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Full-Text Articles in Insurance

Measuring Quality In Diabetes Care: An Expert-Based Statistical Approach, Dimitris Bertsimas, David Czerwinski, Michael Kane Jan 2013

Measuring Quality In Diabetes Care: An Expert-Based Statistical Approach, Dimitris Bertsimas, David Czerwinski, Michael Kane

Faculty Publications

We present a methodology for using health insurance claims data to monitor quality of care. The method uses a statistical model trained on the quality ratings of a medical expert. In a pilot study, the expert rated the quality of care received over the course of two years by 101 diabetes patients. A logistic regression model accurately identified the quality of care for 86% of the patients. Because the model uses data derived from patients’ health insurance claims it can be used to monitor the care being received by a large patient population. One important use of the model is ...


Why It Managers Don't Go For Cyber-Insurance Products, Tridib Bandyopadhyay, Vijay S. Mookerjee, Ram C. Rao Nov 2009

Why It Managers Don't Go For Cyber-Insurance Products, Tridib Bandyopadhyay, Vijay S. Mookerjee, Ram C. Rao

Faculty Publications

Despite positive expectations, cyber-insurance products have failed to take center stage in the management of IT security risk. Market inexperience, leading to conservatism in pricing cyber-insurance instruments, is often cited as the primary reason for the limited growth of the cyber-insurance market. In contrast, here we provide a demand-side explanation for why cyber-insurance products have not lived up to their initial expectations. We highlight the presence of information asymmetry between customers and providers, showing how it leads to overpricing cyber-insurance contracts and helps explain why cyber insurance might have failed to deliver its promise as a cornerstone of IT security-management ...


Is Exchange Risk Priced Beyond Intertemporal Risk?, Ines Chaieb, Stefano Mazzoto, Oumar Sy Mar 2005

Is Exchange Risk Priced Beyond Intertemporal Risk?, Ines Chaieb, Stefano Mazzoto, Oumar Sy

Faculty Publications

Recent conditional tests show that exchange risk is priced in integrated international markets. However, these results are typically obtained assuming that intertemporal risk does not matter. We test an intertemporal international asset-pricing model where the investment opportunity set is dynamic. Using a conditional orthogonalization approach, we investigate whether the exchange risk is priced once the market and intertemporal risks are fully taken into account. We find that, in addition to the market and intertemporal risks, the exchange risk is an important determinant of risk premium. We also find that the intertemporal risk, which is often overlooked in the literature, is ...


The Coexistence Of Multiple Distribution Systems For Financial Services: The Case Of Property-Liability Insurance, Allen N. Berger, J. David Cummins, Mary A. Weiss Oct 1997

The Coexistence Of Multiple Distribution Systems For Financial Services: The Case Of Property-Liability Insurance, Allen N. Berger, J. David Cummins, Mary A. Weiss

Faculty Publications

Property-liability insurance is distributed through a direct-writer system, where agents represent one insurer, and an independent- agency system, where agents represent several insurers. Independent-agency insurers have higher costs than direct writers. The market- imperfections hypothesis attributes the coexistence of the two types of insurers to impediments to competition, while the product-quality hypothesis holds that independent-agency insurers provide higher-quality services. We measure cost efficiency and profit efficiency for property-liability insurers and find strong support for the product-quality hypothesis, implying that independent-agency insurers produce higher-quality outputs and are compensated by higher revenues.


Privatize Deposit Insurance, Jeffrey Rogers Hummel Jul 1989

Privatize Deposit Insurance, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.