no code implementations • 2 Aug 2023 • Wing Fung Chong, Daniel Linders, Zhiyu Quan, Linfeng Zhang
In the current market practice, many cyber insurance products offer a coverage bundle for losses arising from various types of incidents, such as data breaches and ransomware attacks, and the coverage for each incident type comes with a separate limit and deductible.
no code implementations • 15 Mar 2023 • Kenneth Tsz Hin Ng, Wing Fung Chong
This paper revisits the optimal investment problem for the worker during the accumulation phase in the defined contribution pension scheme, via the forward preferences, in which an environment-adapting strategy is able to hold optimality and time-consistency together.
no code implementations • 17 May 2022 • Wing Fung Chong, Runhuan Feng, Hins Hu, Linfeng Zhang
This framework is demonstrated by a case study based on a historical cyber incident dataset, which shows that a comprehensive cost-benefit analysis is necessary for a budget-constrained company with competing objectives for cyber risk management.
no code implementations • 7 Jul 2021 • Wing Fung Chong, Haoen Cui, YuXuan Li
This paper proposes a two-phase deep reinforcement learning approach, for hedging variable annuity contracts with both GMMB and GMDB riders, which can address model miscalibration in Black-Scholes financial and constant force of mortality actuarial market environments.
no code implementations • 6 Dec 2020 • Xiaowei Chen, Wing Fung Chong, Runhuan Feng, Linfeng Zhang
Repeated history of pandemics, such as SARS, H1N1, Ebola, Zika, and COVID-19, has shown that pandemic risk is inevitable.
no code implementations • 3 Jul 2018 • Wing Fung Chong, Gechun Liang
This paper studies robust forward investment and consumption preferences within a zero-volatility context.