With the University of Ulm and the ifa Ulm, Ulm is an internationally leading center in actuarial science and its applications with a high degree of integration of education/training, research and its application.
Traditionally, in economics one considers utility maximizing economic agents. The results provide insight on how consumers should behave. In practice, however, human decisions are influenced by numerous behavioral patterns that result in a deviation betwe
Typical pension funds with multiple cohorts disconnect the generational contribution and the generational benefit. On the one hand, the individual right is unclear in such a collective design, and on the other hand, the fund might encounter the endogenous
Surrender poses one of the major risks to life insurance and a sound modeling of its true probability has direct implication on the risk capital demanded by the Solvency II directive. We add to the existing literature by performing extensive experiments t
We want to present a machine learning application in life insurance. We are analyzing lapse rates using data from an international life insurance company. An adequate lapse model is crucial to manage the assets and liabilities and to fulfil solvency requi