Insurance and Financial Risk Management
New papers in insurance and financial risk management, the code and data they release, and the open problems their authors admit. Rebuilt every day from OpenAlex and arXiv.
New papers
Reinsurance Governance, Insurer Risk-Taking, and Financial Sustainability in Emerging Asian Insurance Markets
A resilient and financially sustainable insurance sector is a cornerstone of sustainable economic development, climate risk adaptation, and socio-economic stability (aligned with UN SDGs 8, 11, and 13).
Disaster Shocks, Forced Displacement and Banking Stability
This study examines how natural disaster severity and disaster-related internal displacement are associated with banking stability in an annual country panel covering 2008-2021.
Beyond Rainfall: A Conceptual Framework for Multi-Hazard Weather-Based Insurance Adoption Among Small-Scale Tobacco Farmers in Zimbabwe
Smallholder tobacco farmers in Mashonaland West Province, Zimbabwe, face increasing exposure to multihazard climate catastrophes, including drought, excessive rainfall, hail, and windstorms.
Using artificial intelligence in insurance: ZhongAn Company as a case study
Application of artificial intelligence technologies in the operations of the Chinese internet insurance company ZhongAn – the first professional online insurer in China. Objectives.
Analysis of Determinant Factors in the Provision of Group Health Insurance by Employers in the Context of National Health Insurance Implementation in Indonesia
Indonesia’s National Health Insurance (Jaminan Kesehatan Nasional or JKN) is a mandatory social health insurance program aimed at achieving universal health coverage in Indonesia.
Determinants of Enrollment in Storm, Flood, and Earthquake Insurance by Product Type: Focus on Fixed-Effects Models
This study analyzed the effects of paid claims, government subsidy rates, and disaster relief grants, among other factors, on enrollment in Storm, Flood, and Earthquake Insurance by product type.
An Application of Geometric Riemannian Pricing Algorithm for Valuing Catastrophe Bonds in Incomplete Markets: Market-Consistent Financial Entropy and the Split of Frequency and Severity Risk Premia
This paper presents a framework for pricing catastrophe (CAT) bonds in incomplete markets through Riemannian geometric optimization of financial entropy.
Protestantism and insurance—an elective affinity? A multilevel comparative-historical analysis of the confessional insurance gap
Abstract While there are many studies and theories about the rise of social insurance and the public welfare state, the prior emergence and growth of private life and nonlife insurance are largely understudied, mostly due to a lack of data.
HDFC ERGO: A Product Ecosystem Built on Mindshare
Anuj Tyagi, Joint Managing Director of HDFC ERGO, is facing the challenge of transcending the traditional limitations of insurance interactions and establishing a significant presence in customers’ minds beyond annual transactions.
ANALYSIS OF FACTORS INFLUENCING THE PROBABILITY OF PURCHASING CARBON CREDIT INSURANCE BY COMPANIES LISTED ON THE STOCK EXCHANGE OF THAILAND
This study examines the financial and environmental factors associated with the probability that companies listed on the Stock Exchange of Thailand will purchase carbon credit insurance.
The Impact of Insurance Market Regulation on Companies' Financial Growth Prospects: The Case of Georgia
This paper examines the impact of regulations on the financial performance of Georgian insurance companies.
Health Insurance Awareness and Perception among Salaried Individuals in Pune City: A Socio-Demographic Analysis
This paper presents a socio-demographic analysis of health insurance awareness and perception among salaried individuals in Pune City, Maharashtra.
Care After Insurance
This essay describes the theoretical and doctrinal problems caused by viewing healthcare and medicine through the framework of risk-based insurance.
Hope Springs Eternal: Phantom Visions For Deregulated Health Insurance
Opponents of the Affordable Care Act (ACA) no longer seek explicitly to "repeal and replace" this widely popular law.
THE IMPACT OF FINANCIAL AND UNDERWRITING RISK MANAGEMENT EFFICIENCY ON THE FINANCIAL PERFORMANCE OF LISTED INSURANCE COMPANIES IN SAUDI ARABIA UNDER SOLVENCY REQUIREMENTS
This article aims to determine the level of financial and underwriting risk management of insurance companies in the Kingdom of Saudi Arabia.
The Value of Ignorance: Behavioral Preferences for Genetic Information and Insurance Market Equilibria
We study how behavioral heterogeneity in preferences for information acquisition affects equilibrium outcomes in health insurance markets.
Comments on “Drought Risk Mapping and Parametric Insurance in Agriculture: A Machine Learning-Based Framework” by Belhsen et al., (2026), Journal of Risk Analysis and Crisis Response, https://doi.org/10.54560/jracr.v16i2.726
Abstract: Accurate assessment of drought-related crop losses is essential for designing effective agricultural index insurance.
Understanding AI risk
This paper develops a structured framework for understanding AI risks arising from an insurance and risk-management perspective, with a particular focus on its distinction from cyber risk and the resulting implications for insurability.
Digital India Insurance: A Statutory Compensation Pool for Victims of Cyber-Financial Fraud, Modelled on Motor Third-Party Insurance
This working paper proposes Digital India Insurance, a statutory compensation pool for Indian citizens who lose money to cyber-financial fraud, including digital arrest scams, fake investment and trading apps, UPI and online banking fraud, and card fraud.
Equilibrium reinsurance and investment strategies under preference ambiguity
This paper studies an insurer's reinsurance and investment problem when the risk aversion coefficient is random, and the insurer exhibits preference ambiguity toward this uncertainty.
Released code and data
Forecasting Non-Life Insurance Premiums and Emerging Risk Factors in a Developing Market: Evidence from Albania, 2010–2026, with Projections to 2032
We construct a harmonized monthly dataset of gross written premiums and gross paid claims covering 2010 to mid-2026 from the statistical reports of the Albanian Financial Supervisory Authority, following a documented reconstruction protocol that other researchers can reproduce from the public reports.
Quantifying Portfolio Demutualization: A Benchmark-Relative Pooling--Profiling Scale
We propose a benchmark-relative pooling--profiling scale with two complementary coordinates.
Endowment variance scales the benefit twice in actuarialmath
Developer report sent before publication: https://github.com/terence-lim/actuarialmath/issues/6 .
ConstantForce whole-life insurance ignores the benefit amount
Maintainer report: https://github.com/terence-lim/actuarialmath/issues/4 The archive contains pinned upstream source, released wheel, independent oracle, raw results, candidate patch, mutation replay, duplicate-review scope, portable instructions and SHA-256 manifest.
pyliferisk geometric valuations discard supplied mortality assumptions
Correction: https://github.com/franciscogarate/pyliferisk/pull/17 (proposed, not merged).
Robust E-Bayesian Estimation and Prediction of Esscher Premium for Car Insurance Claim Frequencies Under a Negative Binomial Model
Overall, the proposed approach provides a robust and analytically tractable premium estimation framework for overdispersed car insurance claim-frequency data when prior information is uncertain and only aggregated data are available.
Risk Management of Variable Annuity Guarantees via Sobolev-Trained Neural Networks
The simulation engine (ActuaLib, C++17 with AAD), PyTorch training code, and full training/test datasets are released openly to make real-time, portfolio-level hedging analytics for variable annuities reproducible and practically achievable.
A Stacking Based Ensemble Framework for Health Insurance Premium Estimation in Bangladesh
lower cost by 50%, which plays a vital role in providing better insurance plans to individuals.The paper aims to help insurance companies streamline the process of predicting premium prices and thereby limit medical expenses.This study applies 16 different machine learning models to a new dataset of 300 rows and 24 columns to predict the price.After evaluating the machine learning algorithms
Matrix-based factor analysis on the prediction of insurance claims probability
Using a large-scale health insurance dataset from a leading life insurer in South Korea, we demonstrate that the proposed model outperforms conventional and machine-learning benchmarks, such as logistic regression and XGBoost, in predicting claim probabilities.
When Agent Automation Becomes Profitable: Quantifying and Insuring Autonomous AI Risk through Trace-Economic Underwriting
We release code, labels, and audit sheets.
Open problems authors admit
Effects of post-disaster subsidies on business recovery in Japan: A doubly robust estimation
Limitations include potential residual self-selection bias, reliance on a single post-disaster observation, the absence of information on interactions with other support measures, and the inability to distinguish approval effects from cash-disbursement effects.
Mechanism of anti-crisis financial management of an insurance company amidst cyberattacks and digital shocks
Future research could develop mathematical models to formalize early-warning indicators of a digital crisis using Artificial Intelligence and Big Data, and refine actuarial calculations to determine the optimal volume of the financial adaptation reserve.
Digital insurance revisited: Digital transformation in Sri Lanka’s life insurance industry, 2023–2025
It contributes longitudinal evidence from an emerging insurance market and offers implications for insurers, regulators and future research on the channel preferences of younger policyholders.
Evaluating the Predictive Value of Medical Underwriting Tests for Mortality Risk: Evidence From the Multi-Ethnic Study of Atherosclerosis
However, for insurers, considerations such as cohort characteristics, cost, and customer experience remain important and represent limitations of this study.
Adaptive Health Insurance Underwriting via Contextual Bandits: A Reinforcement Learning Approach for Cambodia
The thesis contributes a reproducible 20-seed experimental harness, a Cambodia-calibrated synthetic dataset, sliding-window PSI and EEOC four-fifths fairness monitoring, and a human-in-the-loop wrapper that may inform future research and industry practice in emerging-market algorithmic insurance.
All risks
8.1 All risks cargo insurance does not cover every untoward eventuality that may befall the cargo during its journey. “All risks” is a term of art subject to implied limitations that restrict the cover to loss of or damage to the cargo caused by a fortuitous external accident or casualty.
Insurance as commitment?
Our findings suggest that the commitment function of insurance contracts is not a major driver of insurance demand in our experimental setting, directing future research toward other settings in which it might be more important or toward alternative behavioral mechanisms.
From Vertical Integration to Sustainable Insurance Performance: A Capability-Translation Framework with Competing Value-Creation and Market-Power Pathways
The framework therefore explains why similar integration structures may produce sustainable value in some settings but financial-performance decoupling in others and offers testable propositions for future research.
Addressing Climate Risks Through Agricultural Takāful: An Institutional Perspective on Agrobank’s Paddy Crop Takaful Scheme In Malaysia
Future research should include interviews with farmers and quantitative assessments of scheme uptake and impact.
SUSTAINING THE TAKAFUL INDUSTRY IN MALAYSIA: CRITICAL FACTORS AND STRATEGIES
This paper aims to outline the future direction of Malaysia's takaful industry by highlighting several crucial aspects that takaful operators should focus on to ensure long-term sustainability.