Global Reinsurance Masterclass series: 1. Re-think reinsurance

At the end of 2009 the reinsurance industry was a confident and optimistic one. A succession of major natural disasters during 2010, however, rocked the industry and since then both competition and regulation have intensified. In this first masterclass of a series of seven, we analyse the current state of the reinsurance industry and suggest strategic responses to the current competitive climate.

Updated: 22/11/2014
Comments: 2
Views: 2,982

Anthropomorphic animal mascots in advertising - how do consumers respond?

This research investigates how consumers respond to anthropomorphic portrayals of animal mascots in marketing. This is the first study that empirically examines responses to anthropomorphic animal imagery, and provides insights into how and why people might respond more favourably to anthropomorphic portrayals of animals compared with non-anthropomorphic portrayals of animals.

Updated: 22/11/2014
Comments: 56
Views: 4,830

The Second Face of Appropriability: Generative Appropriability and its determinants

Author(s):

Gautam Ahuja

 et al.

How firms appropriate value from their inventions is the basis of this research. By introducing the construct of generative appropriability, this paper sheds light on the theoretical and managerial importance of recognising that any invention creates two values - the value of the article itself, and the value relating to its potential for development.

Updated: 19/11/2014
Comments: 61
Views: 3,558

UK longevity: are we fit enough to face the future?

Author(s):

Les Mayhew

Topic:
Finance

Longevity risk posed by an ageing population is one of the greatest challenges facing the financial services sector in the UK. In the fifth of the 2013 series of The Nicholas Barbon Insurance Lectures, Cass Business School Professor Les Mayhew addressed this issue.

Updated: 09/07/2013
Comments:
Views: 1,368

The REF: an effective tool, or does it inhibit creativity?

Amanda Goodall, Senior Lecturer in Management at Cass, debates the merits or otherwise of the Research Excellence Framework (REF) with her husband Andrew Oswald, professor of economics at the University of Warwick.

Updated: 21/11/2014
Comments: 3
Views: 1,431

Double Chain Ladder, Claims Development Inflation and Zero Claims

Our previous academic research into Double Chain Ladder demonstrated how the classical chain ladder technique can be broken down into separate components. In this paper, we continue our investigation of the double chain ladder, and illustrate a simple way to include prior knowledge of severity inflation and future zero claims into the framework of the model.

Updated: 19/11/2014
Comments: 3
Views: 2,076

Prediction of RBNS and IBNR claims using claim amounts and claim counts

Author(s):

Richard Verrall

 et al.

This paper proposes a stochastic model for loss reserving based on incremental reported claim numbers and paid amounts, and which serves to predict Reported But Not Settled (RBNS) and Incurred But Not Reported (IBNR) claims separately. The paper takes the approach of building a model for aggregate paid claims from basic principles at the level of individual data. The research suggests that the use of the aggregated counts data can improve reserving accuracy.

Updated: 19/11/2014
Comments: 2
Views: 2,394

Cass and Unigestion - Private Equity & Investment Management briefing - 1 May 2013

As a result of the recently established collaboration between Unigestion, the boutique Swiss Asset Management and Cass Business School's Centre for Asset Management (CAMR), this Breakfast Briefing Series is an opportunity for the academic world and the investment management world to discuss and debate investment methods and techniques, in theory and in practice.

Updated: 19/11/2014
Comments: 3
Views: 1,567

Double Chain Ladder

Author(s):

María Miranda

 et al.

This paper presents an extension to the model for forecasting outstanding claims liabilities, formulated by Verrall et al. (2010). The resulting model is closely related to the chain ladder method. So close in fact, it is possible to produce exactly the same results, if a particular choice is made about the way the estimates are obtained. This raises the question of why a new method is necessary. This research puts forward several answers.

Updated: 20/11/2014
Comments: 5
Views: 5,123