Insurance and actuarial studies Books

Book SynopsisIn recent years, much attention has been focused on the roles that the private sector and federal government play in providing insurance and financial aid before and after catastrophic events. In this context, the authors examined (1) the rationale for and resources of federal and state programs that provide natural catastrophe insurance; (2) the extent to which Americans living in catastrophe-prone areas of the United States are uninsured and underinsured, and the types and amounts of federal payments to such individuals since the 2005 hurricanes; and (3) public policy options for revising the federal role in natural catastrophe insurance markets.

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Book SynopsisA life settlement is a transaction in which an insurance policy owner sells a life insurance policy to a third party for an amount that exceeds the policy''s cash surrender value, but is less than the expected death benefit of the policy. Reports indicate that the life settlements market had experienced robust growth up until 2007 when it was estimated that $12 billion in face amount, or stated benefit, amount, of life insurance was sold in life settlement transactions. More recently, the amount sold has declined. This book outlines the Life Settlements Task Force''s findings about the life settlement market and recommends that the Commission consider certain actions to improve market practices and regulatory oversight.

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Book SynopsisThis book provides an analysis of select programs relating to life insurance. Topics include the Federal Employees'' Group Life Insurance program (FEGLI) and the retirement benefit and retained asset account disclosures that could be improved; Veteran''s benefits and current life insurance programs; and the insurance and tax issues of Corporate-Owned Life Insurance (COLI).

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Book SynopsisThe purpose of this book is to provide a straightforward and elementary understanding of asset protection and how it can be effectively implemented by taking various steps-like rungs on a ladder. This is a multi-tiered plan and works together as a whole to bring an individual to a higher level of protection. Some of the steps of the ladder may not be relevant to every individual, but they are all worthy of consideration and review. Through this book, an individual can determine the best course to take for their particular situation. Praise for The ABA Guide To Asset Protection “Jeff Matsen is an expert to the experts in the asset protection field. He also succinctly describes what won’t work, what might work, and what should work in an understandable way. Those seeking asset protection often share common characteristics—such as wealth, business ownership, real estate ownership, considerable income and estate tax exposures, as well professional practice ownership—and I recommend they read Jeff’s book to protect their families.” -Joseph J. Strazzeri, Esq.; Fellow, Southern California Institute; Co-founder, Laureate Center for Wealth Advisors “Jeff Matsen is one of the best estate planning and asset protection attorneys in the country. His knowledge, wisdom and direct experience helping thousands of professionals, executives, business owners, physicians, and dentists over his long career have truly made him one of the elite group of top experts in his field. If you are concerned about protecting your assets and want to leave a legacy for future generations, I highly recommend you read this book.” -Stephen Fairley, CEO of The Rainmaker Institute, LLC, The Nation’s Largest Law Firm Marketing Company “Having worked closely with Jeff on a number of complex and important asset protection cases, it is abundantly clear that nobody understands the nuances and practicalities of this area better than he. His unique ability of making issues clear for clients and their advisors is a gift. This book is required reading for any layperson or professional who wants to learn more about asset protection and more importantly, take action.” –Bill Deitch, Leading Estate Planning Attorney, Chicago “Jeff is widely recognized in the legal community as an asset protection guru. In this book, Jeff does a wonderful job of explaining the principles and strategies of complex asset protection planning in a very clear and easy-to-understand way.” -Marc Selden, Nationally Recognized Estate, Planning Attorney, New York City About the Author Jeffrey R. Matsen is the founder and managing partner of Matsen Voorhees Mintz LLP. His practice encompasses business formations and transactional matters, estate planning, asset protection, probate, tax and real estate. Mr. Matsen has been designated one of the nation's Top 100 Attorneys by Worth Magazine and one of Southern California's Super Lawyers by Los Angeles Magazine. He has the highest rating (“AV”) by Martindale Hubbell and also (“10 Superb”) by AVVO. Mr. Matsen has been an adjunct professor at Western State University College of Law, Golden Gate University and Chapman University School of Law. He also has lectured to various professional groups on areas related to his practice, including limited liability companies, business entity formation and selection, asset protection techniques, and other relevant topics. Mr. Matsen is a member of the American Bar Association (Real Property and Trust Section), WealthCounsel and the Society of Trust and Estate Practitioners (“STEP”). He also is a faculty member and fellow of the Center for International Legal Studies in Salzburg, Austria. Mr. Matsen earned his B.A. degree, cum laude, from Brigham Young University; and his J.D. degree, with honors, from the University of California at Los Angeles.Trade ReviewJeff Matsen is an expert to the experts in the asset protection field. Read Jeff's book to protect your families. -- Joseph J. Strazzeri, fellow, Southern California Institute; co-founder, Laureate Center for Wealth Advisors If you are concerned about protecting your assets and want to leave a legacy for future generations, I highly recommend you read this book. -- Stephen Fairley, CEO of The Rainmaker Institute, LLC, The Nation's Largest Law Firm Marketing Company This book is required reading for any layperson or professional who wants to learn more about asset protection and more importantly, take action. -- Bill Deitch, leading estate planning attorney, Chicago

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Book SynopsisWorkers'' compensation insurance covers nearly all workers in the U.S. and provides those who are injured or become ill as a result of work with medical treatment, a portion of lost wages, and a lump sum for some permanent impairments. Nonetheless, there are limitations to conducting studies that rely on workers'' compensation records since not all injuries and illnesses result in claims being filed. Furthermore, the data that are collected are not readily combined if obtained from multiple sources since requirements vary substantially among the states. This book was written to help describe elements of the workers'' compensation insurance programs in the U.S. and the potential to utilise the records for public health purposes. This book also focuses on several key policy issues facing the program, including the disproportionate share of claims and program costs attributed to postal workers, the payment of FECA benefits after retirement age, the overall level of FECA disability benefits as compared with those offered by the states, and the administration of the FECA program.

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Book SynopsisAccording to stakeholders with whom the United States Government Accountability office spoke, several conditions must be present to increase private sector involvement in the sale of flood insurance. First, insurers need to be able to accurately assess risk to determine premium rates. Second, insurers need to be able to charge premium rates that reflect the full estimated risk of potential flood losses while still allowing the companies to make a profit, as well as be able to decide which applicants they will insure. However, stakeholders said that such rates might seem unaffordable to many homeowners. Third, insurers need sufficient consumer participation to properly manage and diversify their risk, but stakeholders said that many property owners do not buy flood insurance because they may have an inaccurate perception of their risk of flooding. This book addresses the conditions needed for private sector involvement in flood insurance and strategies for increasing private sector involvement.

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Book SynopsisIn general, insurance is a highly regulated financial product. Every state requires licenses for insurance companies, and most states closely regulate both company conduct and the details of the particular insurance products sold in the state. This regulation is usually seen as important for consumer protection; however, it also creates barriers to entry in the insurance market and typically reduces to some degree the supply of insurance that is available to consumers. Rather than requiring consumers who may be unable to find insurance from a licensed insurer to simply go without insurance, states have allowed consumers to purchase insurance from non-licensed insurers, commonly called non-admitted or surplus lines insurers. Although any sort of insurance could be sold by a surplus lines insurer, most such transactions tend to be for rarer and more exceptional property and casualty risks, such as art and antiques, hazardous materials, natural disasters, amusement parks, and environmental or pollution risks. This book discusses surplus lines insurance, and property and casualty insurance.

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Book Synopsis"The Affordable Care Act, aka Obamacare, makes health insurance available to the majority of Americans.In fact, failure to obtain coverage will result in penalties, but the process of obtaining insurance can be daunting. This brief handbook explains the law and its history and tells readers how to apply for coverage and any exemptions and subsidies if they are eligible. Editor Amadeo, an expert on the act, discusses the benefits of having insurance and how the plan is financed. Each chapter has references, and the book has a glossary and a bibliography to help readers. This is a useful resource, but libraries should also have information about local exchanges if their states have them."— Barbara Bibel, BOOKLIST, March 15, 2016 issueObamacare can save you money, but only if you know how it really works.Americans have been barraged with fifteen times more negative than positive news about Obamacare. As a result, 40 percent of the people who dislike it actually qualified for insurance subsidies and don't realize it. Hardworking, middle-class families need facts, not opinions, to get all the benefits they deserve.Here you'll find: A guide to buying low-cost health insurance Step-by-step instructions to signing up for insurance Directions to apply for Obamacare exemptions Eligibility requirements for subsidies Definitions of insurance, health care, and Obama terms Real-life stories of people who have already been helpedThis handbook refutes the myths about the Affordable Care Act with research-based evidence. It reveals the seven reasons why health care costs so much, as well as how the ACA attacks those costs. You'll learn who really gets benefits from subsidies and who pays for them. Most importantly, this book uncovers how the ACA might save you and your family money in 2016 and beyond.

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Book SynopsisThe federal crop insurance program began in 1938 when Congress authorized the Federal Crop Insurance Corporation. The current program, which is administered by the U.S. Department of Agriculture''s Risk Management Agency (RMA), provides producers with risk management tools to address crop yield and/or revenue losses for about 130 crops. The federal farm safety net also includes the farm commodity support programs, which provide price and income support for a much narrower list of "covered and loan commodities" such as corn, wheat, rice, and peanuts. In purchasing a crop insurance policy, a producer growing an insurable crop selects a level of coverage and pays a portion of the premium -- or none of it in the case of catastrophic coverage -- which increases as the level of coverage rises. The federal government pays the rest of the premium. This book provides a primer on the federal crop insurance program and briefly summarises changes to the program by the 2014 farm bill.

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Book SynopsisResearch shows that spending on health care varies by geographic area and that higher spending in an area is not always associated with better quality of care. While a substantial body of research exists on geographic variation in spending in Medicare, less research has been done on variation in private sector health care spending, although this spending accounts for about a third of overall health care spending. As U.S. health expenditures continue to rise, policymakers and others have expressed interest in better understanding spending variation and how health care systems can operate efficientlythat is, providing equivalent or higher quality care while maintaining or lowering current spending levels. This book examines how spending per episode of care for certain high-cost procedures varies across geographic areas for private payers; and how the mix of service types, and the volume, intensity, and price of services contribute to variation in episode spending across geographic areas for private payers.

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Book SynopsisThe insurance sector is a significant part of the U.S. economy (with one estimate putting it at 7 percent of GDP) and an essential asset protection tool for American families and businesses. This book details strengths and weaknesses of current insurance regulatory systems (prudential and marketplace), providing considerations for determining where and how to modernize, and offering a way forward to increase the effectiveness of insurance oversight in the United States. Insurers operating in the United States rely on reinsurers, both foreign and domestic, to support the issuance of new policies, to minimize fluctuations in loss experience, and to limit and diversify individual and portfolio risks, particularly in the case of catastrophes and natural disasters. This book also summarizes the history of reinsurance as a product and an industry, and outlines the various important functions of reinsurance. The book emphasizes that global reinsurers are vital to U.S. insurers and thus important for the general economic prosperity of the United States, including through enhanced availability and affordability of insurance.

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Book SynopsisMany Fortune 500 companies, as well as mid-sized and small businesses and tax-exempt organizations, participate in captive insurance structures. To help lawyers decipher the intricacies of captive insurance, this guidebook begins with a discussion of types of captives and addresses how to approach whether a captive makes sense for a business owner. The book focuses on various aspects of the captive’s operation and management—from taxation, special uses, and regulation to eventual exit and potential tax litigation issues. Captive insurance covers legal and non-legal practice areas such as taxation (domestic, foreign, state, and local), insurance (regulatory, coverage, and reinsurance), securities, commercial transactions, employee benefits, tax controversy, actuarial science, underwriting, and more. Written by seasoned professionals with varying areas of expertise, Captive Insurance Deskbook for the Business Lawyer includes discussion on: Various types of captives Captive insurance company feasibility Using a captive to fund employee benefits and the advantages of placing them in captives Corporate counsel’s role with captives and managing conflicts of interest The role of the domicile regulator IRS examination of captive insurance And much more

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Book SynopsisA government takeover of the US health care system has never looked more plausible. Support for the idea is at an all-time high. Two-thirds of Democratic voters favor “single-payer” health care; even one in four Republicans is on board. In this Broadside, Sally C. Pipes makes the case against single-payer by offering evidence of its devastating effects on patients in Canada, the United Kingdom, and even the United States. Long wait times, substandard care, lack of access to innovative treatments, huge public outlays, and spiraling costs are endemic to single-payer. Those are hardly outcomes we should consider foisting upon the American health care system.

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Book SynopsisIt’s Not the Score, It’s the Trip tells the tale of a man who was driven, smart, and eager to be wealthy, from his early days with his, by most standards, huge family, led by a father who was his guide, mentor, and hero. He fell in love, twice: once with college friend Nancy Tofanelli and later with the insurance industry. Both relationships were defined by compassion, and each came to define his life. Brian O’Hara is an ordinary man who landed at a place and time in history that gave him the opportunity for an extraordinary life, and who recognized where he had landed and took the lead during some of the most remarkable years in the history of the financial services world.

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Book SynopsisInsurance and risk management make up an immense, complex global industry, one which is constantly changing. Competition continues to heat up as mergers and acquisitions create international mega-firms. As the insurance industry grows more global, underwriters see huge potential in China, the world's fastest-growing business market, as well as India, Indonesia, Africa and other emerging markets. Specialty insurance is creating high profits. Meanwhile, technology is making back-office tasks easier and more efficient, while direct selling and e-commerce are changing the shape of the insurance industry. This carefully researched book is a complete insurance market research and business intelligence tool - everything you need to know about the business of insurance and risk management. The book includes our analysis of insurance and risk management industry trends; dozens of statistical tables; an industry glossary; a database of industry associations and professional organizations; and our in-depth profiles of more than 300 of the world's leading insurance companies, both in the U.S. and abroad. You'll find a complete overview, industry analysis and market research report in one superb, value-priced package.Table of Contents Introduction 1 How to Use This Book 3 Chapter 1: Major Trends Affecting the Insurance Industry 7 1) Introduction to the Insurance Industry 8 2) Sophisticated Risk Management and Prevention Programs Lead to Lower Losses 9 3) Risk Managers Seek Certification 10 4) Independent Agencies Continue to Dominate Commercial Insurance, but Play a Lesser Role in Personal Lines 10 5) Insurance Direct Selling and E-Commerce Grow 10 6) Insurance Underwriting Uses Artificial Intelligence (AI)/Policy Holders Allow Their Habits to Be Tracked for Lower Insurance Rates 12 7) Artificial Intelligence (AI) Enables Life Insurance Underwriting 14 8) States Pick Up Some Wind and Flood Risk for Homeowners/Underwriters Rely on Sophisticated Risk Analysis Technology to Set Rates 14 9) No End in Sight to the Growth of Specialized Insurance Lines 15 10) Health Sharing Ministries Attract Millions of Members 16 11) Annuity Account Managers Create New Product Strategies 16 12) Major U.S., Japanese and European Insurance Firms See Vast Promise in Chinese, Southeast Asian and Emerging Markets 16 13) Continued Rise in Health Care Costs 18 14) Number of Uninsured Americans Declines But Remains High 19 15) U.S. Affordable Care Act (ACA) of 2010 Rewrote the Rules and Increased Coverage, But Costs Continue to Rise 19 16) Employers Fight Rapidly Growing Health Care Premiums/Require Employees to Pay a Significant Share of Costs 19 17) Insurance Companies Change Strategies Due to Affordable Care Act (ACA) and Rapidly Rising Costs of Care 21 18) Malpractice Suits Are Blamed for Rising Health Care Costs/Tort Reform Is Capping Awards for Damages 21 19) Hedge Funds and Private Equity Play a Major Role in Financial Products Including Derivatives, Lending and Insurance 22 20) Aging Populations, Baby Boomers Create Opportunities/U.S. Pension Accounts Top $36.7 Trillion 23 21) Basel III, Dodd-Frank Act and Volcker Act Increase Regulation/European Solvency II and MiFID 2 Take Effect 24 22) Financial Technology (FinTech) Enables Online Lending, Insurance and Robo Advisors 25 23) Drones Save Time and Money in a Variety of Industries Including Insurance, Real Estate and Construction 27 24) Gig Economy and Self-Driving Cars Pose Insurance Challenges and Underwriting Opportunities 27 25) The Future of the Insurance Industry and Risk Management 28 Chapter 2: Insurance Industry Statistics 29 Insurance Industry Statistics and Market Size Overview 30 Assets & Liabilities of U.S. Property-Casualty Insurance Companies: 2020-2nd Quarter 2023 31 Assets & Liabilities of U.S. Life Insurance Companies: 2020-2nd Quarter 2023 32 Employers' Costs for Total Compensation and Health Insurance, by Selected Characteristics, U.S.: Selected Years, 2019-2023 33 The Nation's Health Dollar: 2023 Where It Came From (Projected) 34 The Nation's Health Dollar: 2023 Where It Went (Estimated) 35 Number & Percent of Persons of All Ages with and without Health Insurance Coverage, U.S.: 2007-2022 36 Number & Percent of Persons without Health Insurance Coverage, by Age Group, U.S.: 2000-2022 37 Medical Care Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2023 38 Retirement Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2023 39 Employment in the Insurance Industry, U.S.: 2017-July 2023 40 Chapter 3: Important Insurance Industry Contacts 41 (Addresses, Phone Numbers and Internet Sites) Chapter 4: THE INSURANCE 350: Who They Are and How They Were Chosen 61 Index of Companies Within Industry Groups 62 Alphabetical Index 71 Index of U.S. Headquarters Location by State 75 Index of Non-U.S. Headquarters Location by Country 78 Individual Data Profiles on Each of THE INSURANCE 350 81 Additional Indexes Index of Hot Spots for Advancement for Women/Minorities 444 Index by Subsidiaries, Brand Names and Selected Affiliations 446 A Short Insurance Industry Glossary 465

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Book SynopsisWhat You Don't Know Will Hurt You!Turning 65 in America is a milestone and one of the markers is enrolling in Medicare. But the system is so complicated, and there is a lot of false information out there. In Toni King's Medicare Survival Guide Advanced: Basics and Beyond, Toni gives you the critical steps you need to enroll in Medicare properly. Toni shares various situations that she has experienced with her many clients during Medicare consultations, and gives you the information and tools you need to enroll on time to avoid the "famous" Medicare Part B and D penalties. Medicare Survival Guide Advanced helps you understand Medicare step by step... Learn How to Enroll the Correct Way • Still Working Past 65 • Turning 65 • VA Benefits • Laid-off or Retiring What Medicare Option Is Best for You • Medicare Supplement vs. Advantage • Losing Retirement Benefits How to Avoid • The Donut Hole • Part B Penalties • Part D IRMAA Penalties If you are enrolling in Medicare and are confused by the commercials and telemarketers, or from the information that well-meaning friends or family members give, let Toni guide you through the maze of Medicare.

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Book SynopsisThis book is an important contribution to a question that has received little analysis hitherto, namely, what is and what are the effect(s) of the duties imposed on an insurer to provide information to prospective policyholders. As well as original analysis of English, German and prospective European law, and with insights from law and economics, it makes some key recommendations. It should be read by all academics, policymakers, professionals and regulators with an interest in insurance law.'- John Birds, University of Manchester, UK'The serious reader will find here a first class monograph, well-structured and scholarly, with a clear perspective on some important issues arising in the law of insurance contracts today.'- From the foreword by Malcolm A. Clarke, St John s College, Cambridge, UKEnabling informed choices with regards to mass risk insurance is an aim pursued for decades now at both the national and European level. This book explores the extent to which the imposing of disclosure duties on the insurer may actually contribute to this end and where it inevitably reaches limits.Convinced that information problems cannot be solved by exclusively focusing on their legal dimension, the author provides the reader with a helpful overview of economic and behavior-orientated insights to the book's subject. Proceeding from these, the existing legal frameworks in the UK and Germany are critically analyzed and compared to more recent academic proposals for a future European insurance contract law. All of this is continuously supplemented by specific proposals for improvement.This inspiring book will be of use to scholars dealing with financial law and general questions of information policy. Insurance companies and lawyers dealing with cases first-hand will also find this to be a resourceful read.Trade Review‘This book is the result of a mind-bendingly huge amount of research. As such, it makes an invaluable contribution to the literature on at least one of the financial services industries which clearly need to put certain reforms in place. Loacker has started a very substantial debate which will continue for some years.’ -- Philip Taylor, MBE, Richmond Green Chambers‘This book is an important contribution to a question that has received little analysis hitherto, namely, what is and what are the effect(s) of the duties imposed on an insurer to provide information to prospective policyholders. As well as original analysis of English, German and prospective European law, and with insights from law and economics, it makes some key recommendations. It should be read by all academics, policymakers, professionals and regulators with an interest in insurance law.’ -- John Birds, University of Manchester, UK‘The serious reader will find here a first class monograph, well-structured and scholarly, with a clear perspective on some important issues arising in the law of insurance contracts today.’ -- From the foreword by Malcolm A. Clarke, St John’s College, Cambridge, UKTable of ContentsContents: Foreword by Malcolm A Clarke 1. Overview and Introduction 2. About Information and its Disclosure in General 3. Legal Basis for and Scope of Insurer's Pre-Contractual Information Duties 4. A Conclusion in Eight Final Observations Index

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Book SynopsisIslamic finance distinguishes itself from conventional finance with its strong emphasis on the moral consequences of financial transactions; prohibiting interest, excessive uncertainty, and finance of harmful business. When it comes to risk mitigation, it is unique in its risk sharing approach.This authoritative book tracks the evolution of the takaful industry over the course of the last four decades and makes a major attempt to highlight the importance of risk sharing through a discussion of various models of cooperation and critical analysis of their performance, including illuminating case studies and a critical assessment of the Islamic insurance model and the role of alternate financing mechanisms. Its high level discourse on shari'ah compliance and its nuances places emphasis on the importance of solidarity, cooperation, mutuality and reciprocity.Scholars and practitioners working in Islamic Finance will appreciate the context and nuance of this important book, and it will be essential reading for anyone interested in alternative forms of shari'ah compliant cooperative finance. The book is equally vital for academics and researchers interested in understanding various takaful models and their shari'ah considerations.Contributors include: A. Abozaid, A.U.F. Ahmad, A. Akhtar, S.N. Ali, H. Allam, M. Ayub, M. Al Bashir Al Amine, A. Bhatty, J.W. Bradford, S.E.B. Carmody, M.A. El-Gamal, M. Faisal, M.F. Haq, I. Bin Mahbob, A. Nana, V. Nienhaus, S. Nisar, U.A. Oseni, M. Rahman, A. Rehman, M.A. Samad, B. Shafiq, H. Sultan, A.-R. Syed, T.A. UddinTrade Review'This volume is probably the first of its kind in which the topic of takaful -- often neglected by literature -- is dealt with in a comprehensive fashion by leading academics and practitioners. The strength of the volume stems from its discussion of the ideas of mutuality and cooperatives, legal and regulatory frameworks, and the potential for takaful in social finance with a view towards sustainable development. Professors Ali and Nisar deserve congratulations for making this important and significant contribution to the literature on takaful.' --Zamir Iqbal, The World Bank Global Islamic Finance Development Center, Turkey'This book is a welcome addition to the literature on takaful, providing fresh perspectives, critical analysis and informative case studies which illustrate how Islamic insurance contributes to social finance in India and Indonesia. The principles of mutuality and solidarity are examined from different perspectives and the merits of a waqf-wakalah model are discussed. The legal and regulatory framework within which takaful operates is examined. The potential for shari ah-compliant cooperative financial services is assessed and a novel proposal is made for a lifetime annuity in family takaful. The standard of scholarship is impressive and Drs Nazim Ali and Shariq Nisar are to be congratulated in bringing together such a distinguished group of academics and professionals. The book is an essential purchase for libraries with collections in Islamic finance.' --Rodney Wilson, Durham University and INCEIF, Kuala LumpurTable of ContentsContents: Introduction PART I: INTRODUCTION TO TAKAFUL: FORM, FUNCTION AND CRITICISM 1. Takaful Journey: the Past and Present and Future Ajmal Bhatty and Shariq Nisar 2. Solidarity, Cooperation, and Mutuality in Takāful Volker Nienhaus 3. Mutuality, Reciprocity, and Justice within the Context of a Unified Theory of Riba and Ghara Mahmoud A. El-Gamal 4. A Proposed Marriage between Endowments, Mutual Insurance, and the Institution of Agency in Islamic Law—An Introduction to the Waqf-Wakalah Model of Takaful Abdullah Nana 5. A Critical Shari’ah Review of Takaful Structures: Towards a Better Model Abdulazeem Abozaid PART II: REGULATORY ENVIRONMENT AND LEGAL ASPECTS OF TAKAFUL 6. New Horizons: The Potential for Shari’ah-compliant Cooperative and Mutual Financial Services Sara E.B. Carmody 7. Toward a Watershed in Takaful Dispute Resolution: From Litigation to Effective Dispute Management Umar A. Oseni 8. Fatwā and its Role in Regulatory Capture and Arbitrage Joe W. Bradford PART III: TAKAFUL PRODUCT ANALYSIS 9. The Nature of Retakaful: Risk Sharing or Transferring Risks? Abu Umar Faruq Ahmad, Ismail Bin Mahbob and Muhammad Ayub 10. Commercial Credit Takaful Muhammad Al Bashir Muhammad Al Amine 11. Shari’ah Compliant High Watermark Protected Lifetime Annuity in Family Takaful? Hiba Allam and Volker Nienhaus PART IV: TAKAFUL AS SOCIAL FINANCE 12. Reimagining takaful: A New Model for Social Banking Hussam Sultan and Abdur-Rahman Syed 13. Islamic Co-operatives: A Route to Poverty Alleviation and Economic Development Mian Farooq Haq and Bushra Shafiq 14. Scaling Poverty Reduction in Indonesia: Enhancing the Institutional Effectiveness of Islamic Microfinance Institutions Tanvir Ahmed Uddin and Muhammad Maaz Rahman 15. Micro-takaful in India: A Path Towards Financial Inclusion and Sustainable Development Mohammad Faisal, Asif Akhtar, Asad Rehman and M. Abdul Samad Index

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Book SynopsisThis book will be a "must" for people who want good knowledge of big data concepts and their applications in the real world, particularly in the field of insurance. It will be useful to people working in finance and to masters students using big data tools. The authors present the bases of big data: data analysis methods, learning processes, application to insurance and position within the insurance market. Individual chapters a will be written by well-known authors in this field.Table of ContentsForeword xiJean-Charles POMEROL Introduction xiiiMarine CORLOSQUET-HABART and Jacques JANSSEN Chapter 1. Introduction to Big Data and Its Applications in Insurance 1Romain BILLOT, Cécile BOTHOREL and Philippe LENCA 1.1. The explosion of data: a typical day in the 2010s 1 1.2. How is big data defined? 4 1.3. Characterizing big data with the five Vs 5 1.3.1. Variety 6 1.3.2. Volume 7 1.3.3. Velocity 9 1.3.4. Towards the five Vs: veracity and value 9 1.3.5. Other possible Vs 11 1.4. Architecture 11 1.4.1. An increasingly complex technical ecosystem 12 1.4.2. Migration towards a data-oriented strategy 17 1.4.3. Is migration towards a big data architecture necessary? 18 1.5. Challenges and opportunities for the world of insurance 20 1.6. Conclusion 22 1.7. Bibliography 23 Chapter 2. From Conventional Data Analysis Methods to Big Data Analytics 27Gilbert SAPORTA 2.1. From data analysis to data mining: exploring and predicting 27 2.2. Obsolete approaches 28 2.3. Understanding or predicting? 30 2.4. Validation of predictive models 30 2.4.1. Elements of learning theory 31 2.4.2. Cross-validation 34 2.5. Combination of models 34 2.6. The high dimension case 36 2.6.1. Regularized regressions 36 2.6.2. Sparse methods 38 2.7. The end of science? 39 2.8. Bibliography 40 Chapter 3. Statistical Learning Methods 43Franck VERMET 3.1. Introduction 43 3.1.1. Supervised learning 44 3.1.2. Unsupervised learning 46 3.2. Decision trees 46 3.3. Neural networks 49 3.3.1. From real to formal neuron 50 3.3.2. Simple Perceptron as linear separator 52 3.3.3. Multilayer Perceptron as a function approximation tool 54 3.3.4. The gradient backpropagation algorithm 56 3.4. Support vector machines (SVM) 62 3.4.1. Linear separator 62 3.4.2. Nonlinear separator 66 3.5. Model aggregation methods 66 3.5.1. Bagging 67 3.5.2. Random forests 69 3.5.3. Boosting 70 3.5.4. Stacking 74 3.6. Kohonen unsupervised classification algorithm 74 3.6.1. Notations and definition of the model 76 3.6.2. Kohonen algorithm 77 3.6.3. Applications 79 3.7. Bibliography 79 Chapter 4. Current Vision and Market Prospective 83Florence PICARD 4.1. The insurance market: structured, regulated and long-term perspective 83 4.1.1. A highly regulated and controlled profession 84 4.1.2. A wide range of long-term activities 85 4.1.3. A market related to economic activity 87 4.1.4. Products that are contracts: a business based on the law 87 4.1.5. An economic model based on data and actuarial expertise 88 4.2. Big data context: new uses, new behaviors and new economic models 89 4.2.1. Impact of big data on insurance companies 90 4.2.2. Big data and digital: a profound societal change 91 4.2.3. Client confidence in algorithms and technology 93 4.2.4. Some sort of negligence as regards the possible consequences of digital traces 94 4.2.5. New economic models 95 4.3. Opportunities: new methods, new offers, new insurable risks, new management tools 95 4.3.1. New data processing methods 96 4.3.2. Personalized marketing and refined prices 98 4.3.3. New offers based on new criteria 100 4.3.4. New risks to be insured 101 4.3.5. New methods to better serve and manage clients 102 4.4. Risks weakening of the business: competition from new actors, “uberization”, contraction of market volume 103 4.4.1. The risk of demutualization 103 4.4.2. The risk of “uberization” 104 4.4.3. The risk of an omniscient “Google” in the dominant position due to data 105 4.4.4. The risk of competition with new companies created for a digital world 105 4.4.5. The risk of reduction in the scope of property insurance 106 4.4.6. The risk of non-access to data or prohibition of use 107 4.4.7. The risk of cyber attacks and the risk of non-compliance 108 4.4.8. Risks of internal rigidities and training efforts to implement 109 4.5. Ethical and trust issues 109 4.5.1. Ethical charter and labeling: proof of loyalty 110 4.5.2. Price, ethics and trust 112 4.6. Mobilization of insurers in view of big data 113 4.6.1. A first-phase “new converts” 113 4.6.2. A phase of appropriation and experimentation in different fields 115 4.6.3. Changes in organization and management and major training efforts to be carried out 118 4.6.4. A new form of insurance: “connected” insurance 118 4.6.5. Insurtech and collaborative economy press for innovation 121 4.7. Strategy avenues for the future 122 4.7.1. Paradoxes and anticipation difficulties 122 4.7.2. Several possible choices 123 4.7.3. Unavoidable developments 127 4.8. Bibliography 128 Chapter 5. Using Big Data in Insurance 131Emmanuel BERTHELÉ 5.1. Insurance, an industry particularly suited to the development of big data 131 5.1.1. An industry that has developed through the use of data 131 5.1.2. Link between data and insurable assets 136 5.1.3. Multiplication of data sources of potential interest 138 5.2. Examples of application in different insurance activities 141 5.2.1. Use for pricing purposes and product offer orientation 142 5.2.2. Automobile insurance and telematics 143 5.2.3. Index-based insurance of weather-sensitive events 145 5.2.4. Orientation of savings in life insurance in a context of low interest rates 146 5.2.5. Fight against fraud 148 5.2.6. Asset management 150 5.2.7. Reinsurance 150 5.3. New professions and evolution of induced organizations for insurance companies 151 5.3.1. New professions related to data management, processing and valuation 151 5.3.2. Development of partnerships between insurers and third-party companies 153 5.4. Development constraints 153 5.4.1. Constraints specific to the insurance industry 153 5.4.2. Constraints non-specific to the insurance industry 155 5.4.3. Constraints, according to the purposes, with regard to the types of algorithms used 158 5.4.4. Scarcity of profiles and main differences with actuaries 159 5.5. Bibliography 161 List of Authors 163 Index 165

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Book SynopsisMalta is the only country in the European Union, and one of only six countries in the world, that has not had a banking crisis since the 1970s. Despite its lack of raw materials, Malta currently has one of the lowest rates of unemployment and inflation in the EU, as well as a positive GDP. Yet there are only a few studies on the development of the industry that contributes most to its economy, the financial services industry. Drawing upon empirical findings, archival research, and interviews, Zammit, Spiteri, and Grima fill a major gap in the literature by delivering a study of the development of the Maltese insurance industry. The authors collect literature and insights from prominent figureheads in order to outline the history of this major sector of the Maltese economy, tracing its roots back to the earliest inhabitants of the island, through to the expansion of its maritime trade, and working right up to the present with the emergence of more complex and sophisticated insurance services and products. The success of Malta's specific risk-management practices, generally characterized by risk-avoidance and prudence, is shown to have implications beyond Maltese financial policy and regulatory development: it offers concrete guidance from a small-scale "laboratory" for the complex policy and development decisions of larger nations. This study is of interest to students and academics of insurance, risk management, and financial services, and it offers food for thought and guidance to practitioners and policy makers.Trade ReviewThough insurance is one of the largest sectors of the Maltese financial services industry and a major pillar in its economy, say Zammt, Spiteri, and Grima, there is little research and literature about it. This is because most of the historical records, and most of the sources they cite here, hinge on maritime history and the historical account of the ports and port activity. They present literature and insights from prominent figureheads on the history and development of this sector of the Maltese economy, starting from the earliest inhabitants of the island and its roots in maritime trade, to the present and the emergence of more complex and sophisticated insurance services and products. -- Annotation ©2018 * (protoview.com) *Table of ContentsChapter 1. Introduction and Roadmap of the Study Chapter 2. Literature review Chapter 3. Research Findings and Discussion Chapter 4. Conclusion

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Book SynopsisThis timely Encyclopedia is a much-needed thorough reference on Islamic insurance policy and the ways in which this can be modelled to cohere with Shari'ah law. The authors explore the ways in which Islamic insurance can be halal, contradicting the widely held belief that insurance policies are not appropriate or moral, utilizing evidence from both the Qu'ran and top Islamic scholars to do so. The book explores Takaful, an insurance paradigm that is in accordance with Islamic principles and suits the needs of modern Islamic economies and communities. It examines the practices, principles, framework and importance of the notion of Takaful, using evidence from the Qu'ran and Islamic teachings to support this. Chapters examine how Takaful is different to conventional insurance models that are not permissible under Shari'ah law, contradicting misconceptions about the possibility of an insurance policy that is achievable within Islamic communities. The book further explores the room for cooperation between Takaful services and Islamic banking, offering insight into how this can be improved in the future. A valuable asset for Islamic insurance and Islamic economics scholars, this timely book offers a thorough analysis of Takaful, Retakaful and Islamic insurance in our modern world. It will also be a useful read for those practising Takaful to ensure that their advice coheres with Shari'ah law.Trade Review‘This volume is a good reference for those new to the field and a good guide for the pure qualitative and Islamic aspects of Takaful.’ -- Faizal Ahmad Manjoo, The Muslim World Book ReviewTable of ContentsContents: Preface Foreword Introduction Bibliography 1. A general introduction to Takaful 2. Understanding the pillars of Takaful 3. Regulatory framework of Takaful 4. Takaful and conventional insurance – A comparison 5. Practices of Takaful 6. Retakaful and its importance to Islamic Finance 7. Contemporary issues in Takaful implementation Index

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Book SynopsisChallenges destabilize the norm and create distresses and disruptions in, for example, the culture, the technology, regulations, the environmental, etc. that influence the pace of finance and economic activities. This book is a collection of 13 chapters and studies about Insurance and Risk management in response to disruptions caused by social, economic, and environmental challenges to try and stabilize the economy in an effort to ensure sustainability. Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems brings together studies from scholars, researchers and professionals with different disciplinary backgrounds to highlight discuss and exchange ideas on these challenges, which may seem a danger, but offer prospects for economic and business development. Books in the Emerald Studies In Finance, Insurance, And Risk Management series collect quantitative and qualitative studies in areas relating to finance, insurance, and risk management. Subjects of interest may include banking, accounting, auditing, compliance, sustainability, behaviour, management, and business economics.Table of ContentsChapter 1. Mapping out Cross-Sectoral Collaboration and Multi-Level Governance within Single-use Plastic Policy: An Analysis; Clinton Cassar and Mario Thomas Vassallo Chapter 2. Financial Regulation and Bank Supervision during a Pandemic; Peterson K. Ozili Chapter 3. A Study of Insurance Contracts within the Legal Context of a Small Island Influenced by The Commonwealth, The European Union and The Mediterranean The case of Utmost Good Faith and Insurable Interest; Ramon Mizzi, Andre Farrugia, Ercan Özen, and Simon Grima Chapter 4. Consumer Behavior in the New Economic Reality. Approaches to Personalised Medicine: From Paradigms to Challenges; Artiom Jucov, Liliana Staver, and Larisa Mistrean Chapter 5. Determination of the Sensitivity of Stock Index to Macroeconomic and Psychological Factors by MARS Method; Münevvere Yıldız and Letife Özdemir Chapter 6. Enterprise Risk Management Assessment of Romanian listed companies for Sustainable Development; Camelia–Daniela Hategan, Nicoleta Sirghi, and Ruxandra Curea-Pitorac Chapter 7. The Effects of Capital Structure Decisions on Financial Risk and Failure: A Research on BIST Food Companies; Serdar Yaman and Turhan Korkmaz Chapter 8. Global Impasses in Public Services Provision due to Covid-19 in G-20 Countries; Sevilay Ece Gümüş Özuyar Chapter 9. Implementation of Sustainability; Özlem Tuna Chapter 10. Sustainability Risk Management: A Survey of the Literature; Oya Korkmaz Chapter 11. Financial Institutions' Governance Innovation and Credibility Strategy; Tjaša Štrukelj, Sabina Taškar Beloglavec, Daniel Zdolšek, and Vita Jagrič Chapter 12. CSR 4.0 Dimensions in Relation to the Advantages of Industry 4.0; Anca Băndoi, Cătălina Sitnikov, Anca Tănasie, and Ionut Riza Chapter 13. European Insurance Market Development under the Economic Welfare: Advanced Econometric Approaches; Mirela Cristea, Grațiela Georgiana Noja, Silviu-Valentin Cârstina, and Elena Sorina Caragiani

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Book SynopsisThis thoroughly revised second edition of the Research Handbook on International Insurance Law and Regulation provides an updated assessment of the insurance industry in an international context, featuring 30 chapters, of which half are new for this edition, written by expert academics and practising lawyers.Produced in association with Lloyd’s of London, chapters provide in-depth studies on key areas including judicial interpretation of insurance contract clauses and transnational regulatory recognition, as well as overviews on important international jurisdictions such as the EU, Japan and the US. This comprehensive second edition critically analyses how insurance law and regulation have responded to the growth in sophisticated technology, the burgeoning climate crisis, and the development of new insurance structures.This Research Handbook will appeal to legal students and academics, particularly those with an interest in commercial law, finance and banking law, and insurance law. This book will also be beneficial for policymakers and private practice lawyers working in the commercial legal sector. Table of ContentsContents: Foreword xii Introduction to the second edition xiv Introduction to the first edition xxv PART I INSURANCE CONTRACT LAW 1 The shape of insurance contract law 2 James Davey 2 Methodology: how a law and economics approach has shaped insurance law 24 Peter Molk 3 Definition: the general and the parametric 36 Laura Burgoyne 4 Pre-contractual duties: the fair presentation of the risk – an English law approach 76 Peter MacDonald-Eggers KC 5 Contract terms: judicial approaches to the interpretation of insurance contracts 103 Oliver Brand 6 Claims: an overview of the US tort of ‘bad faith’ – a common law approach to regulating insurer claims-handling and settlements 133 Suzanne C. Midlige and William J. Metcalf 7 Reinsurance: finding the balance between reinsurers’ and reinsureds’ interests 165 Michael Mendelowitz and Rob Merkin KC 8 Closing books of business: the challenge of fairness and finality 192 Bob Haken and Simon Baker 9 Choice of law: New York and English approaches to insurance and reinsurance contracts 221 Raymond Cox KC PART II INSURANCE REGULATION 10 An introduction to insurance regulation 247 Peter Kochenburger and Patrick Salve 11 Systemic risk regulation: evolving approaches in insurance 281 Jeremy C. Kress, Patricia A. McCoy and Daniel Schwarcz 12 Competition: the insurance sector and the application of competition law – an overview 308 Edward W. Batchelor 13 Transnational supervisory recognition: a macro-jurisdictional overview 342 Hermann Geiger 14 Prudential supervision: capital standards in a risk-based solvency regime 367 Karel Van Hulle 15 Conduct of business regulation: a survey of the UK regime and a comparison with the US, German, French and Hong Kong approach 404 James Smethurst, Wessel Heukamp, Marc Perrone, Matthew O’Callaghan, Priti Lancaster and John Mulhern 16 Enforcement: a survey of the approaches taken to insurance regulatory enforcement in the United States of America and in the United Kingdom 438 Aviva Abramovsky, Dan D. Kohane, Farhaz Khan KC and Paul Bonner Hughes 17 Lloyd’s: the authorisation of Lloyd’s in the United Kingdom and overseas 467 Julian Burling 18 Lloyd’s: the development of performance management 499 Kevin Lazarus PART III DEVELOPING AREAS OF INSURANCE LAW AND REGULATION 19 Alternative risk transfer: insurance linked securities – their evolution, structures and regulation 523 Joseph Ferraro, Jennifer Tait and David Griffiths 20 Sustainability: the climate and nature crisis – a leadership role for insurance 551 Geoff Summerhayes, Laura Waterford, Nigel Brook, Wynne Lawrencea, and Zaneta Sedilekova 21 Data: the growth of risk-related data in insurance and protecting privacy 590 Brendan McGurk 22 Smart contracts: balancing innovation and consumer protection in insurance law and regulation 621 Miriam Goldby and Jeremmy Okonjo 23 Artificial intelligence: attempts at developing an ethical approach for its use in insurance 647 Anya Prince and Seamus Taylor PART IV REGIONAL STUDIES IN INSURANCE LAW AND REGULATION 24 Europe: the architecture and content of EU insurance regulation 675 Robert Purves 25 USA: A regulatory overview of the world’s largest insurance market 708 John Mulhern, Sara Manske and Robert Mancuso 26 Bermuda: regulating big insurance on a small island 728 Alex Potts KC and Jonathon O’Mahony 27 United Arab Emirates: developing insurance on the Arabian Peninsula 759 Sam Wakerley, John Barlow, Thomas Neighbour and Shane Gibbons HFW 28 China: insurance regulation in a rapidly evolving market 787 Carrie Yang 29 Japan: the insurance concept in the Insurance Act and the Insurance Business Act 810 Seiichi Ochiai, Shinichi Takahashi and Ryoko Takeda 30 The Republic of Korea: an overview of insurance law and regulation 835 Jae Hong Ahn, Partner, Kim, Chang, Sung Woo Huh, Kim Chang and Younghwa Paik Index 856

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Book SynopsisBig data – unstructured and/or structured data being used to influence underwriting, rating, pricing, forms, marketing and claims handling and incentivize risk reduction – is a relatively recent development in the insurance industry, the data sets previously being too impossibly great to analyse through traditional methods. However, with the global capacity to collect and store data growing alongside advancements in AI and machine learning technology, insurers need to seriously evaluate their technology stacks to ensure they can remain competitive and respond to growing customer demand. Striking a balance between the technical characteristics of the subject and the practical aspects of decision making, spanning from fraud analytics in claims management, to customer analytics, to risk analytics in solvency, the comprehensive coverage presented makes Big Data an invaluable resource for any insurance professional. Providing high quality academic research, Emerald Studies in Finance, Insurance, and Risk Management provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale. Subjects of interest may include banking, accounting, auditing, compliance, sustainability, behaviour, management, and business economics.Table of ContentsChapter 1. Use of Wearables and Health Applications in Insurance Industry using Internet of Things and Big Data; Pallavi Seth and Kamal Gulati Chapter 2. Emerging Technologies of Big Data in Insurance Market; Aradhana Rana, Rajni Bansal, and Monica Chapter 3. Adoption of Internet of Things and Services in the Indian Insurance Industry; Vimal Sharma and Deepak Sood Chapter 4. Emerging Technologies in Insurance Sector: Evidence from Scientific Literature; Adil Zia and Prateek Kalia Chapter 5. Predictive Performance of Indian Insurance Industry using ANN and SVM: A Comparative Study; Jasleen and Payal Bassi Chapter 6. Blockchain Technology as an Emerging Technology in Insurance Market; Sonal Trivedi and Reena Malik Chapter 7. Crowdsourcing, Insurance and Analytics: The Trio of Insurance Future; Shivani Inder Chapter 8. Big Data in Insurance Innovation; Kuldeep Singh Kaswan, Jagjit Singh Dhatterwal, Himanshu Sharma, and Kiran Sood Chapter 9. Big Data Analytics Application and Enhanced FDI prospects for Insurance Sector; Shelly Verma, Manju Dhaiya, and Simon Grima Chapter 10. The Use of Big Data in the Insurance Industry Innovations in China; Ajit Bansal, Sumit Agarwal, Sushil Kalra, Anu Bansal, and Sandhir Sharma Chapter 11. New Developments in Banking Sector & Impact: Covid-19; Nitin Thapar, Suresh Kumar Kaswan, and Jyotsna Sharma Chapter 12. Foreign Direct Investment Impact and effect on Indian Insurance Sector: Major key Driver; Nitin Thapar, Taranjit Singh Vij, Rajeev Kumar, and Jyotsna Sharma Chapter 13. Big Data Analytics - Tools and Techniques Application in Insurance Sector; Ayesha Banu Chapter 14. Revamping Indian Non-Life Insurance Industry with a trusted network: Blockchain Technology; Kiran Sood, Baljinder Kaur, and Simon Grima Chapter 15. Digital financial inclusion; Peterson Kitakogelu Chapter 16. Perceived Effectiveness of Digital Transformation and Insurtech use in Malta: A Study in the Context of the European Union's Green Deal; Kimberly Pirotta, Simon Grima, and Ercan Ozen Chapter 17. The General Data Protection Regulation (GDPR) for Risk Mitigation in the Insurance Industry; Claire Farrugia, Simon Grima, and Kiran Sood Chapter 18. Cyber Security Law-based Insurance Market; Kuldeep Singh Kaswan, Jagjit Singh Dhatterwal, Sanjay Kumar, and Sandeep Lal

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Book SynopsisBig Data Analytics in the Insurance Market is an industry-specific guide to creating operational effectiveness, managing risk, improving financials, and retaining customers. This book will be a 'must' for people seeking to broaden their knowledge of big data concepts and their real-world applications, particularly in the field of insurance. The insurance industry is largely dependent on data, and the advent of Big Data and analytics represents a major advance with tremendous potential. Yet clear, practical advice on the business side of analytics is lacking. This book fills the void with concrete information on using Big Data in the context of day-to-day insurance operations and strategy. This book an invaluable resource for any insurance professional from practitioners and policymakers working at insurance companies, to undergraduate and graduate students of economics management, and finance. Providing high quality academic research, ESFIRM provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale.Table of ContentsChapter 1. Cyber Security and Data Privacy in the Insurance Market; Priti Rani Rajvanshi, Taranjeet Singh, Deepa Gupta, and Mukul Gupta Chapter 2. Comparative predictive performance of BPNN and SVM for Indian Insurance Companies; Jasleen Kaur and Payal Bassi Chapter 3. Big Data Analytics for Credit Card Fraud Detection Using Supervised Machine Learning Models; Yakub Kayode Saheed, Usman Ahmad Baba, and Mustafa Ayobami Raji Chapter 4. Decision Making Optimization in Insurance market using Big Data Analytics-Survey; Manish Bhardwaj and Shivani Agarwal Chapter 5. Bigdata Analytics Adoption In The Indian Insurance Industry: Challenges & Solutions; Maryam Saeed and Noman Arshed Chapter 6. Sustainable Economic Growth with Big Data Analytics; Shivani Vaid Chapter 7. Insurance Automotive Application Using Edge Computing; Kamal Gulati and Pallavi Seth Chapter 8. Big Data Analytics Application in the Indian Insurance Sector; Shikha Sharma, Manju Dahiya, and Simon Grima Chapter 9. Big Data: A Disruptive Innovation in the Insurance Sector; Aradhana Rana, Rajni Bansal, and Monica Gupta Chapter 10. Recent Trends and Inflows of Foreign Direct Investment in India: With a Specific Reference to the Insurance Sector; Samridhi Tanwar and Surbhi Bhardwaj Chapter 11. Employing Bibliometric Analysis to identify emerging Technologies in the Insurance Industry; Akhil M P Chapter 12. The Impact of Big Data Technology on the Advancement of the Insurance Industry; Teena Pareek Chapter 13. Can Central bank digital currency increase financial inclusion? Arguments for and against; Peterson K Ozili Chapter 14. Application of Machine Learning for Fraud Detection- A Decision Support System in the Insurance Sector; Jyoti Verma Chapter 15. The role and significance of data protection in risk management practices in the insurance market; Sonal Trivedi and Reena Malik Chapter 16. Emerging Technologies in the Insurance Market; Jagjit Singh Dhatterwal, Kuldeep Singh Kaswan, Pretty, and Balamurugan Balusamy Chapter 17. The Role of Artificial Intelligence in the Insurance Industry of India; Vimal Sharma and Deepak Sood

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Book SynopsisThis collected edition provides a comprehensive and practical roadmap for insurers, data scientists, technologists, and insurance enthusiasts alike, to navigate the data-driven revolution that is sweeping the insurance landscape.

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Book SynopsisOn the premise that pension provision in Europe will dramatically change over the next few decades, this book concentrates on the funded component of pension wealth, and specifically on annuities - financial products that, on the basis of actuarial equivalence, allow the conversion of wealth into a lifelong stream of income. Developing an Annuity Market in Europe provides an analysis of how longevity and return risks are dealt with, besides considering key features from both household and insurance company perspectives. It takes account of the fact that annuity markets are expected to attract much interest in future years given the prospective cuts in public pension expenditure. In order to fill the gap between shrinking pensions and desired retirement consumption, the authors argue, annuities must be well regulated and supplied with financially attractive products. These conditions hardly exist today: thin markets and scant interest prevail, information is incomplete and imperfect, products show significant disparities. The contributors to this book explore the causes of present malfunctioning and examine the changes that may give annuities a new and vital function, which, along with greater competition and greater regulation may significantly alter the present scene of pension finance.Finally, the book offers an overview of regulatory issues including transparency, prudential provisions, appropriate levels of guarantees, and administrative costs.This important and timely book will be invaluable to anyone interested in annuities, from practitioners through to students, researchers and academics concerned in financial or public economics.Trade Review'The book is highly recommended to anyone interested in this subject. There is a lack of contributions that deal adequately with issues such as the articulation of various pension schemes, horizontal and vertical equity, political choices, public versus private annuitisation, and so on. . . The main merit of Elsa Fornero and Elisa Luciano's work is their success in bringing together so many renowned experts and varied texts, and the book undoubtedly contributes to progress in knowledge about pensions, savings and welfare policies.' -- Life and Pensions MagazineTable of ContentsContents: 1. Introduction 2. Annuities for an Aging World 3. Issues in the Regulation of Annuities Markets 4. Annuity Risk: Volatility and Inflation Exposure in Payments from Immediate Life Annuities 5. Pension Annuitization and Social Security Claiming 6. Longevity Risk in Living Benefits 7. Guaranteed Annuity Conversion Options and their Valuation 8. The Behavior of UK Annuity Prices from 1972 to 2002 9. Private Annuities and Public Pensions in Germany 10. Mandated Annuities in Switzerland 11. The Market for Annuities in Italy: Reality or Chimera? Index

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Book SynopsisFinancial reform has been a major concern for China's transitional economy - especially in the realms of banking and insurance - since accession to the WTO in 2001. This book scrutinizes the development and limitations of these industries during the process of institutional transformation, and demonstrates that they are now facing severe challenges as well as opportunities. The relationships between the market structure, behavior and performance of China's banking and insurance industries are analysed. The strengths, weaknesses, opportunities and threat (SWOT) approach is utilized in investigating the impact of WTO accession on Chinese banking and insurance, and strategies for the prevention of future financial crises are prescribed. Exploring the juxtaposition of institutional transformation in China and the financial risk inherent in the old system, the book concludes that with WTO accession and the opening up of financial services to foreign companies, competitiveness will become fiercer, resulting in increased uncertainty, intensifying the level of risk even further. Banking and Insurance in the New China will prove invaluable to multinational enterprise managers, brokers, dealers and investors, business economists, students and academics with a specific interest in the Chinese economy.Table of ContentsContents: Preface 1. China’s Banking Industry During the Process of Institutional Transformation 2. The Evolution of China’s Insurance Market 3. The Impact of WTO Accession on China’s Banking and Insurance Industries 4. Empirical Analysis of Market Structure, Behavior and Performance 5. Perspectives References Index

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Book SynopsisThere is a broad range of literature on the economics of insurance and risk management. This timely publication contains recent theoretical contributions to the economics of insurance and presents empirical tests and applications of the theory to many different insurance markets. It also offers important insights into the factors influencing corporate risk management decisions, and the theoretical underpinnings for why corporations with well-diversified shareholders would reduce risk. This two-volume set will be an essential resource to everyone with an interest in these important subjects.Table of ContentsContents: Volume I: Economics of Insurance Markets Acknowledgements Introduction Gregory R. Niehaus PART I RISK POOLING, INSURER CAPITAL AND OWNERSHIP STRUCTURE 1. John M. Marshall (1974), ‘Insurance Theory: Reserves versus Mutuality’ 2. George Zanjani (2002), ‘Pricing and Capital Allocation in Catastrophe Insurance’ 3. Lawrence A. Berger, J. David Cummins and Sharon Tennyson (1992), ‘Reinsurance and the Liability Insurance Crisis’ 4. David Mayers and Clifford Smith (1988), ‘Ownership Structure Across Lines of Property-Casualty Insurance’ 5. Bruce D. Smith and Michael Stutzer (1995), ‘A Theory of Mutual Formation and Moral Hazard with Evidence from the History of the Insurance Industry’ PART II ADVERSE SELECTION AND CLASSIFICATION 6. Alma Cohen (2005), ‘Asymmetric Information and Learning: Evidence from the Automobile Insurance Market’ 7. John Cawley and Tomas Philipson (1999), ‘An Empirical Examination of Information Barriers to Trade in Insurance’ 8. Georges Dionne and Neil A. Doherty (1994), ‘Adverse Selection, Commitment, and Renegotiation: Extension to and Evidence from Insurance Markets’ 9. Keith J. Crocker and Arthur Snow (1986), ‘The Efficiency Effects of Categorical Discrimination in the Insurance Industry’ 10. Eric W. Bond and Keith J. Crocker (1991), ‘Smoking, Skydiving, and Knitting: The Endogenous Categorization of Risks in Insurance Markets with Asymmetric Information’ 11. Michael Hoy and Michael Ruse (2005), ‘Regulating Genetic Information in Insurance Markets’ PART III PRICING AND UNDERWRITING CYCLES 12. Ralph A. Winter (1994), ‘The Dynamics of Competitive Insurance Markets’ 13. J. David Cummins and Patricia Danzon (1997), ‘Price, Financial Quality, and Capital Flows in Insurance Markets’ 14. Scott E. Harrington and Patricia M. Danzon (1994), ‘Price Cutting in Liability Insurance Markets’ PART IV MISCELLANEOUS PUBLIC POLICY ISSUES 15. Scott E. Harrington and Greg Niehaus (1998), ‘Race, Redlining, and Automobile Insurance Prices’ 16. J. David Cummins, Richard D. Phillips and Mary A. Weiss (2001), ‘The Incentive Effects of No-Fault Automobile Insurance’ 17. Anthony J. Barkume and John W. Ruser (2001), ‘Deregulating Property-Casualty Insurance Pricing: The Case of Workers' Compensation’ 18. John H. Cochrane (1995), ‘Time-Consistent Health Insurance’ Name Index Volume II: Corporate Risk Management Acknowledgements An introduction by the editor to both volumes appears in Volume I PART I THEORY ON WHY AND HOW FIRMS MANAGE RISK 1. David Mayers and Clifford W. Smith, Jr. (1982), ‘On the Corporate Demand for Insurance’ 2. Clifford W. Smith and René M. Stulz (1985), ‘The Determinants of Firms’ Hedging Policies’ 3. Kenneth A. Froot, David S. Scharfstein and Jeremy C. Stein (1993), ‘Risk Management: Coordinating Corporate Investment and Financing Policies’ 4. Peter M. DeMarzo and Darrell Duffie (1995), ‘Corporate Incentives for Hedging and Hedge Accounting’ 5. Gregory W. Brown and Klaus Bjerre Toft (2002), ‘How Firms Should Hedge’ 6. Frank Fehle and Sergey Tsyplakov (2005), ‘Dynamic Risk Management: Theory and Evidence’ PART II EMPIRICAL EVIDENCE ON WHY AND HOW FIRMS MANAGE RISK 7. David Mayers and Clifford W. Smith, Jr. (1990), ‘On the Corporate Demand for Insurance: Evidence from the Reinsurance Market’ 8. Christopher Géczy, Bernadette A. Minton and Catherine Schrand (1997), ‘Why Firms Use Currency Derivatives’ 9. Michael Faulkender (2005), ‘Hedging or Market Timing? Selecting the Interest Rate Exposure of Corporate Debt’ 10. John R. Graham and Clifford W. Smith, Jr. (1999), ‘Tax Incentives to Hedge’ 11. George Allayannis and James P. Weston (2001), ‘The Use of Foreign Currency Derivatives and Firm Market Value’ 12. Peter Tufano (1996), ‘Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry’ 13. Yanbo Jin and Philippe Jorion (2006), ‘Firm Value and Hedging: Evidence from U.S. Oil and Gas Producers’ PART III MEASURING RISK AND ENTERPRISE RISK MANAGEMENT 14. Kevin Dowd and David Blake (2006), ‘After VaR: The Theory, Estimation, and Insurance Applications of Quantile-Based Risk Measures’ 15. Joshua V. Rosenberg and Til Schuermann (2006), ‘A General Approach to Integrated Risk Management with Skewed, Fat-tailed Risks’ 16. Scott E. Harrington, Greg Niehaus and Kenneth J. Risko (2002), ‘Enterprise Risk Management: The Case of United Grain Growers’ Name Index

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Book SynopsisRisk Management under UCITS III/IV shows how asset managers, fund administrators, management companies and risk departments can satisfy the various financial regulators, which govern European markets, that they have adequate risk monitoring procedures in place for the funds they manage or administer. The book explains all the requirements for risk management under the new UCITS III/IV regime, as well as the universe of financial instruments which can be used by portfolio managers, and identifies their associated risks and possible mitigation strategies. It is therefore required reading for anyone trying to fully understand and comply with UCITS III/IV requirements.Table of ContentsIntroduction xi Acknowledgements xv PART I. WHAT YOU HAVE TO KNOW ABOUT UCITS TO UCITS III 1 Chapter 1. UCITS to UCITS III 3 1.1. UCITS primer and market size 3 1.2. UCITS – a success story: from UCITS to UCITS III/IV 8 1.3. Conclusion – focus on risk management 26 Chapter 2. Risk Management History: From Banks to the Asset Management Industry 33 2.1. Insight on risk management 33 2.2. A Brief History of Risk Management 39 2.3. From Risk Management to Value-at-Risk 49 2.4. From Portfolio Theory and Capital Requirements to UCITS 60 Chapter 3. Definition of the Value-at-Risk 63 3.1. VaR calculation models 65 3.2. Monte Carlo simulation 83 3.3. Conclusion 92 PART II. UCITS RISK MANAGEMENT 95 Chapter 4. UCITS III Risk Management Process and Taxonomy of Risks 97 4.1. Risk manager’s role and responsibilities 97 4.2. Taxonomy of risks 98 Chapter 5. Risk Management Organization 103 5.1. Risk standards 104 5.2. Description of the risk management process (RMP) 113 5.3. UCITS risk management process 117 5.4. Disclosure requirements 122 5.5. CSSF 07/308 124 Chapter 6. Financial Derivative Instruments and UCITS 127 6.1. Swap 127 6.2. Contracts for difference 137 6.3. The forward contract 138 6.4. The futures contract 139 6.5. Options 141 6.6. Warrant 143 Chapter 7. Global Exposure and Leverage 145 7.1. Global exposure – overview 145 7.2. Sophisticated and non-sophisticated UCITS: is there a distinction? 148 7.3. Sophisticated and non-sophisticated UCITS: how to assess market risk/global exposure 150 Chapter 8. Stress Testing 163 8.1. Definition and overview of stress testing 163 8.2. Main approaches 166 8.3. Types of scenarios 167 8.4. Stress test scenarios 171 8.5. Scenario management/stress testing with PMS 174 Chapter 9. Backtesting 177 9.1. Overview 177 9.2. Back-testing may also reveal important limitations of VaR 183 9.3. Back testing with PMS 186 Chapter 10. Counterparty and Issuer Risk, Concentration Limits and Appropriate Cover 191 10.1. Counterparty risk 191 10.2. Issuer risk and concentration limits 196 10.3. Appropriate cover in the absence of cash-settlement 196 Chapter 11. Liquidity Risk 199 11.1. Overview 199 11.2. Assessing liquidity constraints 201 11.3. Estimation of portfolio liquidity based on historical market data 201 11.4. LVaR 206 Chapter 12. Other Risk Indicators that can be used in the Risk Management Process 209 12.1. Market risk 209 12.2. Interest rate risk 213 12.3. The case of Greeks for the options 218 12.4. Conclusion 223 Conclusion 225 Appendices 233 Bibliography 265 Index 271

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Book SynopsisInvestment Management for Insurers details all phases of the investment management process for insurers as well as fixed income instruments and derivatives and state-of-the-art analytical tools for valuing securities and measuring risk. Complete coverage includes: a general overview of issues, fixed income products, valuation, measuring and controlling interest rate risk, and equity portfolio management.Table of ContentsAbout the Editors. Preface. SECTION I: GENERAL ISSUES. 1. Risk Management by Insurers: An Analysis of the Process (D. Babbel and A. Saneomero). 2. Components of Insurance Firm Value, and the Present Value of Liabilities (D. Babbel). 3. A Performance Measurement System for Insurers (D. Babbel, et al.). 4. Asset Allocation for Property and Casualty Insurers (B. Tran). SECTION II: FIXED INCOME PRODUCTS. 5. Treasuries, Agency Debentures, Corporates, MTNs, Municipals, and Eurobonds (F. Fabozzi). 6. Mortgage-Backed Securities and Asset-Backed Securities (F. Fabozzi). 7. Interest Rate Derivatives (F. Fabozzi). 8. Credit Derivatives (M. Anson). 9. Catastrophe-Liked Securities (S. Ganapati, et al.). SECTION III: VALUATION. 10. Interest Rate Models (O. Cheyette). 11. The Four Faces of an Interest Rate Model (P. Fitton and J. McNatt). 12. Valuing Path-Dependent Securities: Some Numerical Examples (C. Howard). 13. Problems Encountered in Valuing Interest Rate Derivatives (Y. Pierides). 14. Speeding Up the Valuation Process (F. Albert, et al.). SECTION IV: MEASURING AND CONTROLLING INTEREST RATE RISK. 15. Fixed Income Risk (R. Kahn). 16. Term Structure Factor Models (R. Kuberek). 17. Effective and Ineffective Duration Measures for Life Insurers (D. Babbel). 18. Yield Curve Risk Management (R. Reitano). 19. Hedging Corporate Securities with Treasury and Derivatives Instruments (S. Ramamurthy). 20. Valuation and Portfolio Risk Management with Mortgage-Backed Securities (S. Zenios). 21. Hedging Mortgage Passthrough Securities (K. Dunn and R. Sella). 22. Portfolio Risk Management (H. Fong and O. Vasicek). 23. Measuring and Forecasting Yield Volatility (F. Fabozzi and W. Lee). SECTION V: EQUITY PORTFOLIO MANAGEMENT. 24. Investment Management: An Architecture for the Equity Market (B. Jacobs and K. Levy). 25. Investment Analysis: Profiting from a complex Equity Market (B. Jacobs and K. Levy). 26. The Use of Derivatives in Managing Equity Portfolios (R. Clarke, et al.). Index.

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Book SynopsisWHRE''S MY UMBRELLA: A CRASH COURSE IN CRISIS MANAGEMENT, combines the best of NEVER SAY NEVER with detailed analysis of recent crises - from the Madoff Scandal to Hurricane Sandy - and, with up-to-date best practices, crisis management expert Len Biegel makes the case that many crises can be prevented. Len, president of the communications counseling firm The Biegel Group, brings his deep experience in a wide range of crises and reputation challenges to WHERE''S MY UMBRELLA. From the Tylenol tampering to 9/11 to hurricanes and environmental crimes, he not only chronicles a host of wakeup calls but also tells what they mean.His client list has included General Electric, American Airlines, Hershey Foods, The Business Roundtable, the Israel Broadcasting Authority, and the North Atlantic Treaty Organization (NATO), and he has had a 20-year relationship with Royal Caribbean Cruises. He was formerly Senior Consultant for Fleishman Hillard, the head of the global crisis practice for Weber Shandwick and a senior executive with Burson Marsteller. An Emmy-winning television broadcaster, Len is a Senior Visiting Fellow with the Center for Risk Communication. Biegel and his wife, Roberta, live in the Washington, DC, area. They are the proud parents of two married sons and four grandchildren. Regardless of how respected or careful a company is, preparing for the possibility of a crisis is essential in today''s business world. WHERE''S MY UMBRELLA offers valuable insights that any business should want to hear and follow.Gary ShefferVice President of Communications and Public Affairs General Electric

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Book SynopsisWhen exploding health care costs threatened Serigraph's solvency, the CEO went outside the box to find a solution. John Torinus Jr. applied innovative, cutting-edge strategies to cut his health care expenses well below the national average while improving his employees' care.Now, across America, leading companies are following Serigraph's example. There is a revolution brewing. A revolution that will dramatically lower health costs nationwide.John Torinus Jr., author of The Company That Solved Health Care, the eye-opening book detailing one company's game-changing health care program, now presents The Grassroots Health Care Revolution. Featuring examples and interviews with the business leaders who are at the forefront of these innovations, The Grassroots Health Care Revolution is a game plan for improving workforce health and radically lowering health costs.Torinus avoids the politics of health care to focus on what businesses can actually control. He shows how pioneering corporations have engaged their employees to tame the hyper-inflation that has plagued the health care industry for decades. Executives in leading companies are deploying management disciplines and marketplace principles to invent a better business model for health care. These companies are bending the curve, growing profits and improving the health of their employees. Learn how you and your business can join the revolution.Trade Review"This is the playbook for employers who want to control costs while improving care for their employees. If enough employers followed suit, they'd change the market while getting better results for their employees and their companies."—Cheryl DeMars, CEO of The Alliance"As John Torinus points out, for most CEOs, healthcare is the second or third largest element of their cost structure – and generally the most under-managed significant cost. His new book lays out a three-year transition from unmanaged healthcare to a health system that provides dramatically improved participant health with dramatically reduced costs."—George Koenigsaecker, author of Leading The Lean Enterprise Transformation"In his new book, The Grassroots Health Care Revolution: How Companies Across America Are Dramatically Cutting Their Health Care Costs While Improving Care, John Torinus shows through his many interviews with employers and employees how a patient-centric model of reform is the solution to what ails our system. This book is a must-read."—Sally C. Pipes, President and CEO of the Pacific Research Institute and author of The Cure for Obamacare"Torinus succinctly explains how employers anywhere can offer great healthcare benefits at much less cost. This is a must-read for any leader struggling to manage their healthcare costs."—John Toussaint, CEO of ThedaCare Center for Healthcare Value

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Book SynopsisThis book examines the challenges for the life insurance sector in Europe arising from new technologies, socio-cultural and demographic trends, and the financial crisis. It presents theoretical and applied research in all areas related to life insurance products and markets, and explores future determinants of the insurance industry’s development by highlighting novel solutions in insurance supervision and trends in consumer protection. Drawing on their academic and practical expertise, the contributors identify problems relating to risk analysis and evaluation, demographic challenges, consumer protection, product distribution, mortality risk modeling, applications of life insurance in contemporary pension systems, financial stability and solvency of life insurers. They also examine the impact of population aging on life insurance markets and the role of digitalization. Lastly, based on an analysis of early experiences with the implementation of the Solvency II system, the book provides policy recommendations for the development of life insurance in Europe.Table of ContentsPart I - Market Picture and Development Challenges.- European Life Insurance Market – Analysis of Current Situation and Development Prospects.- Social Determinants of Life Insurance in the European Union.- The Challenges Faced by Life Insurance Companies in the Baltic States.- The Turkish Life Insurance Market – An Evaluation of the Current Situation and Future Challenges.- The Role Played by EIOPA in the Developments in the Insurance Sector European Consumer Protection Model.- A New Model of Investment Life Insurance Distribution in the Context of Consumer Protection EU Policy.- Analysis of Capital Requirements in Life Insurance Sector under Solvency II Regime – Evidence from Poland.- Part II - Innovations and Risk Analysis.- Longevity-Linked Annuities: How to Preserve Value Creation Against Longevity Risk.- Modelling the Life Expectancy of Elderly People for Life Insurance and Pension Systems.- The Challenges for Life Insurance Underwriting Caused by Changes in Demography and Digitalisation.- Innovation in Life Insurance: the Economic Landscape and the Insurance Distribution Directive.- Internet of Things (IoT): Considerations for Life Insurers.- Discussion of Reducing the Risk of Cancer in Life and Health Insurance.

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Book SynopsisThis book, the second one of three volumes, gives practical examples by a number of use cases showing how to take first steps in the digital journey of banks and insurance companies. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between. This second volume mainly emphasizes use cases as well as the methods and technologies applied to drive digital transformation (such as processes, leveraging computational power and machine learning models).Table of ContentsPart I. Use Cases. - Chapter 1. Use Case – Optimization of Regression Tests – Reduction of the Test Portfolio Through Representative Identification. - Chapter 2. Use Case – Nostro Accounts Match. - Chapter 3. Use Case – Fraud Detection Using Machine Learning Techniques. - Chapter 4. Use case – NFR – HR Risk. - Chapter 5. Sentiment Analysis for Reputational Risk Management. - Chapter 6. Use Case – NFR – Using GraphDB for Impact Graphs. - Part I. High-Performance Applications. - Chapter 7. Distributed Calculation Credit Portfolio Models. - Chapter 8. BSDS – Balance Sheet Dynamics Simulator. - Chapter 9. Dynamic Dashboards. - Chapter 10. High-Performance Applications. - Part III. Quantum Computing. - Chapter 11. Post-Quantum Secure Cryptographic Algorithms. - Chapter 12. Quantum Technologies. - Chapter 13. Categorical Quantum Theory. - Part IV. Process & Process Optimization. - Chapter 14. Processes in a Digital Environment. - Chapter 15. Process Mining. - Chapter 16. Hyperautomation (Automated Decision-Making as Part of RPA). - Chapter 17. RPA Use Case – “IFRS 9/SPPI”. - Part V. Open Source. - Chapter 18. Open-Source Software. - Part VI. Summary.

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Book SynopsisThis handbook offers a unique and original collection of analytical studies in Islamic economics and finance, and constitutes a humble addition to the literature on new economic thinking and global finance. The growing risks stemming from higher debt, slower growth, and limited room for policy maneuver raise concerns about the ability and propensity of modern economies to find effective solutions to chronic problems. It is important to understand the structural roots of inherent imbalance, persistence-in-error patterns, policy and governance failures, as well as moral and ethical failures. 　　　　 Admittedly, finance and economics have their own failures, with abstract theory bearing little relation with the real economy, uncertainties and vicissitudes of economic life. Economic research has certainly become more empirical despite, or perhaps because of, the lack of guidance from theory. The analytics of Islamic economics and finance may not differ from standard frameworks, methods, and techniques used in conventional economics, but may offer new perspectives on the making of financial crises, nature of credit cycles, roots of financial system instability, and determinants of income disparities. 　　　 The focus is placed on the logical coherence of Islamic economics and finance, properties of Islamic capital markets, workings of Islamic banking, pricing of Islamic financial instruments, and limits of debt financing, fiscal stimulus and conventional monetary policies, inter alia. Readers with investment, regulatory, and academic interests will find the body of analytical evidence to span many areas of economic inquiry, refuting thereby the false argument that given its religious tenets, Islamic economics is intrinsically narrative, descriptive and not amenable to testable implications. Thus, the handbook may contribute toward a redefinition of a dismal science in search for an elusive balance between rationality, ethics and morality, and toward a remodeling of economies based on risk sharing and prosperity for all humanity

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Book SynopsisEnvironmental sustainability is perhaps the key societal challenge of our times. Achieving it will require a significant level of financing and investment, and here the role of the banking industry is fundamental. Banks can play a broader and far-reaching role by adopting environmental concerns in their internal and external business operations. Principles of Green Banking is a comprehensive account of the different aspects of green banking and offers theories and principles as well as practical how-to guidelines to adopt green banking practices. This book discusses why green banking is central to achieving sustainable development. It illustrates the evolution of green banking around the world, different types of environmental risks created by firms and how these risks offer threats to sustain ability, and ongoing trends and patterns of green banking practice. Critically, it also presents an outline of the regulatory framework necessary to help the entire banking sector adapt to the change towards green banking. It is a valuable resource for financial sector professionals and scholars in the fields of sustainable finance and banking.Table of Contents 1. Introduction 2. ENVIRONMENTAL RISK, SUSTAINABILITY AND BANKING 3. TRENDS IN ENVIRONMENT FRIENDLY BANKING 4. GREEN BANKING: DEFINITION AND APPROACHES 5. THE NEED AND IMPACT OF GREEN BANKING 6. THE PRINCIPLES OF GREEN BANKING 7. GREEN BANKING INTERVENTION AND ADOPTION PROCESS 8. GREEN BANKING AND RISK MANAGEMENT 9. THE GREEN BANKING REGULATORY AND POLICY FRAMEWORK 10. FUTURE CHALLENGES AND WAY FORWARD

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Book SynopsisPost-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.

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Book SynopsisAs of early 2022, seven of the ten largest firms in the world by market capitalization had been funded through various types of entrepreneurial finance. This handbook provides an up-to-date survey of what we know about this significant phenomenon in all its forms, and where our knowledge about it needs to head from here. The handbook embraces a wide range of established and emerging academic and practitioner voices across the globe to explore the theoretical and practical flux and tension in the field. Until recently, most studies have taken a supply side perspective, focusing on the perspective of those who provide funding to new ventures. This book takes a different, demand side perspective, beginning with the entrepreneur and gradually broadening our view to include close by and then more distant funding sources. Following this approach, it is organized into four parts detailing the individual level (founders’ resources, bricolage and bootstrapping, effectuation and portfolio entrepreneurship); the inner circle (informal financing, business groups, incubators and accelerators); the wider world (formal debt, microfinance, venture capital, corporate venture capital, business angels, government funding and family offices); and emerging perspectives (non-Western perspectives, gender, indigenous perspectives, post-conflict and disaster zones and ethics). The introduction considers the general state of the field, while the conclusion takes on additional topics relevant to entrepreneurial finance, such as decentralized finance, big data, behavioral economics, financial innovation and COVID-19, as well as possible ways in which entrepreneurial finance can have a greater impact on other disciplines. This handbook will be a core reference work for researchers, practitioners, and policy makers seeking an up-to-date academic survey of entrepreneurial finance. It can also be used as a primary text in Ph.D. seminars in entrepreneurship, entrepreneurial finance, and finance. Instructors in Master’s level courses in entrepreneurial finance and venture capital will also find the book of benefit.

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Book SynopsisEnvironmental sustainability is perhaps the key societal challenge of our times. Achieving it will require a significant level of financing and investment, and here the role of the banking industry is fundamental. Banks can play a broader and far-reaching role by adopting environmental concerns in their internal and external business operations. Principles of Green Banking is a comprehensive account of the different aspects of green banking and offers theories and principles as well as practical how-to guidelines to adopt green banking practices. This book discusses why green banking is central to achieving sustainable development. It illustrates the evolution of green banking around the world, different types of environmental risks created by firms and how these risks offer threats to sustain ability, and ongoing trends and patterns of green banking practice. Critically, it also presents an outline of the regulatory framework necessary to help the entire banking sector adapt to the change towards green banking. It is a valuable resource for financial sector professionals and scholars in the fields of sustainable finance and banking.Table of Contents 1. Introduction 2. ENVIRONMENTAL RISK, SUSTAINABILITY AND BANKING 3. TRENDS IN ENVIRONMENT FRIENDLY BANKING 4. GREEN BANKING: DEFINITION AND APPROACHES 5. THE NEED AND IMPACT OF GREEN BANKING 6. THE PRINCIPLES OF GREEN BANKING 7. GREEN BANKING INTERVENTION AND ADOPTION PROCESS 8. GREEN BANKING AND RISK MANAGEMENT 9. THE GREEN BANKING REGULATORY AND POLICY FRAMEWORK 10. FUTURE CHALLENGES AND WAY FORWARD

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