• Communications for Statistical Applications and Methods
• /
• v.24 no.3
• /
• pp.211-226
• /
• 2017

The chain-ladder method, for which run-off data is employed is popularly used in the rate-adjustment and loss-reserving practices of non-life-insurance and health-insurance companies. The method is applicable when the underlying assumption of a consistent development pattern is in regards to a cumulative loss payment after the occurrence of an insurance event. In this study, a modified chain-ladder algorithm is proposed for when the assumption is considered to be only partially appropriate for the given run-off data. The concept of a structural-change point in the run-off data and its reflection in the estimation of unpaid loss amounts are discussed with numerical illustrations. Experience data from private health insurance coverage in Korea were analyzed based on the suggested method. The performance in estimation of loss reserve was also compared with traditional approaches. We present evidence in this paper that shows that a reflection of a structural-change point in the chain-ladder method can improve the risk management of the relevant insurance products. The suggested method is expected to be utilized easily in actuarial practice as the algorithm is straightforward.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.29 no.6
• /
• pp.1413-1424
• /
• 2019

Cryptocurrency has limitations to be used as an actual payment method due to the scalability problem of the blockchain consensus protocol, and various off-chain solutions to solve these limitations are being studied. In this paper, we design an efficient off-chain payment channel using one-way hash function and implement the designed payment channel using Ethereum smart contract. In addition, the experiment was conducted to measure and analyze execution time and cost for each method by deploying it in the same environment as the previously implemented plasma MVP. As a result, compared with plasma MVP, the proposed solution was able to reduce the total cumulative time by about 34% and reduce the overall execution cost by about 41%.

• Communications for Statistical Applications and Methods
• /
• v.15 no.4
• /
• pp.551-562
• /
• 2008

The loss reserve is defined as a provision for an insurer's liability for claims or an insurer's estimate of the amount an individual claim will ultimately cost. For the estimation of the loss reserve, the data which make up the claims in general is represented as run-off triangle. The chain ladder method has known as the most representative one in the estimation of loss reserves based on such run-off triangular data. However, this fails to capture change point in trend. In order to test of structural changes of development factors, we will present the test statistics and procedures. A real data analysis will also be provided.

• Journal of Animal Science and Technology
• /
• v.50 no.1
• /
• pp.111-120
• /
• 2008

The average milk fat content in goat milk was 3.88% on yearly basis. The milk fat content of 3.8% during summer season was lower than 4.2% during winter season. Total solid content increased in proportion to milk fat. When goat milk was stored at 4℃ for 24 hr, short-chain FFA(C4:0~C10:0) and medium- and long-chain FFA(C12:0~C18:1) increased about 106% and 203%, respectively. Induced lipolysis of goat milk by homogenization increased short-chain FFA and medium- and long-chain FFA by 22% and 199%. When goat milk was treated with calf lipase, there was increase of short-chain FFA by 9 times greater than increase of medium- and long-chain FFA by 5.6 times. Treatment with lipases from Candida rugosa and Pseudomonas fluorescens resulted in increase of medium- and long-chain FFA by 34 and 162 times, respectively, which was greater than increase of short-chain FFA by 6 and 14 times, respectively. Lipolysis in goat milk stored at 4℃ for 24 hr was correlated with LPL activity in goat milk(r=0.5635). Off-flavor of goat milk was correlated with LPL activity(r=0.5777). Milk fat content was negatively correlated with LPL activity(r=－0.4627). Palmitic acid content in goat milk was correlated with off-flavor(r=0.7226).

• Proceedings of the Korea Information Processing Society Conference
• /
• 2023.05a
• /
• pp.277-278
• /
• 2023

Smart contract는 Off-chain 데이터를 On-chain에서 조회해보지 못하는 "Blockchain Oracle Problem"을 갖고 있다. Oracle Problem을 적용할 때 실제 사용자 측면에서 어떠한 비용이 발생하는지 연구가 부족하다고 느껴, Chainlink 오라클 아키텍처 기반 시스템의 On-chain 비용을 측정할 수 있는 식을 제안한다. 그 결과 각 아키텍처마다 gas fee, oracle fee, latency의 차이를 확인한다.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.31 no.4
• /
• pp.715-729
• /
• 2021

Bitcoin is one of the cryptocurrencies, which is decentralized and transparent. However, due to its anonymity, it is currently being used for the purpose of transferring funds for illegal transactions in darknet markets. To solve this problem, clustering heuristic based on the characteristics of a Bitcoin transaction has been proposed. However, we found that the previous heuristis suffer from high false negative rates. In this study, we propose a novel heuristic for bitcoin clustering using off-chain data. Specifically, we collected and analyzed user review data from Silk Road 4 as off-chain data. As a result, 31.68% of the review data matched the actual Bitcoin transaction, and false negatives were reduced by 91.7% in the proposed method.

• Macromolecular Research
• /
• v.10 no.6
• /
• pp.297-303
• /
• 2002

We have investigated the microstructural properties of a weakly charged polyelectrolyte modeled with both Hookean spring and Debye-Huckel potential, by employing a novel hybrid scheme of molecular dynamics (MD) and Monte Carlo (MC) simulations. Although the off-lattice pivot step facilitates the earlier computations stage, it gives rise to oscillations and hinders the stable equilibrium state. In order to overcome this problem, we adopt the MC off-lattice pivot step in early stage only, and then switch the computation to a pure MD step. The result shows that the computational speed-up compared to the previous method is entirely above 10 to 50, without loss of the accuracy. We examined the conformations of polyelectrolyte in solvents in terms of the end-to-end distance, radius of gyration, and structure factor with variations of the screening effects of solvent and the monomer charges. The emphasis can favorably be given on the elongation behavior of a polyelectrolyte chain, with observing the simultaneous snapshots.

• Journal of Information Processing Systems
• /
• v.18 no.2
• /
• pp.173-187
• /
• 2022

A special government agency has been charged with implementing quality management to guarantee the quality of wild-simulated ginseng. However, these processes are carried out by use of documents, and this has resulted in information omission and high document management costs. To solve this problem, this study analyzed the existing quality management process by using a smart contract for the existing offline form and proposed a new quality management system for storing and managing all log data in the blockchain. This system reduced documentation management costs about quality management and recorded information in the previous step through the quality management steps, thus forming a step-by-step record chain. Experiments were conducted by implementing this system, which improved data integrity and reliability. Additionally, sensitive information, such as personal information, was included in the system by use of the off-chain technology.

• Journal of the Korean Data and Information Science Society
• /
• v.20 no.2
• /
• pp.411-423
• /
• 2009

In the current paper, by extending Verall (1990)'s work, we propose a new Bayesian model for analyzing run-off triangle data. While Verall's (1990) work only account for the calendar year and evolvement time effects, our model further accounts for the "absolute time" effects. We also suggest a Markov Chain Monte Carlo method that can be used for estimating the proposed model. We apply our proposed method to analyzing three empirical examples. The results demonstrate that our method significantly reduces prediction error when compared with the existing methods.

• Proceedings of the Korean Nuclear Society Conference
• /
• 2005.05a
• /
• pp.157-158
• /
• 2005