23 June 2021
UTC timezone
Internal satellite conference of the 8th European Congress of Mathematics - 8ECM

8 ECM / 8 ECM minisymposia

Below we have listed a minisymposium organized within 8 ECM that might also be interesting for insurance companies employees.


Mathematical challenges in insurance (MS - ID 41)



A detailed description is given below.



Mathematical challenges in insurance (MS - ID 41)


Mihael Perman (University of Primorska, Slovenia), mihael.perman@fmf.uni-lj.si


Bor Harej (PRS Prime Re Solutions AG), bor.harej@prs-zug.com
Tomaž Košir ( University of Ljubljana), tomaz.kosir@fmf.uni-lj.si
Claudia Klüppelberg (TU München), cklu@tum.de
Thomas Mikosch (University of Copenhagen), mikosch@math.ku.dk
Ermanno Pitacco ( University of Trieste), ermanno.pitacco@deams.units.it


Risk modelling is an essential tool for the insurance industry.  Recent changes in regulation on a European level, the global reach of the European insurance industry and changing financial markets along with strong competition have created new challenges for the industry and for mathematicians.  A liberal regulatory regime allows insurance companies to develop comprehensive risk management systems through internal models.  Such models are complex and involve advanced mathematical methods. The integration of statistical data processing, development of actuarial models and management decisions is a challenging problem. 

The availability of big data and advanced methods of machine learning is a new frontier for the insurance industry.  Applications range from detecting fraudulent practices, segmentation of customers, advanced pricing models to assisted financial decisions.  Fundamental mathematical questions of reliability and replicability of such applications must be addressed not only in insurance but in all applications of machine learning. 

The speakers will discuss modelling challenges and more fundamental questions of machine learning applications.  There has been a rising trend in weather-related claims stretching the capacity of (re)insurance to its limits.  Complex mathematical models to adjust for trends and assist with pricing in non-life insurance is yet another challenge for mathematical modelling.  Some new advances in this respect will be presented.