Research on Risk Assessment and Underwriting Decision Making Based on ARIMA Model

Addressing the critical challenge of extreme weather events, this study introduces a comprehensive model for enhancing insurance underwriting strategies through predictive analytics and risk assessment methodologies. Utilizing an integrated approach that combines Autoregressive Integrated Moving Average (ARIMA) for forecasting extreme weather occurrences, Fuzzy Comprehensive Evaluation for assessing regional payment capabilities, and Monte Carlo simulations for detailed risk quantification, the re-search aims to refine the insurance industry's capacity for anticipating and mitigating financial losses. A systematic clustering analysis further segments regions based on their risk profiles, allowing for tailored insurance premium settings and underwriting decisions. Findings from the application of this model across diverse geographical areas underscore the potential for significantly im-proved risk management and economic resilience in the insurance sector. Through detailed statistical analysis and predictive modeling, the study demonstrates the importance of advanced analytical frameworks in adapting to the evolving dynamics of climate risk.

Authors

Institutions

Publication Details

Journal
Transactions on Computer Science and Intelligent Systems Research
Published
2024-08-12
DOI
https://doi.org/10.62051/0eqdm845
Primary Topic
Insurance and Financial Risk Management
Type
article
Field-Weighted Citation Impact
0.00
Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Research on Risk Assessment and Underwriting Decision Making Based on ARIMA Model

G. Liu
Transactions on Computer Science and Intelligent Systems Research
Insurance and Financial Risk Management
article

Research on Risk Assessment and Underwriting Decision Making Based on ARIMA Model

G. Liu
article en

Abstract

Addressing the critical challenge of extreme weather events, this study introduces a comprehensive model for enhancing insurance underwriting strategies through predictive analytics and risk assessment methodologies. Utilizing an integrated approach that combines Autoregressive Integrated Moving Average (ARIMA) for forecasting extreme weather occurrences, Fuzzy Comprehensive Evaluation for assessing regional payment capabilities, and Monte Carlo simulations for detailed risk quantification, the re-search aims to refine the insurance industry's capacity for anticipating and mitigating financial losses. A systematic clustering analysis further segments regions based on their risk profiles, allowing for tailored insurance premium settings and underwriting decisions. Findings from the application of this model across diverse geographical areas underscore the potential for significantly im-proved risk management and economic resilience in the insurance sector. Through detailed statistical analysis and predictive modeling, the study demonstrates the importance of advanced analytical frameworks in adapting to the evolving dynamics of climate risk.

Transactions on Computer Science and Intelligent Systems ResearchVol. 5
University of Macau (MO)
Climate action
Openalex Percentile: Top 84%
Insurance and Financial Risk Management
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.