Fund support for the research project FAIR
“Actuarial mathematical modelling adapted to the individual's juridical status”, in Danish abbreviated FAIR, is a new research project that has received support from the Foundation Fynske Købstæders Fond.
It is Mogens Steffensen and Christian Furrer from the department's section Insurance and Economics who, possibly together with a junior researcher, will uncover a number of actuarial research questions.
They will conduct research in the borderland between, on the one hand, increasingly data-driven and fine-grained statistical methodology for, among other things, individual pricing of insurance contracts, and, on the other hand, legal and ethical aspects of (and regulatory requirements for) e.g. equal treatment and data protection.
"In short, we want to investigate how to mathematically make the best use of your data, taking into account equal treatment and data protection," explains Christian Furrer. "In continuation of this, we can also discuss what actually is appropriate law, so that the project also influences how regulatory requirements are best formulated".
The study requires the development of a new mathematical theory based on mathematical modelling of the above terms.
The project's financial framework is approx. DKK 300,000, which is evenly distributed between contributions from the Department of Mathematical Sciences and the Foundation Fynske Købstæders Fond. The framework includes salaries and expenses related to longer research stays, invitation of scientific guests and participation in international conferences. The project runs from July 2022 to December 2023.