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Development life insurance market in recent years the Czech Republic
Procházková, Monika ; Bílková, Diana (advisor) ; Žváčková, Lenka (referee)
The thesis aims to bring readers from life insurance concepts, types of insurance through the methodology of calculating the premium performance products to selected insurance companies. Users gain basic information about insurance and the theory of premium calculation mathematical and statistical tools, including performance factors influencing insurance. The reader is also acquainted with significant legislative change that greatly impressed by the amount of premiums through a "unisex" mortality tables. After the initial acquisition of knowledge is a few model examples shown calculate premiums, including pointing out the diversity of the premium for men and women before and after the introduction of a new legislative act. The main contribution of this work is the creation of a universal and flexible premium calculator via MS Excel. Users will eventually learn to work with selected insurance companies and their product offerings with the development of the insurance market. The work comes to the conclusion that the insurance in case of death or mixed insurance discriminated against a woman, while for insurance on survival or delayed expectancy is at a disadvantage man. And also that the insurance market offers a wide range of life insurance products, the client may therefore choose a specific insurance product, which he will be tailor-made.
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Analysis of the operational risks of the banking system implementation project
Bertsch, Jan ; Žváčková, Lenka (advisor) ; Pejčoch, David (referee)
This bachelor thesis describes analysis of operational risk of bank software implementing project. In first part of this thesis, I`m theoreticaly describing definition of risk and different classifying of the risk. The procceses of risk management are also described. I`m focusing on operational risk. In the second part, I`m describing phases of implementation project. There is detailed decription of risks of project phases, which are able to negativly influence goals of the project.
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Measuring of Operational Risk in Finacial Institutions
Voříšek, Martin ; Žváčková, Lenka (advisor) ; Kozáková, Markéta (referee)
The aim of this submitted work deals with situation which quite recently occured on financial markets. In 2001, Basel Commitee for Banking Supervision declared that banks had to cover their exposure to a not very well-known operational risk. This work consists of a five main parts. After a few introductory words comes a short chapter about risks generally. Second part repeats some basic economic terms in territory of market failures and then discusses these particular problems in the field of financial markets. Following part brings a view on regulatory documents -- their past, their present and their possible future. A chief attention should be aimed on fourth part. It analyzes operational risk with a focus on its definition, its specifics, examples of its impacts and methods of its control, mitigation, measuring and managing. Last chapter describes one of advanced approaches to measure operational risk. At the end, there are a few last words concerning some questionable areas and future of operational risk management.
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Currency Trading Strategies
Krpálek, Jan ; Bašta, Milan (advisor) ; Žváčková, Lenka (referee)
My bachelor thesis is concerned with algorithmic trading on foreign exchange markets. Motivation is to create practical work which will cover basics for my ongoing work. From my perspective it is very important to describe assumptions which are necessary in order to properly understand functionality of automated trading. The initial theoretical part includes essential description of methods and tools for Technical Analysis and Money Management which are used afterwards. Further my aim is to show optimization process that is used by professional traders to achieve better and consistent trading results. Finally all calculations will be processed by the TradeStation trading platform and written in EasyLanguage. The end of my thesis includes complete algorithm, ready for immediate use.
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Technical reserves in non-life insurance
Vild, Jiří ; Bílková, Diana (advisor) ; Žváčková, Lenka (referee)
One of the main and crucial activities of an insurance company is to determine amount of technical reserves to be generated. If the insurance company performs in the non-life insurance branch, it focuses first of all on loss reserve which is generated to settle debts coming from insurance claims. To set the proper amount of this reserve, especially of the reserve on incurred but not reported losses (IBNR), mathematical and statistical methods are used. This thesis introduces one of the most used methods which is the chain ladder method. It presents the first chain ladder deterministic model then moves to its stochastic extension in a form of Mack's model and finally gets to the Munich chain ladder model, which takes into calculations not only data on losses paid but also losses incurred. In the theoretical part both these models (standard Mack's chain ladder and Munich chain ladder) are presented both separately and in a common context so that later in the analytical section they could be demonstrated on real data.
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Covariance extension of Chain-ladder method
Žváčková, Lenka ; Marek, Luboš (advisor) ; Hasil, Jakub (referee)
This diploma thesis deals with technical reserves in non-life insurance, in particular with provisions for future claim payments for damages that have occurred, but has not yet been reported to the insurance company. This type of provision is known by the acronym IBNR. After the introductory section containing a general introduction to the issue of claims reserving in non-life insurance different approaches to modeling of IBNR reserves are briefly presented. Subsequently, full attention is given to Chain-ladder method, which is most frequently used in the actuarial practise for the purpose of claims reserving. This method is then presented progressively from its simplest form of a simple computing algorithm followed by Mack's stochastic model to the last theoretical part of this part describing extended form of Chain-ladder method with relations between different groups of insurance portfolio included. In the very last section, all the lessons are demonstrated on real data to give readers an idea of how the process of claims reserving works is in the common actuarial practice.
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