A correlation sensitivity analysis of non-life underwriting risk in solvency capital requirement estimation

This paper analyses the impact of using different correlation assumptions between lines of business when estimating the risk-based capital reserve, the Solvency Capital Requirement -SCR-, under Solvency II regulations. A case study is presented and the SCR is calculated according to the Standard Model approach. Alternatively, the requirement is then calculated using an Internal Model based on a Monte Carlo simulation of the net underwriting result at a one-year horizon, with copulas being used to model the dependence between lines of business. To address the impact of these model assumptions on the SCR we conduct a sensitivity analysis. We examine changes in the correlation matrix between lines of business and address the choice of copulas. Drawing on aggregate historical data from the Spanish non-life insurance market between 2000 and 2009, we conclude that modifications of the correlation and dependence assumptions have a significant impact on SCR estimation.

Requirement management in nuclear power projects

Diplomityön tarkoituksena oli tutkia vaatimusten hallintaa suunnittelu- ja konsultointiyrityksen kannalta Suomen ydinvoimaprojekteissa keskittyen ydinturvallisuus- ja laatuvaatimuksiin. Ydinvoimaprojekteissa toimiminen on edellyttänyt menettelyohjeiden ja laatujärjestelmän uudelleen organisointia yrityksessä ja esiin on noussut haasteita liittyen muun muassa vaatimusten tunnistamiseen ja todentamiseen erityyppisissä ja erilaajuisissa projekteissa. Työ toteutettiin perehtymällä ydinvoimaan liittyvään lainsäädäntöön Suomessa, ohjeisiin ja standardeihin sekä haastattelemalla yrityksen omia asiantuntijoita. Viimeaikaisista sekä meneillään olevista projekteista kerättiin kokemuksia sekä arvioitiin ydinvoima projekteja varten laaditun projektin toteutusohjeen toimivuutta ja käytettävyyttä esimerkkiprojektin avulla. Suurimmiksi haasteiksi tunnistettiin lainsäädännöllisten vaatimusten, kuten ydinvoima- laitosohjeiden (YVL) muuttuminen ja tulkinnanvaraisuus sekä asiakkaiden perehtymät- tömyys Suomen lainsäädäntöön ja vaatimustasoon liittyen ydinturvallisuuteen. Työn tuloksena tunnistettiin hyviä vaatimusten hallintaan liittyviä projektinhallintaa ja ydin- turvallisuutta edistäviä asioita, kuten vaatimusten täsmentäminen jo sopimustasolla sekä niiden täyttymisen seuranta projektin aikana. Erillisen vaatimustietokannan luomista ydinvoimaprojekteja varten tutkittiin, mutta siitä luovuttiin teknisten vaatimusten osalta kannattamattomana, sillä standardien ja vaatimusten määrä kasvoi niin suureksi, että niiden hallitseminen vaatisi enemmän työtä kuin mitä projektien taso yleensä sallisi.

Water requirement and yield of fig trees under different drip irrigation management

This work aimed to study the effect of drip irrigation management on growth and yield of the 'Roxo de Valinhos' fig tree (Ficus carica L.), at three years old, and to determine crop coefficients (Kc) and its water requirement (ETc) under Baixada Fluminense climate and soil conditions, state of Rio de Janeiro, Brazil. The study was carried out in the experimental area of SIPA (Sistema Integrado de Produção Agroecológica) in Seropédica, Rio de Janeiro State, from July 2011 to May 2012. The experimental area was divided in two blocks, named B1 (sandy clay loam texture) and B2 (loamy sand texture). In each block, irrigation frequencies (IF) of two (T1) and four days (T2) were evaluated, as well as the irrigation absence (T3). Irrigation management and water consumption determination were performed through the soil water balance, using the TDR technique. Plant growth was not affected by IF, differing only in the number of produced internodes. For both soil textures, the mean Kc was 0.60, with a significant difference (p<0.05) only for IF. The estimated mean yield showed no significant differences between both textural classes, ranging from 6,612 kg ha-1 (T3) to 8,554 kg ha-1 (T1). This study indicates the importance of irrigation frequency in the irrigation management of fig trees cultivated in soils with different physical characteristics.

Requirements management process

Vaatimustenhallinnan alue on hyvin kompleksinen. Sen terminologia on moninaista ja samat termit voivat tarkoittaa eri asioita eri ihmisille. Tämän työn tarkoituksena on selkeyttää vaatimustenhallinnan aluetta. Se vastaa kysymyksiin kuten, mitä vaatimustenhallinta on ja miten sitä voidaan tehdä. Työ keskittyy vaatimusten analysoinnin ja validoinnin alueisiin, joten tältä osin se vastaa myös tarkempiin kysymyksiin kuten, miten koottujen vaatimusten jäljitettävyyttä, dokumentointia, analysointia ja validointia voidaan tehdä. Tämän työn kautta vaatimustenhallinta voidaan esitellä yritykselle ja sen eri osat voivat saada saman käsityksen vaatimustenhallinnasta. Tutkimus esittelee vaatimustenhallinnan prosessina, joka pitää sisällään vaatimusten jäljitettävyyden, vaatimusten dokumentoinnin, vaatimusten muutoksenhallinnan ja vaatimusmäärityksen. Vaatimusmääritys voidaan edelleen jakaa vaatimusten koostamiseen, analysointiin ja neuvotteluun sekä validointiin. Työssä esitellään geneerinen vaatimustenhallinnan prosessimalli. Mallin avulla näytetään, että vaatimustenhallinta on jatkuva prosessi, jossa kaikki aktiviteetit ovat kytköksissä toisiinsa. Näitä aktiviteettejä suoritetaan enemmän tai vähemmän samanaikaisesti. Malli esitetään geneerisessä muodossa, jotta se olisi hyödynnettävissä systeemi- ja tuotekehitys projekteissa sekä sisäisissä kehitysprojekteissa. Se kertoo, että vaatimukset tulisi jalostaa niin aikaisin, kuin mahdollista, jotta muutoksien määrä kehitystyön myöhemmissä vaiheissa voitaisiin minimoida. Jotkin muutokset eivät ole vältettävissä, joten muutoksenhallinnan tueksi tulisi kehittää jäljitettävyyskäsikirja ja jäljitettävyyskäytännöt. Vaatimustenhallintaa tarkastellaan meneillään olevassa kehitysprojektissa. Tarkastelussa tutkitaan, mitä vaatimustenhallinnan toimintatapoja sekä analysointi- ja validointimetodeja käytetään ja mitä voitaisiin tehdä vaatimustenhallinnan parantamiseksi projektissa.

Studies on Energy Requirement and Conservation in Selected Fish Harvesting Systems

Present work deals with the studies on energy requirement and convervation in selected fish harvesting systems.Modem fishing is one of the most energy intensive methods of food production. Fossil fuels used for motorised and mechanised fishing are nonrenewable and limited. Most of the environmental problems that confront mankind today are connected to the use of energy in one way or another. Code of Conduct for Responsible Fisheries (FAO, 1995) highlights the need for efficient use of energy in the fisheries sector. Information on energy requirement in different fish harvesting systems, based on the principles of energy analysis, is entirely lacking in respect of Indian fisheries. Such an analysis will provide an unbiased decision making support for maximising the yield per unit of non-renewable energy use, from different fishery resource systems, by rational deployment of harvesting systems. In the present study, results of investigations conducted during 1997-2000 on energy requirement in selected fish harvesting systems and approaches to energy conservation in fishing, are presented along with a detailed description of the fish harvesting systems and their operation. The content of the thesis is organised into 8 Chapters.

Exporting Culture: a Requirement for Competitive Internationalization*

his paper proposes a concept of “culture for internationalization” and “exporting culture” –a highly relevant concept for developing countries’ firms that are likely to follow a gradualinternationalization process– based on the strong relationship binding the concept proposed to strategy and systemic competitiveness. These three items are paramount to Understand the conditions underlying internationalizationas it is characterized by particular traits that make it a key alternative for a firm’s growth and successful perdurability based on competitiveness. “Culture for internationalization” and its variation, “exporting culture”, overflow the conceptsof organizational or corporate culture and involve some major interaction among the micro, meso and macro levels of a national economy in order to operationalize strategies thatpromote such culture and assure successful firm and economy internationalization. Discussion remains open as to the concept and its applicability with the hope that it contributesto the understanding and creation of appropriate conditions for firms to be able to access international markets with greater advantage and generate as much benefit as possible totheir nations, particularly in developing countries. 

The maintenance requirement of domestic drakes

1. Mature domestic drakes of 7 genotypes, ranging in live weight from 1.1to 5.1 kg, were each given a daily allowance of feed just below the level of recorded ad libitum intake. 2. House temperature was maintained at 26 degrees C for 16 weeks and then at 10 degrees C for a further 8 weeks. 3. Under these conditions, live weight quickly adjusted to the level of feed supplied and then remained stable. 4. Regression of metabolisable energy intake on live weight (W) yielded estimates of maintenance requirement of 583 kJ/kg W-0.75 center dot d at 10 degrees C and 523 kJ/kg W-0.75 center dot d at 26 degrees C.

Predicting the profile of nutrients available for absorption: from nutrient requirement to animal response and environmental impact

Current feed evaluation systems for dairy cattle aim to match nutrient requirements with nutrient intake at pre-defined production levels. These systems were not developed to address, and are not suitable to predict, the responses to dietary changes in terms of production level and product composition, excretion of nutrients to the environment, and nutrition related disorders. The change from a requirement to a response system to meet the needs of various stakeholders requires prediction of the profile of absorbed nutrients and its subsequent utilisation for various purposes. This contribution examines the challenges to predicting the profile of nutrients available for absorption in dairy cattle and provides guidelines for further improved prediction with regard to animal production responses and environmental pollution. The profile of nutrients available for absorption comprises volatile fatty acids, long-chain fatty acids, amino acids and glucose. Thus the importance of processes in the reticulo-rumen is obvious. Much research into rumen fermentation is aimed at determination of substrate degradation rates. Quantitative knowledge on rates of passage of nutrients out of the rumen is rather limited compared with that on degradation rates, and thus should be an important theme in future research. Current systems largely ignore microbial metabolic variation, and extant mechanistic models of rumen fermentation give only limited attention to explicit representation of microbial metabolic activity. Recent molecular techniques indicate that knowledge on the presence and activity of various microbial species is far from complete. Such techniques may give a wealth of information, but to include such findings in systems predicting the nutrient profile requires close collaboration between molecular scientists and mathematical modellers on interpreting and evaluating quantitative data. Protozoal metabolism is of particular interest here given the paucity of quantitative data. Empirical models lack the biological basis necessary to evaluate mitigation strategies to reduce excretion of waste, including nitrogen, phosphorus and methane. Such models may have little predictive value when comparing various feeding strategies. Examples include the Intergovernmental Panel on Climate Change (IPCC) Tier II models to quantify methane emissions and current protein evaluation systems to evaluate low protein diets to reduce nitrogen losses to the environment. Nutrient based mechanistic models can address such issues. Since environmental issues generally attract more funding from governmental offices, further development of nutrient based models may well take place within an environmental framework.

Knowledge-elicitation and data-mining: fusing human and industrial plant information

Knowledge-elicitation is a common technique used to produce rules about the operation of a plant from the knowledge that is available from human expertise. Similarly, data-mining is becoming a popular technique to extract rules from the data available from the operation of a plant. In the work reported here knowledge was required to enable the supervisory control of an aluminium hot strip mill by the determination of mill set-points. A method was developed to fuse knowledge-elicitation and data-mining to incorporate the best aspects of each technique, whilst avoiding known problems. Utilisation of the knowledge was through an expert system, which determined schedules of set-points and provided information to human operators. The results show that the method proposed in this paper was effective in producing rules for the on-line control of a complex industrial process. (C) 2005 Elsevier Ltd. All rights reserved.

Fusing data-mining and knowledge elicitation for the supervisory control of an aluminium plate mill

Knowledge-elicitation is a common technique used to produce rules about the operation of a plant from the knowledge that is available from human expertise. Similarly, data-mining is becoming a popular technique to extract rules from the data available from the operation of a plant. In the work reported here knowledge was required to enable the supervisory control of an aluminium hot strip mill by the determination of mill set-points. A method was developed to fuse knowledge-elicitation and data-mining to incorporate the best aspects of each technique, whilst avoiding known problems. Utilisation of the knowledge was through an expert system, which determined schedules of set-points and provided information to human operators. The results show that the method proposed in this paper was effective in producing rules for the on-line control of a complex industrial process.