Collection

Insurance: complexity, risks and its connection with social sciences

Submission status
Closed

The journal Quality and Quantity: International Journal of Methodology invites contributions to a special issue devoted to qualitative and quantitative methods that aim at connecting the role of insurance activities and society.

Driving, working, health, life, disability, safety, unexpected climate events are just examples of where insurance can play a significant role in at least monetarily compensating for unforeseen losses and thereby reducing the impact of adverse events on individuals and families.

Some of the ingredients attracting researchers to this field, with increasing interest over the past twenty years, are the increasing availability of data, algorithms, and new methods.

Quite obviously and similarly to many industrial activities, insurance companies aim at profit. What is not well known is that they have also social responsibilities. For example, driving a car needs mandatory coverages for the good of not only the drivers but also of the non-drivers. Contracts to cover death events or to ensure regular retirement fund payments must consider payments to clients from one date forward. Solving an insurance problem is hardly free of constraints: it must consider financial sustainability which is a must that has to be fulfilled at any time. Constraints are also due to complex regulatory international treaties and local insurance supervisory institutions. They are necessary to control that management choices do not affect the financial balance of the company to protect both customers and community rights.

This special issue aims at collecting high quality papers mostly on the interconnections of insurance coverages and society. For example, COVID pandemic event has modified the projection of life tables. The unexpectedly higher mortality rate for some ages has reduced maximum life expectancy while simultaneously increasing coverage requirements for health problems. Another example concerns contributions on coverages of risks in industries to reduce the impact of fatalities of workers on their relatives. Analogously, papers on the measure of risk of road networks can on one hand direct insurance companies towards a deeper diversification of the risk of accidents according to the complexity of the road network and on the other hand could address local administration to improve safety where the probability of having an accident is estimated to be large.

The abovementioned topics are not at all exhaustive examples. Other topics are welcome. They should be included in papers that propose modern algorithms, methodologies and reproducible applications, possibly, with open coding and/or open sources to replicate their results. They should show how to balance the profit needs of insurance companies and the ethical need to provide welfare to the community.

For this special issue we seek substantive and methodological papers that focus on the following three main topics:

1. Non-life insurance / Stochastic claims reserving

2. Projection of life tables - Life,disability insurance products

3. Climate risks

The deadline for submission of a full paper is 30 September 2022.

To submit a paper, please prepare the manuscript according to the Q&Q journal rules and upload it via the online editorial manager system (editorialmanager.com/ququ/default.aspx). In addition, please send the basic information about your submission including the title of the paper, names and affiliations of all authors and abstract to insurance.datascience@unicatt.it via email.

All manuscripts received for this Special Issue will be subject to the usual procedure of double anonymous review and to the guest editors’ review. An invitation to submit a paper to this Special Issue does not imply automatic acceptance for publication. Some submissions are likely to be rejected.

The Special Issue is organized in conjunction with the Insurance Data Science Conference, held 15 - 17 June 2022 at Università Cattolica del Sacro Cuore, Milan (insurancedatascience.org).

Editors

  • Gian Paolo Clemente Gian Paolo Clemente , 

    Gian Paolo Clemente

    Università Cattolica del Sacro Cuore, Milano, Italy.

  • Nino Savelli Nino Savelli  &

    Nino Savelli

    Università Cattolica del Sacro Cuore, Milano, Italy.

  • Diego Zappa Diego Zappa

    Diego Zappa

    Università Cattolica del Sacro Cuore, Milano, Italy.

Articles (7 in this collection)