{"id":"https://openalex.org/W3008852589","doi":"https://doi.org/10.1109/wsc40007.2019.9004955","title":"Combining Simulation with a Biased-Randomized Heuristic to Develop Parametric Bonds for Insurance Coverage against Earthquakes","display_name":"Combining Simulation with a Biased-Randomized Heuristic to Develop Parametric Bonds for Insurance Coverage against Earthquakes","publication_year":2019,"publication_date":"2019-12-01","ids":{"openalex":"https://openalex.org/W3008852589","doi":"https://doi.org/10.1109/wsc40007.2019.9004955","mag":"3008852589"},"language":"en","primary_location":{"id":"doi:10.1109/wsc40007.2019.9004955","is_oa":false,"landing_page_url":"https://doi.org/10.1109/wsc40007.2019.9004955","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2019 Winter Simulation Conference (WSC)","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5084561837","display_name":"Christopher Bayliss","orcid":"https://orcid.org/0000-0003-0031-5937"},"institutions":[{"id":"https://openalex.org/I138847295","display_name":"Universitat Oberta de Catalunya","ror":"https://ror.org/01f5wp925","country_code":"ES","type":"education","lineage":["https://openalex.org/I138847295"]}],"countries":["ES"],"is_corresponding":true,"raw_author_name":"Christopher Bayliss","raw_affiliation_strings":["IN3 \u2013 Computer Science Dept., Universitat Oberta de Catalunya, Castelldefels, SPAIN"],"affiliations":[{"raw_affiliation_string":"IN3 \u2013 Computer Science Dept., Universitat Oberta de Catalunya, Castelldefels, SPAIN","institution_ids":["https://openalex.org/I138847295"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5034667032","display_name":"Alejandro Estrada\u2010Moreno","orcid":"https://orcid.org/0000-0001-9767-2177"},"institutions":[{"id":"https://openalex.org/I55952717","display_name":"Universidad Rovira i Virgili","ror":"https://ror.org/00g5sqv46","country_code":"ES","type":"education","lineage":["https://openalex.org/I55952717"]}],"countries":["ES"],"is_corresponding":false,"raw_author_name":"Alejandro Estrada-Moreno","raw_affiliation_strings":["Dept. d\u2019Enginyeria Inform\u00e0tica i Matem\u00e0tiques, Universitat Rovira i Virgili, Tarragona, SPAIN","Dept. d'Enginyeria Inform\u00e0tica i Matem\u00e0tiques, Universitat Rovira i Virgili, Tarragona, SPAIN"],"affiliations":[{"raw_affiliation_string":"Dept. d\u2019Enginyeria Inform\u00e0tica i Matem\u00e0tiques, Universitat Rovira i Virgili, Tarragona, SPAIN","institution_ids":["https://openalex.org/I55952717"]},{"raw_affiliation_string":"Dept. d'Enginyeria Inform\u00e0tica i Matem\u00e0tiques, Universitat Rovira i Virgili, Tarragona, SPAIN","institution_ids":["https://openalex.org/I55952717"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5080136207","display_name":"\u00c1ngel A. Juan","orcid":"https://orcid.org/0000-0003-1392-1776"},"institutions":[{"id":"https://openalex.org/I138847295","display_name":"Universitat Oberta de Catalunya","ror":"https://ror.org/01f5wp925","country_code":"ES","type":"education","lineage":["https://openalex.org/I138847295"]}],"countries":["ES"],"is_corresponding":false,"raw_author_name":"Angel A. Juan","raw_affiliation_strings":["IN3 \u2013 Computer Science Dept., Universitat Oberta de Catalunya, Castelldefels, SPAIN"],"affiliations":[{"raw_affiliation_string":"IN3 \u2013 Computer Science Dept., Universitat Oberta de Catalunya, Castelldefels, SPAIN","institution_ids":["https://openalex.org/I138847295"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5031953895","display_name":"Guillermo Franco","orcid":"https://orcid.org/0009-0000-7250-5663"},"institutions":[{"id":"https://openalex.org/I4210107964","display_name":"Williams & Associates","ror":"https://ror.org/01jncky63","country_code":"US","type":"other","lineage":["https://openalex.org/I4210107964"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Guillermo Franco","raw_affiliation_strings":["CAT Risk Studio, Guy Carpenter & Company, LLC, New York, NY, USA"],"affiliations":[{"raw_affiliation_string":"CAT Risk Studio, Guy Carpenter & Company, LLC, New York, NY, USA","institution_ids":["https://openalex.org/I4210107964"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5085805307","display_name":"Roberto Guidotti","orcid":"https://orcid.org/0000-0001-6487-3968"},"institutions":[{"id":"https://openalex.org/I4210107964","display_name":"Williams & Associates","ror":"https://ror.org/01jncky63","country_code":"US","type":"other","lineage":["https://openalex.org/I4210107964"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Roberto Guidotti","raw_affiliation_strings":["CAT Risk Studio, Guy Carpenter & Company, LLC, New York, NY, USA"],"affiliations":[{"raw_affiliation_string":"CAT Risk Studio, Guy Carpenter & Company, LLC, New York, NY, USA","institution_ids":["https://openalex.org/I4210107964"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":5,"corresponding_author_ids":["https://openalex.org/A5084561837"],"corresponding_institution_ids":["https://openalex.org/I138847295"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.26121669,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"1","issue":null,"first_page":"1328","last_page":"1329"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9955000281333923,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9955000281333923,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11413","display_name":"Risk and Portfolio Optimization","score":0.9947999715805054,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12011","display_name":"Insurance, Mortality, Demography, Risk Management","score":0.9796000123023987,"subfield":{"id":"https://openalex.org/subfields/3317","display_name":"Demography"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/parametric-statistics","display_name":"Parametric statistics","score":0.6530746221542358},{"id":"https://openalex.org/keywords/monte-carlo-method","display_name":"Monte Carlo method","score":0.5971418023109436},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.5964909791946411},{"id":"https://openalex.org/keywords/heuristic","display_name":"Heuristic","score":0.5718801021575928},{"id":"https://openalex.org/keywords/natural-disaster","display_name":"Natural disaster","score":0.5173987150192261},{"id":"https://openalex.org/keywords/mathematical-optimization","display_name":"Mathematical optimization","score":0.4853860139846802},{"id":"https://openalex.org/keywords/constraint","display_name":"Constraint (computer-aided design)","score":0.47832727432250977},{"id":"https://openalex.org/keywords/payment","display_name":"Payment","score":0.4773017168045044},{"id":"https://openalex.org/keywords/budget-constraint","display_name":"Budget constraint","score":0.4682380259037018},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.3604961037635803},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.22303959727287292},{"id":"https://openalex.org/keywords/engineering","display_name":"Engineering","score":0.2029823660850525},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.161202073097229},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.1371731162071228},{"id":"https://openalex.org/keywords/geography","display_name":"Geography","score":0.12440672516822815},{"id":"https://openalex.org/keywords/artificial-intelligence","display_name":"Artificial intelligence","score":0.09595915675163269},{"id":"https://openalex.org/keywords/statistics","display_name":"Statistics","score":0.09331202507019043}],"concepts":[{"id":"https://openalex.org/C117251300","wikidata":"https://www.wikidata.org/wiki/Q1849855","display_name":"Parametric statistics","level":2,"score":0.6530746221542358},{"id":"https://openalex.org/C19499675","wikidata":"https://www.wikidata.org/wiki/Q232207","display_name":"Monte Carlo method","level":2,"score":0.5971418023109436},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5964909791946411},{"id":"https://openalex.org/C173801870","wikidata":"https://www.wikidata.org/wiki/Q201413","display_name":"Heuristic","level":2,"score":0.5718801021575928},{"id":"https://openalex.org/C166566181","wikidata":"https://www.wikidata.org/wiki/Q8065","display_name":"Natural disaster","level":2,"score":0.5173987150192261},{"id":"https://openalex.org/C126255220","wikidata":"https://www.wikidata.org/wiki/Q141495","display_name":"Mathematical optimization","level":1,"score":0.4853860139846802},{"id":"https://openalex.org/C2776036281","wikidata":"https://www.wikidata.org/wiki/Q48769818","display_name":"Constraint (computer-aided design)","level":2,"score":0.47832727432250977},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.4773017168045044},{"id":"https://openalex.org/C8505890","wikidata":"https://www.wikidata.org/wiki/Q605095","display_name":"Budget constraint","level":2,"score":0.4682380259037018},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3604961037635803},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.22303959727287292},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.2029823660850525},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.161202073097229},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.1371731162071228},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.12440672516822815},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.09595915675163269},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.09331202507019043},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0},{"id":"https://openalex.org/C153294291","wikidata":"https://www.wikidata.org/wiki/Q25261","display_name":"Meteorology","level":1,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/wsc40007.2019.9004955","is_oa":false,"landing_page_url":"https://doi.org/10.1109/wsc40007.2019.9004955","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2019 Winter Simulation Conference (WSC)","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":31,"referenced_works":["https://openalex.org/W161389394","https://openalex.org/W2031677532","https://openalex.org/W2083743924","https://openalex.org/W2136792293","https://openalex.org/W2144121970","https://openalex.org/W2148825060","https://openalex.org/W2148975235","https://openalex.org/W2152235373","https://openalex.org/W2165119014","https://openalex.org/W2274664589","https://openalex.org/W2290769714","https://openalex.org/W2387094245","https://openalex.org/W2487334107","https://openalex.org/W2567240797","https://openalex.org/W2626332724","https://openalex.org/W2755152478","https://openalex.org/W2761680577","https://openalex.org/W2783760513","https://openalex.org/W2798336485","https://openalex.org/W2911622427","https://openalex.org/W3123423455","https://openalex.org/W3140629188","https://openalex.org/W3144635662","https://openalex.org/W3146960603","https://openalex.org/W3151074920","https://openalex.org/W4255783034","https://openalex.org/W6722647314","https://openalex.org/W6744616190","https://openalex.org/W6747963349","https://openalex.org/W6750450940","https://openalex.org/W6758416137"],"related_works":["https://openalex.org/W2380995303","https://openalex.org/W83893804","https://openalex.org/W2178649091","https://openalex.org/W2353238953","https://openalex.org/W2496037054","https://openalex.org/W2024895661","https://openalex.org/W2390883384","https://openalex.org/W2054108430","https://openalex.org/W3123594720","https://openalex.org/W2360283705"],"abstract_inverted_index":{"The":[0,101],"social":[1],"and":[2,16,140],"economic":[3],"impact":[4,131],"of":[5,23,53,61,78,114,125,132,144],"natural":[6,45],"catastrophes":[7],"on":[8,50,136,141],"communities":[9],"is":[10,28],"a":[11,35,68,74,93,108,112],"concern":[12],"for":[13,120],"many":[14],"governments":[15],"corporations":[17],"across":[18],"the":[19,31,40,51,59,63,79,98,122,130,133,137,142],"globe.":[20],"A":[21,116],"class":[22],"financial":[24],"instruments,":[25],"parametric":[26,55],"hedges,":[27,56],"emerging":[29],"in":[30],"(re)insurance":[32],"market":[33],"as":[34,73],"promising":[36],"approach":[37],"to":[38,44,67,96,110],"close":[39],"protection":[41],"gap":[42],"related":[43],"hazards.":[46],"This":[47],"paper":[48,91],"focuses":[49],"design":[52],"such":[54],"which":[57],"have":[58],"objective":[60],"maximizing":[62],"risk":[64,139],"transferred":[65,138],"subject":[66],"budget":[69],"constraint.":[70],"With":[71],"Greece":[72],"case":[75],"study,":[76],"one":[77],"most":[80],"seismic":[81,87],"prone":[82],"European":[83],"regions,":[84],"with":[85,107],"limited":[86],"insurance":[88],"penetration,":[89],"this":[90],"proposes":[92],"biased-randomized":[94],"algorithm":[95,102],"solve":[97],"optimization":[99],"problem.":[100],"hybridizes":[103],"Monte":[104],"Carlo":[105],"simulation":[106,117],"heuristic":[109],"generate":[111],"variety":[113],"solutions.":[115],"stage":[118],"allows":[119],"analyzing":[121],"payout":[123],"distribution":[124,143],"each":[126],"solution.":[127],"Results":[128],"show":[129],"problem":[134],"resolution":[135],"triggered":[145],"payments.":[146]},"counts_by_year":[],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}