scholarly journals A Development on a Predictive Model for Buying Unemployment Insurance Program Based on Public Data

2017 ◽  
Vol 2 (2) ◽  
pp. 17-31
Author(s):  
조민수 ◽  
Kidae Kim ◽  
Kwangyong Kim ◽  
Chungsik Jeong ◽  
DOHYEON KIM ◽  
...  
Keyword(s):  
Predictive Model ◽  
Unemployment Insurance ◽  
Insurance Program ◽  
Public Data

scholarly journals Distributive Consequences of Risk Privatization: The Case of the Swedish Unemployment Insurance System

2020 ◽  
Vol 66 (3) ◽  
pp. 207-235
Author(s):  
Jayeon Lindellee
Keyword(s):  
Unemployment Insurance ◽  
Unemployment Benefit ◽  
Income Loss ◽  
The Public ◽  
Insurance Benefit ◽  
Insurance Program ◽  
Unemployment Insurance Benefit ◽  
Income Insurance ◽  
Unemployment Insurance System ◽  
Retail Workers

Abstract The public unemployment insurance program in Sweden has retrenched in terms of its benefit generosity in the last three decades. As a response to this trend, in which an ever-smaller proportion of the previous income of unemployed persons is compensated by public unemployment insurance benefit, complementary income insurance schemes provided by unions have expanded rapidly in the last 15 years, currently covering one half of the working population. What does this change mean for people who need income protection upon unemployment and are more likely to find themselves unemployed or underemployed? By analyzing survey-based benefit recipiency data among retail workers who were unemployed in 2014, this article explores the outcomes of the multi-pillarized unemployment benefit provision system in Sweden. While public unemployment insurance benefit does not fully compensate for the income loss for the majority of retail workers, the promise of a complementary income insurance scheme seems to be illusory for many individuals as they repeatedly oscillate between precarious work and benefits, accompanied by the burden of navigating a complex system.

PRICING OF UNEMPLOYMENT INSURANCE PRODUCTS WITH DOUBLY STOCHASTIC MARKOV CHAINS

2012 ◽  
Vol 15 (04) ◽  
pp. 1250025 ◽  
Author(s):  
FRANCESCA BIAGINI ◽  
JAN WIDENMANN
Keyword(s):  
Markov Chain ◽  
Unemployment Insurance ◽  
Private Insurance ◽  
General Setting ◽  
Simple Assumption ◽  
Doubly Stochastic ◽  
Numéraire Portfolio ◽  
Public Data ◽  
Benchmark Approach ◽  
Numeraire Portfolio

This paper provides a new approach for modeling and calculating premiums for unemployment insurance products. The innovative modeling concept consists of combining the benchmark approach with its real-world pricing formula and Markov chain techniques in a doubly stochastic setting. We describe individual insurance claims based on a special type of unemployment insurance contracts, which are offered on the private insurance market. The pricing formulas are first given in a general setting and then specified under the assumption that the individual employment-unemployment process of an employee follows a time-homogeneous doubly stochastic Markov chain. In this framework, formulas for the premiums are provided depending on the ℙ-numéraire portfolio of the benchmark approach. Under a simple assumption on the ℙ-numéraire portfolio, the model is tested on its sensitivities to several parameters. With the same specification the model's employment and unemployment intensities are estimated on public data of the Federal Employment Office in Germany.

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