129 résultats pour « insurance »

Cybersecurity in the Insurance Sector: How Digitalization is Changing the Risk Landscape

This study on the insurance sector’s digital transformation highlights a paradox: adopting technologies like cloud computing, AI, and IoT enhances efficiency but increases cybersecurity risks. A survey of 150 professionals and interviews with 15 executives show a strong correlation (r = .78, p < .01) between digital technology use and security incidents, with phishing (88%), cloud misconfigurations (45%), and IoT vulnerabilities (25%) prevalent. Traditional defenses score high (e.g., network perimeter: 4.1/5), but IoT and software supply chain security lag (2.4–2.7/5). Cyber insurance now uses dynamic risk assessments, with 90% of underwriters employing external security ratings and 75% applying surcharges for high-risk technologies.

An Analytical Review of Cyber Risk Management by Insurance Companies: A Mathematical Perspective

The provided text is an **academic article** that offers a comprehensive **analytical review of cyber risk management** within the insurance industry, focusing heavily on the **mathematical models** used for risk quantification and premium pricing. The review systematically covers the current state-of-the-art in cyber risk, discussing how dynamic and interconnected threats challenge traditional actuarial methods, necessitating the use of advanced quantitative tools like **stochastic models and copulas** to manage dependencies and calculate **Solvency Capital Requirements (SCR)**. It thoroughly details various **vulnerability functions** (including the well-known Gordon-Loeb model and its extensions) and different **premium calculation principles** (such as Expected Value and Mean-Variance), concluding that closer collaboration between different disciplines is essential for developing **robust cyber insurance and reinsurance solutions** in an increasingly digital landscape.

The randomly distorted Choquet integrals with respect to a G‑randomly distorted capacity and risk measures

This research addresses the critical challenge of model ambiguity in insurance, where the true probabilities of losses are uncertain. It introduces randomly distorted Choquet integrals, a novel mathematical tool for creating flexible and dynamic risk measures. This provides a formal, unified methodology to resolve expert disagreements by extending industry-standard metrics like Value at Risk (VaR) and Average Value at Risk (AVaR). The framework allows a decision-maker to synthesize divergent opinions—whether on key parameters like a VaR confidence level or on the fundamental risk model itself (e.g., VaR vs. AVaR)—into a single, coherent, and scenario-dependent assessment.

Higher moments under dependence uncertainty with applications in insurance

The paper provides critical theoretical and practical contributions to actuarial science by demonstrating the often-overlooked significance of higher-order mixed moments. It offers tools for robust risk assessment through sharp bounds and standardized rank coefficients. The findings emphasize that while higher-order moments often have a monotonic effect on overall capital requirements and life annuity pricing, their influence on individual risk contribution can be highly nuanced. This calls for actuaries and risk managers to move beyond traditional second-order moment analysis and carefully consider complex dependence structures to ensure accurate risk management and pricing in insurance.

Opinion of the EBA on money laundering and terrorist financing risks affecting the EU’s financial sector

This opinion and accompanying report from the 𝗘𝗕𝗔 provides a comprehensive overview of 𝗺𝗼𝗻𝗲𝘆 𝗹𝗮𝘂𝗻𝗱𝗲𝗿𝗶𝗻𝗴 (𝗠𝗟) 𝗮𝗻𝗱 𝘁𝗲𝗿𝗿𝗼𝗿𝗶𝘀𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 (𝗧𝗙) 𝗿𝗶𝘀𝗸𝘀 across the EU's financial sector from 2022 to 2024. The EBA, mandated to issue such an opinion biennially, identifies evolving threats driven by technological innovation, including vulnerabilities in FinTech, RegTech, and crypto assets, alongside the 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝘀𝗼𝗽𝗵𝗶𝘀𝘁𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗳𝗿𝗮𝘂𝗱 𝗮𝗻𝗱 𝗰𝘆𝗯𝗲𝗿𝗰𝗿𝗶𝗺𝗲 𝘀𝗰𝗵𝗲𝗺𝗲𝘀. While acknowledging positive developments like reduced tax crime risks and improved supervisory engagement in certain areas, the EBA highlights persistent challenges such as 𝗶𝗻𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁 𝗮𝗻𝘁𝗶-𝗺𝗼𝗻𝗲𝘆 𝗹𝗮𝘂𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝗮𝗻𝗱 𝗰𝗼𝘂𝗻𝘁𝗲𝗿-𝘁𝗲𝗿𝗿𝗼𝗿𝗶𝘀𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 (𝗔𝗠𝗟/𝗖𝗙𝗧) 𝘀𝘆𝘀𝘁𝗲𝗺 𝗲𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝗱 𝗽𝗿𝗼𝗺𝗶𝗻𝗲𝗻𝗰𝗲 𝗼𝗳 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗱𝘂𝗲 𝗱𝗶𝗹𝗶𝗴𝗲𝗻𝗰𝗲 (𝗖𝗗𝗗) 𝘀𝗵𝗼𝗿𝘁𝗰𝗼𝗺𝗶𝗻𝗴𝘀. The report underscores the critical need for regulatory clarity and a more unified application of risk-based approaches throughout the EU's financial landscape.

EIOPA monitoring exercise marks progress in the integration of climate change considerations into insurers’ risk assessments

The 𝗘𝗜𝗢𝗣𝗔 has evaluated 𝗵𝗼𝘄 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗶𝗻𝘀𝘂𝗿𝗲𝗿𝘀 𝗮𝗿𝗲 𝗶𝗻𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗶𝗻𝗴 𝗰𝗹𝗶𝗺𝗮𝘁𝗲 𝗰𝗵𝗮𝗻𝗴𝗲 𝗿𝗶𝘀𝗸𝘀 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲𝗶𝗿 𝗿𝗶𝘀𝗸 𝗮𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁𝘀, specifically within their 𝗢𝗥𝗦𝗔. The findings indicate that most insurers are now including both 𝗽𝗵𝘆𝘀𝗶𝗰𝗮𝗹 𝗮𝗻𝗱 𝘁𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻 𝗿𝗶𝘀𝗸𝘀 in their ORSA, utilizing 𝘀𝗰𝗲𝗻𝗮𝗿𝗶𝗼 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 more frequently to understand potential financial impacts. While progress has been made, challenges remain, such as 𝗶𝗻𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵𝗲𝘀 𝗮𝗰𝗿𝗼𝘀𝘀 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗿𝗲𝗴𝗶𝗼𝗻𝘀 and a 𝘀𝗵𝗼𝗿𝘁𝗮𝗴𝗲 𝗼𝗳 𝗵𝗶𝗴𝗵-𝗾𝘂𝗮𝗹𝗶𝘁𝘆 𝗱𝗮𝘁𝗮. EIOPA aims to continue fostering 𝘀𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘆 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝗰𝘆 and building capacity in this area.

Advanced Applications of Generative AI in Actuarial Science: Case Studies Beyond ChatGPT

This article claims that Generative AI (GenAI) is revolutionizing actuarial science, as demonstrated in four case studies. Large Language Models enhance claims cost prediction by extracting features from unstructured text, reducing errors. Retrieval-Augmented Generation automates market comparisons by processing document data. Fine-tuned, vision-enabled LLMs excel in classifying car damage and extracting contextual details. A multi-agent system autonomously analyzes datasets and generates detailed reports. GenAI also shows promise in automating claims processing, fraud detection, and document compliance verification. Challenges include regulatory compliance, ethical concerns, and technical limitations, emphasizing the need for careful integration of GenAI in insurance workflows.

Subgame Perfect Nash Equilibria in Large Reinsurance Markets

This paper presents a unified framework for reinsurance markets with multiple insurers and reinsurers, using Choquet risk measures and nonlinear pricing. It identifies Subgame Perfect Nash Equilibrium as the optimal concept, proving contracts are rational and Pareto optimal, with insurer welfare gains over monopoly scenarios.

A Formal Risk‑Driven Definition of Continuous Monitoring in Cybersecurity the Quarc Model

For years, "continuous monitoring" in cybersecurity lacked a clear definition, forcing improvised security practices. This paper introduces QUARC, a formal model that quantifies cybersecurity risk and links it to precise detection and response times. QUARC provides a robust, weight-free probabilistic risk function, translating this risk into concrete operational cadences using hazard and queue theories. This model offers a universal standard, allowing regulators to enforce testable compliance, security teams to monitor real-time conformance, and insurers to price risk accurately. QUARC transforms a vague policy into a measurable, enforceable reality, closing a critical loophole exploited by attackers.

On the Insurance of Environmental Risks: Modeling and Pricing with Mean‑Reverting Regime‑Switching Lévy Processes

This article presents modeling approaches—both structural and reduced-form—to improve the understanding and prediction of environmental risks. It enhances existing models for better risk assessment and pricing, particularly in infrastructure and land use contexts. Potential extensions include advanced temperature and rainfall modeling, such as stochastic mean-reversion and regime-switching Lévy processes. The paper also suggests future research comparing insurance pricing methods and exploring parametric insurance mechanisms, where payouts are triggered by measurable parameters rather than actual losses. These developments aim to refine environmental risk management and insurance strategies.