Modeling Policyholder Behavior through Insurance Resonant Marts for Pricing Options and Guarantees

作     者：S. Jayaprakash Michael Ha 

作者机构：Co Founder Nanobi Data and Analytics Private Ltd. Bangalore India Director of MSc. Financial Mathematics Programme Xi’an Jiaotong-Liverpool University Suzhou China 

出 版 物：《World Journal of Engineering and Technology》 (世界工程和技术（英文）)

年 卷 期：2015年第3卷第3期

页      面：227-233页

学科分类：1002[医学-临床医学] 100214[医学-肿瘤学] 10[医学] 

主　　题：Insurance Investment Policyholders Options Guarantees Data Resonant 

摘      要：Background: The 11th Annual Conference of Asia-Pacific Risk and Insurance Association was held on July 22-25, 2007 in Taipei, Taiwan. The first author participated in this annual conference where he met the second author who was invited to deliver two plenary speeches on Corporate Governance and Financial Institution Regulation [1] and Alternative Investments for Financial Institutions [2]. The first author was then working as consultant with i-flex solutions, a subsidiary of Oracle and the second author was Vice President of Strategic Business Initiatives Units at ING Life Insurance in its Taiwan operation. The two authors decided to start collaborating on a research paper titled “Modeling Policyholder Behavior through Insurance Resonant Marts for Pricing Options and Guarantees. The first version of the paper was submitted for research purposes to ING Insurance Risk Management Global Conference 2007 [3] which was held in Beijing, China. Although it was neither presented nor published, the working draft was constantly updated and revised. In 2015, after eight years of continuous research collaboration, the two authors decided to submit the final version of the paper to the 5th World Congress on Engineering and Technology for scholarly presentation. Aim: The competition in the insurance industry is extremely fierce. Insurance companies are under tremendous pressure to retain and increase their customer base, to offer services at attractive rates and provide returns competitive with mutual funds, equities and banks, to achieve profitability across various lines of insurance, to comply with statutory norms etc. Despite having the best of breeds, such as accountants, actuaries [4], lawyers, underwriters, IT experts, consultants, etc., many insurance companies face severe problems to cope with and survive under such pressures. Insurance companies are now striving towards creating innovative products that can match the expectation of the customers with respect to investm