- Contains simple mathematics in a crisp presentation
- Provides a self-contained introduction to Enterprise Risk Management
- Gives plenty of numerical examples in life insurance and life annuity business
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- About this Textbook
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This book deals with Enterprise Risk Management (ERM) and, in particular, Quantitative Risk Management (QRM) in life insurance business. Constituting a “bridge” between traditional actuarial mathematics and insurance risk management processes, its purpose is to provide advanced undergraduate and graduate students in the Actuarial Sciences, Finance and Economics with the basics of ERM (in general) and QRM applied to life insurance business. The main topics dealt with are: general issues on ERM, risk management tools for life insurance and life annuities, deterministic and stochastic analysis of the behaviour of a portfolio fund, application of sensitivity testing to assess ranges of results of interest, stress testing to assess the impact of extreme scenarios, and the product development process for life annuity products.
- About the authors
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Ermanno Pitacco is the academic director of the Master in Insurance and Risk Management at the MIB Trieste School of Management, and professor of Actuarial mathematics and Life insurance technique at the University of Trieste.
He has been visiting professor at various universities (recently the Universities of Louvain-La-Neuve; New South Wales, Sydney; Ljubljana; Zagreb; and Kyoto). His main fields of scientific interest are life and health insurance mathematics and techniques, pension mathematics, longevity risk, and portfolio valuations.
He is the author/coauthor of numerous textbooks and papers in a wide range of insurance and actuarial fields.
- Table of contents (9 chapters)
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Introduction
Pages 1-3
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Enterprise Risk Management (ERM) and Quantitative Risk Management (QRM)
Pages 5-11
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The Risk Management (RM) Process
Pages 13-30
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RM for Life Insurance and Life Annuities
Pages 31-99
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Product Design: Guarantees and Options
Pages 101-129
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Table of contents (9 chapters)
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Bibliographic Information
- Bibliographic Information
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- Book Title
- ERM and QRM in Life Insurance
- Book Subtitle
- An Actuarial Primer
- Authors
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- Ermanno Pitacco
- Series Title
- Springer Actuarial Lecture Notes
- Copyright
- 2020
- Publisher
- Springer International Publishing
- Copyright Holder
- Springer Nature Switzerland AG
- eBook ISBN
- 978-3-030-49852-8
- DOI
- 10.1007/978-3-030-49852-8
- Softcover ISBN
- 978-3-030-49851-1
- Series ISSN
- 2523-3289
- Edition Number
- 1
- Number of Pages
- XIII, 228
- Number of Illustrations
- 60 b/w illustrations, 84 illustrations in colour
- Topics
