The COPULA Model In The Chinese Insurance Market

This paper mainly to China's insurance market as the research object,copula model in the Chinese insurance market.China's insurance industry is a fledgling industry soon,after several major reforms,and gradually perfected and standardized.Based on the study of more than Copula theory,its application to China's insurance market,the Chinese insurance market research correlation between the various types of insurance.The work of this paper can be summarized as follows: review the development process Copula theory,it introduces its research status and results achieved in the financial time series analysis applications.Depth Copula theory,System Application Copula correlation metric,introduces several important Copula,analyze their characteristics in terms of correlation measure.Use Copula function to construct the joint distribution function theory discussed the issue of actuarial science in the life table.Copula function by selecting a joint life table constructed multi-regional and multi-type of joint life table.And to construct out of the joint life table compares lateral mortality.Mortality in the individual joint state is greater than the mortality assumptions individual independence,but also the preparation of group life insurance pricing and joint life table to provide a means for building the joint distribution of ideas.Use Copula function to build joint distribution function of the insurance company's overall risk,with TCE method to measure the economic capital of insurance companies,and the use of dynamic programming method for optimal allocation of economic capital model solution.Finally,data from China People's Insurance Company of the empirical.The research shows that internal solvency of insurance companies is good,but insurance structure needs to be optimized.