The Demand for Life Insurance Dynamic Ecological Systemic Theory Usi
“Once every 10 or 20 years, a researcher identifies a tool that can be used to transform the way in which a product or service is conceptualized. It is my opinion that Dr. Heo has made such a breakthrough. As the largest life insurance companies move clos
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The Demand for Life Insurance
Wookjae Heo
The Demand for Life Insurance Dynamic Ecological Systemic Theory Using Machine Learning Techniques
Wookjae Heo South Dakota State University Brookings, SD, USA
ISBN 978-3-030-36902-6 ISBN 978-3-030-36903-3 (eBook) https://doi.org/10.1007/978-3-030-36903-3 © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: © John Rawsterne/patternhead.com This Palgrave Pivot imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
It was difficult to combine multiple disciplines—consumer economics, financial planning, and computer sciences—into a book. The conceptual linkages among these fields were not easily made. However, these fields have different theories with a high number of similarities: ecological systemic theory, dynamic concepts from chaos theory, and neural networks algorithms. All of these theories and concepts indicate, or imply, that various factors connected to the consumers are inter- and intra-related. Based on the similarities among these theories, it was possible to combine the different disciplines into one conceptual approach in this book. This book is important for two reasons. First, it presents a comprehensive understanding about the demand for life insurance. The book starts by providing a general explanation about risk and risk management, which are the foundational concepts for life insurance. By understanding the comprehensive concepts of risk and risk management, readers can understand why life insurance should be understood while considering the various influential factors related to consumers. Second, there is a theoretical linkage amon
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