Business planning for a profit-seeking insurer under deficiency of information
Vsevolod K. Malinovskii
Insurance: Mathematics and Economics, 2015, vol. 62, issue C, 215-226
This paper aims to model a profit-seeking firm in a regulated competitive insurance market in an epoch when future annual market prices become poorly predictable. It occurs when more and more non-antagonistic contenders cut their prices seeking for individual success. It aggravates randomness pertaining to insurance casualties. This paper deals with multi-year control strategy of a profit-seeking insurer aiming in this epoch to comply each year with legal solvency requirements, to keep its portfolio size more or less stable, and to keep business attractive for investments.
Keywords: Competitive insurance; Business planning; Complex reflexive system; Underwriting cycle; Unpredictable market price; Collective risk with migration; ERS-analysis (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:insuma:v:62:y:2015:i:c:p:215-226
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