Ken Seng Tan, ASA, CERA, is a Professor of Actuarial Science in the Division of Banking and Finance (NBS) and Director of Insurance Risk and Finance Research Centre. Formerly he held the Canada Research Chair Professor in Quantitative Risk Management at University of Waterloo (Canada). Professor Tan is very active in conducting research, reforming education and strengthening the profession, including serving as the member of the NSERC Discovery Grant’s Mathematics and Statistics Evaluation Group (Canada), elected council member for the Society of Actuaries’s International Section, Joint Risk Management Section, and Investment Section, member of the Research Council Committee, and the Chief Actuarial Advisor for “Risk Management, Economic Sustainability, and Actuarial Science Development in Indonesia (READI),” a government-to-government development project between Canada and Indonesia. Professor Tan is the co-editor of North American Actuarial Journal (NAAJ) and the Associate Editor of the Annals of Actuarial Science and Agricultural Finance Review.
Professor Tan’s research interests lie at the intersection of actuarial science, insurance, finance, mathematics, and statistics. Much of his work relates to the development and implementation of innovative approaches to risk management, (re)insurance, and computational finance. Some examples are (i) modelling and analyzing risks involved in long-term insurance contracts with embedded financial guarantees; (ii) modelling and analyzing mortality and longevity risks; (iii) designing optimal (re)insurance policies; (iv) designing innovative approaches to agricultural insurance and agricultural risk management; (v) providing state-of-the-art quasi-Monte Carlo algorithms for solving high-dimensional computational problems.
Development and implementation of innovative approaches to risk management
- Tan, K.S., P. Wei, W. Wei and **S. Zhuang. (2020) “Optimal dynamic reinsurance policies under a generalized Denneberg’s absolute deviation principle,” European Journal of Operation Research, 282(1):345-362. This is the first paper that solves optimal reinsurance policies in a dynamic setting, under general class of policies and a newly proposed premium principle.
- Porth, L., K.S. Tan and W. Zhu. (2019) “A new relational data-matching model for enhancing individual loss experience: An example from crop insurance,” North American Actuarial Journal, 23(4):551-572. The innovation of this paper is to provide a viable solution in resolving missing data for pricing crop insurance.
- Zhang, J., K.S. Tan and C. Weng. (2019) “Index insurance design”, ASTIN Bulletin, 49(2):491-523. This paper provides an analytic solution to the optimal design of index insurance.
- NTU-SUG “Portfolio construction: the trade-off between diversification and dimension reduction” (2019-2022)
- SOA Centre of Actuarial Excellence Research Grant (USA) “Maintaining Financial Stability in an Era of Changing Climate and Demographics” (2018-2021)
- NSERC Collaborative Research & Development Grants (Canada) “Sustainable Agricultural Risk Modelling and Developing Satellite Derived Index” (2016 – 2020)
- NSERC Individual Discovery Grant “Quantitative Risk Management and Computational Finance” (2013-2019).
Director, Insurance Risk and Finance Research Centre
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