Plenary speakers
Invited plenary talk: Fri, Sept. 6, 2024, 09:00-09:50
Jose Garrido (Concordia University Montreal, Canada)
Actuarial climate indexes: international comparative study and insurance applications
Climate risks are increasingly affecting the frequency and the severity of claims in different insurance branches. In order to help insurance companies predict and manage climate risks, North American actuaries defined the Actuaries Climate IndexTM (ACI), that combines information from several important weather variables in the historical records of United States and Canada. The ACI provides a factual and objective climate risk measure for North America; it shows a significantly increasing trend over recent years.
There is a need to test if a similar tool can measure the impact of climate change in other parts of the planet, and if the change is similar or not.
Despite the observed global nature of climate change, different regions and countries can be affected in different ways. In this presentation we make use of the same ACI methodology to calculate actuarial climate indices with climate data from France, Spain and Portugal and compare the results obtained to those of Canada and the US. An illustrative example uses the French index to design and price a parametric insurance product.
About
Dr. José Garrido is Distinguished Professor Emeriti at the Department of Mathematics and Statistics at Concordia University, in Montreal, Canada.
After working as an actuarial analyst for Towers Watson in Montreal (then called TPF&C), Prof. Garrido received a Masters from Université Catholique de Louvain, in Belgium, and his PhD in 1987 from the Department of Statistics and Actuarial Sciences at the University of Waterloo, Canada. He is an Associate of the Society of Actuaries (SOA) and was an Associate of the Canadian Institute of Actuaries (CIA), from 2012 to 2021.
His research interests are in Risk Theory, Loss Models, Insurance Statistics, Credibility Theory, Risk Management and Credit Risk, Machine Learning in Insurance, Predictive Modelling and Robust Methods. Prof. Garrido has published more than 50 articles in international refereed journals and conference proceedings. He is Associate Editor of several journals, including Insurance: Mathematics and Economics and the North American Actuarial Journal, as well as an Editor of the European Actuarial Journal and of the open access journal Risks.
