Background: Problem based learning (PBL) is an innovative way of delivering instruction in which problems are used as the basis of learning. Problem based learning was developed in the 1960s by Harold Barrows at McMas...Background: Problem based learning (PBL) is an innovative way of delivering instruction in which problems are used as the basis of learning. Problem based learning was developed in the 1960s by Harold Barrows at McMaster University Medical School in Canada. Since then, PBL had been im-plemented as a teaching method in other reputable education institutions internationally, includ-ing nursing education. Curriculum reform is proposed through PBL in conjunction with patient simulation in undergraduate nursing education. The first author, Tan Kan Ku, PhD Candidate, MHS (Transcultural Mental Health—by Research) worked as a Registered Nurse for more than two decades internationally in England, New Zealand, Saudi Arabia and Australia, where she worked as a Case Manager in Community Mental Health Rehabilitation Program. Since 2001, she focused on nurse education and research into the stigma of mental illness from a cross-cultural perspective. Currently, she teaches Mental Health, Cultural Diversity and Research in the Diploma of Nursing course at Victoria University in Melbourne, Australia, while completing her PhD thesis for examination at Charisma University. The second author, Dr. Michael Ha, FSA, MAAA, CFA, CPA (Australia) FRM, PRM, LLM, is the Founding Director of the MSc Financial Mathematics programme at Xian Jiaotong-Liverpool University. He was previously Vice President of Strategic Business In-itiatives Units at ING Life Insurance in its Taiwan operation. Ninety percent of his students are enrolled in the Financial Mathematics programme. They learn not only mathematics and statistics theories but also their applications in the Finance and Investment areas, especially Portfolio Con-struction and Financial Risk Management. Creating a real-world Finance work environment in university lecture-halls embracing theories and practice, Dr. Ha strongly believes the PBL method can be employed in the Financial Mathematics training agenda so students can be better-prepared for work. Students are no longer instructed-learners but active thinkers and problem-solvers. Conclusion: Educators in fields such as Medical, Nursing, Engineering, Financial Mathematics, Ac-counting, Computing, etc., need to be prepared to change their teaching philosophy from didactic to problem solving for PBL to be implemented. Constructive alignment is recommended for curri-culum reform.展开更多
Background: The 11th Annual Conference of Asia-Pacific Risk and Insurance Association was held on July 22-25, 2007 in Taipei, Taiwan. The first author participated in this annual conference where he met the second aut...Background: The 11th Annual Conference of Asia-Pacific Risk and Insurance Association was held on July 22-25, 2007 in Taipei, Taiwan. The first author participated in this annual conference where he met the second author who was invited to deliver two plenary speeches on Corporate Governance and Financial Institution Regulation [1] and Alternative Investments for Financial Institutions [2]. The first author was then working as consultant with i-flex solutions, a subsidiary of Oracle and the second author was Vice President of Strategic Business Initiatives Units at ING Life Insurance in its Taiwan operation. The two authors decided to start collaborating on a research paper titled “Modeling Policyholder Behavior through Insurance Resonant Marts for Pricing Options and Guarantees.” The first version of the paper was submitted for research purposes to ING Insurance Risk Management Global Conference 2007 [3] which was held in Beijing, China. Although it was neither presented nor published, the working draft was constantly updated and revised. In 2015, after eight years of continuous research collaboration, the two authors decided to submit the final version of the paper to the 5th World Congress on Engineering and Technology for scholarly presentation. Aim: The competition in the insurance industry is extremely fierce. Insurance companies are under tremendous pressure to retain and increase their customer base, to offer services at attractive rates and provide returns competitive with mutual funds, equities and banks, to achieve profitability across various lines of insurance, to comply with statutory norms etc. Despite having the best of breeds, such as accountants, actuaries [4], lawyers, underwriters, IT experts, consultants, etc., many insurance companies face severe problems to cope with and survive under such pressures. Insurance companies are now striving towards creating innovative products that can match the expectation of the customers with respect to investment returns and risk coverage at competitive rates, which is a very challenging task. Also it is very important to measure the expectations of the customers keeping in mind that those customers are already owners of other financial products. Pricing always follows the expectations and without proper data support, Model risk is imminent. Even if a product is correctly priced, without understanding the behavior of the policyholder towards various financial products will lead to heavy lapses [4]. The authors describe a new framework called UIRDM Approach (Unified Insurance Resonant Data Mart) for the insurance companies wherein this approach stresses the need to think beyond the insurance boundaries.展开更多
文摘Background: Problem based learning (PBL) is an innovative way of delivering instruction in which problems are used as the basis of learning. Problem based learning was developed in the 1960s by Harold Barrows at McMaster University Medical School in Canada. Since then, PBL had been im-plemented as a teaching method in other reputable education institutions internationally, includ-ing nursing education. Curriculum reform is proposed through PBL in conjunction with patient simulation in undergraduate nursing education. The first author, Tan Kan Ku, PhD Candidate, MHS (Transcultural Mental Health—by Research) worked as a Registered Nurse for more than two decades internationally in England, New Zealand, Saudi Arabia and Australia, where she worked as a Case Manager in Community Mental Health Rehabilitation Program. Since 2001, she focused on nurse education and research into the stigma of mental illness from a cross-cultural perspective. Currently, she teaches Mental Health, Cultural Diversity and Research in the Diploma of Nursing course at Victoria University in Melbourne, Australia, while completing her PhD thesis for examination at Charisma University. The second author, Dr. Michael Ha, FSA, MAAA, CFA, CPA (Australia) FRM, PRM, LLM, is the Founding Director of the MSc Financial Mathematics programme at Xian Jiaotong-Liverpool University. He was previously Vice President of Strategic Business In-itiatives Units at ING Life Insurance in its Taiwan operation. Ninety percent of his students are enrolled in the Financial Mathematics programme. They learn not only mathematics and statistics theories but also their applications in the Finance and Investment areas, especially Portfolio Con-struction and Financial Risk Management. Creating a real-world Finance work environment in university lecture-halls embracing theories and practice, Dr. Ha strongly believes the PBL method can be employed in the Financial Mathematics training agenda so students can be better-prepared for work. Students are no longer instructed-learners but active thinkers and problem-solvers. Conclusion: Educators in fields such as Medical, Nursing, Engineering, Financial Mathematics, Ac-counting, Computing, etc., need to be prepared to change their teaching philosophy from didactic to problem solving for PBL to be implemented. Constructive alignment is recommended for curri-culum reform.
文摘Background: The 11th Annual Conference of Asia-Pacific Risk and Insurance Association was held on July 22-25, 2007 in Taipei, Taiwan. The first author participated in this annual conference where he met the second author who was invited to deliver two plenary speeches on Corporate Governance and Financial Institution Regulation [1] and Alternative Investments for Financial Institutions [2]. The first author was then working as consultant with i-flex solutions, a subsidiary of Oracle and the second author was Vice President of Strategic Business Initiatives Units at ING Life Insurance in its Taiwan operation. The two authors decided to start collaborating on a research paper titled “Modeling Policyholder Behavior through Insurance Resonant Marts for Pricing Options and Guarantees.” The first version of the paper was submitted for research purposes to ING Insurance Risk Management Global Conference 2007 [3] which was held in Beijing, China. Although it was neither presented nor published, the working draft was constantly updated and revised. In 2015, after eight years of continuous research collaboration, the two authors decided to submit the final version of the paper to the 5th World Congress on Engineering and Technology for scholarly presentation. Aim: The competition in the insurance industry is extremely fierce. Insurance companies are under tremendous pressure to retain and increase their customer base, to offer services at attractive rates and provide returns competitive with mutual funds, equities and banks, to achieve profitability across various lines of insurance, to comply with statutory norms etc. Despite having the best of breeds, such as accountants, actuaries [4], lawyers, underwriters, IT experts, consultants, etc., many insurance companies face severe problems to cope with and survive under such pressures. Insurance companies are now striving towards creating innovative products that can match the expectation of the customers with respect to investment returns and risk coverage at competitive rates, which is a very challenging task. Also it is very important to measure the expectations of the customers keeping in mind that those customers are already owners of other financial products. Pricing always follows the expectations and without proper data support, Model risk is imminent. Even if a product is correctly priced, without understanding the behavior of the policyholder towards various financial products will lead to heavy lapses [4]. The authors describe a new framework called UIRDM Approach (Unified Insurance Resonant Data Mart) for the insurance companies wherein this approach stresses the need to think beyond the insurance boundaries.
