Resumo

MANOTAS, Diego Fernando; ULLOA, Inés María  e  URIBE, Jorge Mario. Modeling operational risk caused by demographic factors. Rev. ing. univ. Medellín [online]. 2016, vol.15, n.29, pp.113-128. ISSN 1692-3324.  https://doi.org/10.22395/rium.v15n29a7.

In this research paper, we propose a methodology to measure the financial risk in non-financial companies exposed to variables such as mortality and morbidity rates. The developed methodology includes elements from actuarial literature, financial economics and copulation theory. The methodology focuses on the measurement of the underlying risk to demographic factors and allows to simplify the information needed for its calculation. Finally, the methodology is validated by applying the financial risk measurement on a funeral insurance company.

Palavras-chave : financial risk; demographic factors; value at risk; value at conditional risk..

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