Search results for "Guarantee"
showing 10 items of 57 documents
Asset and Liability Management for Insurance Products with Minimum Guarantees: The UK Case
2006
Abstract Modern insurance products are becoming increasingly complex, offering various guarantees, surrender options and bonus provisions. A case in point are the with-profits insurance policies offered by UK insurers. While these policies have been offered in some form for centuries, in recent years their structure and management have become substantially more involved. The products are particularly complicated due to the wide discretion they afford insurers in determining the bonuses policyholders receive. In this paper, we study the problem of an insurance firm attempting to structure the portfolio underlying its with-profits fund. The resulting optimization problem, a non-linear program…
Guaranteed error bounds and local indicators for adaptive solvers using stabilised space-time IgA approximations to parabolic problems
2019
The paper is concerned with space–time IgA approximations to parabolic initial–boundary value problems. We deduce guaranteed and fully computable error bounds adapted to special features of such type of approximations and investigate their efficiency. The derivation of error estimates is based on the analysis of the corresponding integral identity and exploits purely functional arguments in the maximal parabolic regularity setting. The estimates are valid for any approximation from the admissible (energy) class and do not contain mesh-dependent constants. They provide computable and fully guaranteed error bounds for the norms arising in stabilised space–time approximations. Furthermore, a p…
Insurance league: Italy vs. U.K
2003
Insurers are competing by adopting product innovations that provide the insured with integrated coverage for actuarial and financial risks. This article compares the contract structures of blended life policies between the insurance markets in Italy and the United Kingdom within the context of asset-liability management and welfare analysis. © Emerald Backfiles 2007.
Rank structured approximation method for quasi--periodic elliptic problems
2016
We consider an iteration method for solving an elliptic type boundary value problem $\mathcal{A} u=f$, where a positive definite operator $\mathcal{A}$ is generated by a quasi--periodic structure with rapidly changing coefficients (typical period is characterized by a small parameter $\epsilon$) . The method is based on using a simpler operator $\mathcal{A}_0$ (inversion of $\mathcal{A}_0$ is much simpler than inversion of $\mathcal{A}$), which can be viewed as a preconditioner for $\mathcal{A}$. We prove contraction of the iteration method and establish explicit estimates of the contraction factor $q$. Certainly the value of $q$ depends on the difference between $\mathcal{A}$ and $\mathcal…
Le droit à l’autodétermination du peuple palestinien
2016
The right of the Palestinian people to liberate themselves from foreign occupation in the name of the principle of self-determination has played, and is playing today, a central role in the resolution of the Arab-Israeli problem, representing a real catalyst principle in a process which, unfortunately, remains unfinished. The question today revolves around the fulfilment of an obligation to negotiate conventionally accepted by the parties, considered without alternative by the international community, but which in practice translates into a right of veto over the exercise of self-determination, contradicting the inalienable nature of this principle. Self-determination thus becomes negotiabl…
Evolución de la normativa de la investigación Biomédica en España
2018
The ratification by the Spanish State of the ?Oviedo Convention? in 1999 implies a commitment to adapt to the legislation on biomedicine, since the normative instruments that respect it: guarantee the rights and fundamental freedoms of all and ensure dignity and identity of human beings. The object of this paper is the analysis of the Spanish normative norm in the field of research in human beings.
Consumers in Information Technology Enabled Service Encounters: Perceptions and Tradeoffs in Multi-Channel Interactions
2015
This study examines information technology enabled, multi-channel service context from the end-user's perspective and, more specifically, from the perspective of a consumer, in particular the extent to which the multi-channel interaction experience results in consumer satisfaction and any tradeoffs that consumers make in the evaluation of the context of service. Empirical results from our online survey with mobile consumers indicate that the variables included in the model have a direct impact on consumer satisfaction when considered individually. There are, however, tradeoffs between variables (e.g., problem-handling and record accuracy; scalability and usability of service) when considere…
Service firm capabilities and performance: Contingent analysis of customer contact
2015
Abstract From the competence-based view, this study contributes to understanding how service firm capabilities affect firm performance. The study examines managerial capabilities, organizational capabilities, marketing capabilities, and service quality capabilities. This study investigates whether interaction between these capabilities and their contribution to firm performance differ depending on the service's customer-contact level. To do so, the study analyzes data from a sample of Spanish service firms. Results show that managerial and organizational capabilities strengthen service quality and marketing capabilities. In addition, service quality and marketing capabilities significantly …
Constitutional Perspective of the Guarantees of Application of Artificial Intelligence: the Inescapable Protection of Fundamental Rights
2020
espanolLa Inteligencia Artificial tiene un innegable efecto en la sociedad actual, por lo que su estudio respecto de sus efectos juridicos deviene necesario. Y, en consecuencia, el modo en que se ven afectados los derechos fundamentales tiene especial importancia. De ahi que en el presente trabajo se estudie la influencia de los algoritmos en la determinacion de las resoluciones judi-ciales, sobre todo desde el punto de vista de como afectaria esta cuestion al derecho a la tutela judicial efectiva, reconocida como derecho fundamental en el articulo 24 de la Constitucion espanola. EnglishArtificial Intelligence has an undeniable effect on today’s society, so its study regarding its legal eff…
The Role of Guarantees in support of Entrepreneurial Microcredit in Italy.
2016
This paper proposes an empirical analysis of the microcredit initiatives promoted by local and cooperative credit banks trying to take advantage of any differences in the initiatives promoted by other types of operators in terms of default rates of loans. The differences are analyzed on the basis of distinctive features to identify a possible way of developing microcredit in Italy. The empirical analysis verifies the existence of a statically significant correlation between characteristics of the entrepreneurial microcredit programs and their default risk. The presence of credit guarantee schemes and the role of banking intermediaries as promoters reduce significantly the risk of default on…