讲座题目：In Insurer Risk-prediction Accuracy and Consumer Search Behavior
主讲人：曾燕 教授
主持人：危佳钦 教授
开始时间：2025-04-10 09:00
讲座地址：腾讯会议号：584 980 839 密码：831076
主办单位：统计学院
报告人简介：
曾燕，中山大学岭南学院教授、博士生导师，其主要研究领域包括数字经济、数字（普惠）金融、金融工程、风险管理与保险精算，国家级青年人才、国家社科基金重大项目“数字普惠金融的创新、风险与监管研究”的首席专家、爱思唯尔中国高被引学者（2020、2021、2022、2023应用经济学）。主持了国家自科面上项目等10余项课题；在本领域著名期刊Journal of Economic Dynamics and Control、Insurance: Mathematics and Economics、Annals of Operations Research、IEEE Systems Journal、《经济研究》《管理科学学报》等上发表学术论文90余篇，其中SCI/SSCI收录40余篇；出版7本学术著作；研究成果获得第八届高等学校科学研究优秀成果奖（人文社会科学）二等奖（部级）、广东省哲学社科优秀成果一等奖（省级）、第七届高等学校科学研究优秀成果三等奖（部级）、中国人保部社会保障论坛征文三等奖（部级）等；10余份政策咨询报告获得正国级领导等批示或被中办和省委办公厅采用供有关领导参阅。
报告内容：
This paper develops a theoretical framework to study the technology race in the insurance market. Specifically, we consider a representative customer with a private risk type search among two groups of insurers for insurance coverage —frontier and laggard insurers who are different in the accuracy of their risk-prediction technology. A sequential search setting is considered. That is, the customer pays search costs to learn the products of insurers before making her buying decisions. The customer’s optimal search strategy features a cutoff risk type such that the customer chooses frontier (resp. laggard) insurers for search and buying insurance when her risk type is lower (resp. higher) than the cutoff. Thus, this cutoff risk type measures the frontier and laggard market shares. We show, intuitively, that by improving their technology accuracy, frontier insurers boost their market share. However, it might be ex-ante unexpected that laggard insurers face decreasing market shares when they are catching up with the frontier insurers, but will benefit from technology improvement once they surpass their frontier competitors. Moreover, lowering the customer’s search costs increases the market share of laggard insurers but decreases the market share of frontier insurers. Our results help explain the unclear relationship between technology improvement and market share dynamics observed in practice.
