scholarly journals An optimal reinsurance simulation model for non-life insurance in the Solvency II framework

2021 ◽  
Author(s):  
Alberto Zanotto ◽  
Gian Paolo Clemente
Keyword(s):  
Simulation Model ◽  
Life Insurance ◽  
Pareto Frontier ◽  
Solvency Ii ◽  
Portfolio Performance ◽  
Multi Objective Optimization ◽  
Optimal Reinsurance ◽  
Solvency Ratio ◽  
Selection Of

AbstractIn this paper, we propose an approach to explore reinsurance optimization for a non-life multi-line insurer through a simulation model that combines alternative reinsurance treaties. Based on the Solvency II framework, the model maximises both solvency ratio and portfolio performance under user-defined constraints. Data visualisation helps understanding the numerical results and, together with the concept of the Pareto frontier, supports the selection of the optimal reinsurance program. We show in the case study that the methodology can be easily restructured to deal with multi-objective optimization, and, finally, the selected programs from each proposed problem are compared.

scholarly journals A Case Study of Timeliness in the Selection of Risk-Efficient Machinery Complements

1990 ◽  
Vol 22 (2) ◽  
pp. 165-177 ◽  
Author(s):  
Michael E. Wetzstein ◽  
Wesley N. Musser ◽  
Ronald W. McClendon ◽  
David M. Edwards
Keyword(s):  
Soil Moisture ◽  
Simulation Model ◽  
Stochastic Simulation ◽  
Coastal Plain ◽  
Stochastic Dominance ◽  
Probability Distributions ◽  
Stochastic Simulation Model ◽  
Southeastern Coastal Plain ◽  
Selection Of

Abstract The importance of timeliness is investigated in the selection of machinery complements for double-crop wheat and soybean production in the southeastern coastal plain. An intertemporal stochastic simulation model was developed to generate probability distributions that were evaluated with stochastic dominance analysis. This research investigated the importance of intertemporal production linkages and inadequate soil moisture on machinery selection. Failure to include these dimensions can result in erroneous machinery choices.

Decomposition-Based Multi-Objective Optimization of Energy Noise Trade-Off in a Wind Farm

2018 ◽  
pp. 177-205
Author(s):  
Prateek Mittal ◽  
Kishalay Mitra
Keyword(s):  
Alternative Energy ◽  
Wind Farm ◽  
Pareto Frontier ◽  
Multi Objective Optimization ◽  
Multi Objective ◽  
Additional Information ◽  
Gradient Based ◽  
Standards And Guidelines ◽  
Hybrid Methodology

A multi-objective optimization case study of maximization and minimization of energy generation and noise propagation is considered here. A novel hybrid methodology, as a combination of probabilistic variable decomposed multi-objective evolutionary algorithm (VdRBNSGA-II) and the newly developed deterministic gradient based Pareto frontier construction approach (nD-NNC), has been proposed to determine the optimum layout of turbines (numbers and locations) inside a wind farm. In contrast to previous case studies, the proposed approach is able to yield the alternative energy-noise solutions along with the additional information on corresponding turbine layouts (numbers and locations) on a single Pareto front. As a result, it provides a decision maker with an ample of choices to choose from different competing solutions based on the existing standards and guidelines.

scholarly journals A multi-optimization model for the design of hydrogen supply chains

2020 ◽  
Vol 194 ◽  
pp. 02028
Author(s):  
Miao Li ◽  
, Baolian Yi ◽  
Pingwen Ming ◽  
Danmin Xing ◽  
Changfu Liu
Keyword(s):  
Hydrogen Production ◽  
Development Planning ◽  
Emissions Reduction ◽  
Multi Objective Optimization ◽  
Policy Makers ◽  
Design Models ◽  
Hydrogen Supply ◽  
Hydrogen Supply Chain ◽  
Selection Of

This paper presents a multi-objective optimization models which operating as time processes (2025-2035) for the design of hydrogen supply chain. The feasibility of the models are illustrated through a detail case study of Dalian, China. Furthermore, the case is evaluated with the total daily costs and CO2 emissions reduction constraints. The results show that with the increase of hydrogen demand, considering the environmental factors, SMR are mostly applied in hydrogen production link. Shahekou and Pulandian grids are suitable for the constructions of hydrogen production units. Tank trucks are the main modes of hydrogen transportation. The proposed design models can provide policy-makers with the selection of infrastructures pathways for strategic dynamic hydrogen development planning.

scholarly journals A Bridge between Local GAAP and Solvency II Frameworks to Quantify Capital Requirement for Demographic Risk

Risks ◽  
2021 ◽  
Vol 9 (10) ◽  
pp. 175
Author(s):  
Gian Paolo Clemente ◽  
Francesco Della Corte ◽  
Nino Savelli
Keyword(s):  
Life Insurance ◽  
Random Variable ◽  
Mortality Rates ◽  
Solvency Ii ◽  
Capital Requirement ◽  
Insurance Contracts ◽  
Financial Conditions ◽  
Accounting Principles ◽  
Demographic Risk

The aim of this paper is to provide a stochastic model useful for assessing the capital requirement for demographic risk in a framework coherent with the Solvency II Directive. The model extends to the market consistent context classical methodologies developed in a local accounting framework. The random variable demographic profit, defined in literatue under local accounting principles, is indeed analysed in a Solvency II framework. We provide a unique formulation for different non-participating life insurance contracts and we prove analytically that the valuation of demographic profit can be significantly affected by the financial conditions in the market. Regarding this topic, we implement the Vašíček model to add randomness to risk-free rates. A case study has also been developed considering a portfolio of life insurance contracts. Results prove the effectiveness of the model in highlighting the main drivers of capital requirement evaluation (e.g., the volatility of both mortality rates and risk-free rates), also compared to the local GAAP framework.

Multi-Objective Optimization Technique Applied to Preliminary Design of a Tanker

2008 ◽  
Author(s):  
Marcelo R. Martins ◽  
Diego F. S. Burgos
Keyword(s):  
Genetic Algorithm ◽  
Early Stage ◽  
Optimization Technique ◽  
Pareto Frontier ◽  
Design Parameters ◽  
Preliminary Design ◽  
Multi Objective Optimization ◽  
Total Cost ◽  
Rational Process

This paper shows one rational process of selecting the optimal dimensions and coefficients of form of tankers using the technique of genetic algorithm in the early stage of design. Two objective attributes are used to evaluate each design: Total Cost and Mean Oil Outflow. It is proposed a procedure to balance the designs in weight and useful space and assesses their feasibility. A genetic algorithm is implemented to search optimal design parameters and identify the non-dominated Pareto frontier. A real Suezmax vessel is used as case study.

Topik-Topik Komunikasi Dakwah Dalam Mesej Akidah Kepada Masyarakat Orang Asli di Selangor

Sains Insani ◽  
2018 ◽  
Vol 3 (2) ◽  
pp. 15-21
Author(s):  
Zulkefli Aini ◽  
Abdul Ghafar Don ◽  
Ahmad Irdha Mokhtar ◽  
Nur Uswah Ahmad Fauzi
Keyword(s):  
Qualitative Study ◽  
Study Design ◽  
Verbal Feedback ◽  
Structured Interviews ◽  
Orang Asli ◽  
Case Study Design ◽  
Beliefs And Practice ◽  
Islamic Faith ◽  
Selection Of

One of the factors that can affect a person's behavior is a communication message. In the context of the da`wah, preachers who involved actively in da`wah communication with the Orang Asli should be able to ensure that the message conveyed can be understood by the target group. In addition, the selection of the correct messages of da`wah based on the foremost priority simplify the process of sharing information between the preachers and the Orang Asli. Accordingly, this article aims to identify specific topics of Islamic faith (akidah) submitted by the Orang Asli in the process of da`wah communication and to identify verbal feedback given by the preachers to the Orang Asli of the topics. This qualitative study using case study design and data was collected through semi-structured interviews. Interviews involving nine preachers were active in da`wah activity to the Orang Asli community in Selangor. Data were analyzed thematically according to the specified objectives. The study found that the topics frequently raised by the Orang Asli is concerned about belief in Allah, belief in Malaikat, and belief in Qada' and Qadar. The topics may be found within the framework of worldview in their beliefs and practice of ancient traditions. Therefore, the preachers gave verbal feedback on these topics is based on a clear and precise sample corresponding to the level of their thinking. The emphasis on these topics is very important to strengthen and purify the faith of the community.Keywords: Communication; Message; Preacher; Indigenous community Abstrak: Elemen mesej dalam komunikasi merupakan salah satu faktor yang dapat memberi kesan terhadap perubahan tingkah laku seseorang. Dalam konteks dakwah, pendakwah yang terlibat dalam proses komunikasi dakwah dengan Orang Asli seharusnya berkebolehan memastikan kandungan mesej yang disampaikan boleh difahami oleh sasaran dakwahnya. Di samping itu, pemilihan mesej dakwah yang betul mengikut keutamaan memudahkan proses perkongsian maklumat antara pendakwah dengan Orang Asli. Sehubungan dengan itu, artikel ini bertujuan untuk mengenalpasti topik-topik tertentu dalam mesej akidah yang dikemukakan oleh masyarakat Orang Asli kepada pendakwah dan mengenalpasti maklum balas lisan yang diberikan oleh pendakwah kepada Orang Asli terhadap topik tersebut. Kajian kualitatif ini menggunakan reka bentuk kajian kes dengan pengumpulan data melalui temu bual separa struktur. Temu bual melibatkan sembilan orang pendakwah yang aktif dalam aktiviti dakwah masyarakat Orang Asli di Selangor. Data kajian dianalisis secara tematik mengikut objektif yang ditentukan. Kajian ini mendapati bahawa topik-topik yang sering dikemukan oleh Orang Asli kepada pendakwah dalam penyampaian mesej akidah ialah berkenaan tentang keimanan kepada Allah SWT, keimanan kepada malaikat, dan keimanan kepada qada’ dan qadar. Topik-topik berkenaan didapati berada dalam kerangka worldview kepercayaan dan amalan tradisi mereka. Sehubungan dengan itu, pendakwah memberikan maklum balas lisan terhadap topik-topik tersebut adalah berdasarkan keterangan yang jelas dan contoh yang tepat bersesuaian dengan tahap pemikiran mereka. Penekanan terhadap topik-topik tersebut merupakan perkara yang penting dalam rangka mengukuhkan dan memurnikan akidah masyarakat Orang Asli.Kata kunci: Komunikasi; Mesej; Pendakwah; Komuniti Orang Asli

Sensitivity Analysis and Selection of Check Index of Signal Intersection Simulation Model Based on VISSIM

2019 ◽  
Vol 2 (5) ◽  
Author(s):  
Mengda Zhang ◽  
Chenjing Zhou ◽  
Tian-tian Zhang ◽  
Yan Han
Keyword(s):  
Sensitivity Analysis ◽  
Simulation Model ◽  
Optimal Process ◽  
Parameter Calibration ◽  
Index Set ◽  
The Core ◽  
Core Module ◽  
Simulation Parameter ◽  
Simulation Parameters ◽  
Selection Of

Selecting check index quantitatively is the core of the calibration of micro traffic simulation parameters at signal intersection. Five indexes in the node (intersection) module of VISSIM were selected as the check index set. Twelve simulation parameters in the core module were selected as the simulation parameters set. Optimal process of parameter calibration was proposed and model of the intersection of Huangcun west street and Xinghua street in Beijing was built in VISSIM to verify it. The sensitivity analysis between each check index and simulation parameter in their own set was conducted respectively. Sensitive parameter sets of different check indices were obtained and compared. The results show that different indexes have different size of set, and average vehicle delay's is maximum, so it's necessary to select index quantitatively. The results can provide references for scientific selection of the check indexes and improve the study efficiency of parameter calibration.

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