or even crises pertinent to badly regulated complex
reflexive systems.It offers rigorous probabilistic models of
long-term insurance business based on the laws of mass phenomena.
They mitigate deficiencies of oversimplified risk models. The book
presents advances in probabilistic techniques designed to seek
quantitative, rather than qualitative, directives and
recommendations regarding safe control aiming to achieve different
business goals.
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