We have developed a new pricing and scoring application for a large insurance company’s car insurance products. The business logic of this application is entirely expressed in an OWL ontology and SWRL rules. The ontology and rules are not merely documentation or a specification of the application, they form the business logic of the application. In other words the application is ontology-centri...

The analytic innovation is treating life's end as uncertain, and life expectancy as partly the product of individuals' efforts to self-protect against mortality and morbidity risks. The demand for self-protection is modeled in a stochastic, life-cycle framework under alternative insurance options. The model helps explain the trend and systematic diversity in life expectancies across different p...

In manufacturing the interaction between the design of a product and the process to manufacture this product is studied in detail. Consider for example Material Requirements Planning (MRP), which is mainly driven by the Bill-Of-Material (BOM). For information-intensive products such as insurance, loans, permits, and many other services, the relationship with the supporting workjlow process is o...

This article estimates the effect of labor-market concentration on labor compensation across US private sector since 2000. The authors distinguish between in local markets and product while guarding against bias from confounded product-market concentration. analysis extends beyond wages to rates employment-based health insurance coverage. Reported results suggest negative effects compensation. ...

People exercising mental accounting have an additional motive for buying insurance. They perceive a risk of having insu cient funds available to self-insure. In this way insurance protects the consumption value of the insured asset beyond the expenditure to acquire/replace it. This complements previous approaches based on probability weighting and loss aversion to explain the high pro tability ...

This paper describes a hierarchical neural network we propose for sentence classification to extract product information from product documents. The network classifies each sentence in a document into attribute and condition classes on the basis of word sequences and sentence sequences in the document. Experimental results showed the method using the proposed network significantly outperformed ...

Does a robot producer, owner or user need insurance policy? What kind of risks derive from the use of robots? Are there any differences between insuring a robot and another product? And finally, who should bear the burden of paying the insurance premium? The objective of this article is to provide the reader with an overview on the issue of risk management of robotic applications through insura...

In manufacturing the interaction between the design of a product and the process to manufacture this product is studied in detail. Consider for example Material Requirements Planning (MRP), which is mainly driven by the Bill-Of-Material (BOM). For information-intensive products such as insurance, loans, permits, and many other services, the relationship with the supporting workflow process is o...

In spite of strong theoretical reasons to believe in the welfare-enhancing value of microinsurance products, demand for such products to date has been disappointingly low across a range of developing countries. In this paper we investigate the role of trust in the demand for indemnity insurance. First, we develop a theoretical model of insurance demand under limited trust to derive predictions ...

The German direct insurer Gothaer Insurance Group is among the largest insurance companies in Germany. In recent years, Gothaer was facing the challenge of replacing its existing collection systems. The replacement system was one of SAP’s key modules for Insurance Solution, a standard software product called FS-CD (Financial Services Collections and Disbursements). The first stage of the projec...