黑料传送门

Institute of Insurance Science

Consultation hour

By email appointment

CV

  • Current Position: Lecturer and Researcher at the Insitute of Insurance Science, Ulm University
  • 2025: Habilitation in Actuarial Science, Ulm University
  • 2019: Ph.D. in Management and Economics (Dr. rer. pol.) with focus Behavioral Insurance, Institute of Insurance Science, Ulm Univeristy
  • 2014: Master of Science in Mathematics and Management, Ulm University
  • 2014: Master of Science in Mathematics, Syracuse University, NY, USA

For further information see

Teaching

List of Lectures and Seminars

Bachelor's and Master's Thesis

If there is interest in writing a bachelor's or master's thesis, I am always available for inquiries. Please find some more information here.

Past Supervised Theses

2025

  • Beitragszerlegung in der Personenversicherung: Verfahren zur Bestimmung des Risikobeitrags pro Ereignis mittels der Thielschen Differenzengleichung
  • Versicherung und Risikoaversion: Eine Sozio枚konomische Analyse
  • Eigenkapitalbedarf im Marktrisikomanagement: Grenzen traditioneller VaR-Skalierung und Potenzial von Bootstrapping
  • Mehrzustandsmodelle in der Lebensversicherung: Modellierung von Gesundheitsbonusprogrammen
  • Analyse des ausl枚senden Faktors in der privaten Krankenversicherung in einem stochastischen Modell
  • Erkl盲rbarkeitsmethoden f眉r Neuronale Netze am Beispiel eines fiktiven Versicherungsbestandes
  • Exploring Intergenerational and Intertemporal Smoothing Mechanisms for Stable Retirement Withdrawals

2024

  • Auswirkungen der subjektiven Wahrnehmung auf die Bewertung von Altersvorsorgeprodukten
  • Attractiveness of common withdrawal rules in old age from a policyholder perspective
  • Analysis of Variable Annuity Valuation Using Machine Learning Methods
  • On the Impact of Subjective Probability Beliefs and Discounting on the Attractiveness of Withdrawal Strategies in Old Age
  • Analysis of a Generic Return Smoothing Mechanism in Insurer's Cover Funds
  • Insurance Capital Standard: Overview and an Analysis of the Interest Rate Charge
  • Global Insurance Capital Standard: Analysis of the Capital Requirements for Market Risks
  • Analysis of Surplus in Life Insurance based on Thiele麓s Differential Equation
  • Climate Risk Perception among Professionals 鈥� An Empirical Analysis of the Role of Behavioral Risk Management in Insurance
  • A New Fuzzy Logic Strategy for Multi-Criteria Decision Making with Applications in Insurance
  • Fairness und Nachhaltigkeit der gesetzlichen Renten: Analyse der Risikoteilungs- Mechanismen unter Ber眉cksichtigung des Rentenpakets II
  • Machine Learning Methods in Insurance with an Application to Fraud Detection
  • Modeling and Valuation of Sustainability-Linked Bonds in the Light of Shock Events
  • Einzelvertragliche Bewertung von Garantien bei kollektiver Kapitalanlage: Analyse von Zuordnungsregeln der Verm枚genswerte
  • A Study on Qutlier Analysis and Stochastic Methods for Sharp Internal Estimation of Ultimate Claims in Loss Reserving
  • Sterblichkeitsmodellierung in der Lebensversicherung - datenbasierte Herleitung und Analyse von altersabh盲ngigen Quoten
  • Analysis of various smoothing mechanisms in life insurance
  • Modellierung der Berufsunf盲higkeitsversicherung mit Gesundheitsbonus mittels Markov-Ketten
  • Auswirkungen neuer Produkte auf die Deckungsr眉ckstellungen nach HGB und die Bilanzierungssysteme
  • Approximative Bewertung von Garantien in der Lebensversicherung auf Basis der Black-Scholes-Formel
  • Analyse des Kundenverhaltens bei Antragstellung: Quantifizierung der Auswirkung auf das Gesamtvotum

2023

  • On the Explainability of Machine Learning Methods in Internal Models
  • Analysis of Sustainability Reports using Text Mining Approaches
  • Identifizierung repr盲sentativer Risikoszenarien mittels Data Analytics
  • The Impact of Artificial Intelligence on the Insurance Industry and its Products
  • Grundlagen der Fuzzy-Logik und ihre Anwendung zur Modellierung der Anlagestrategie von Versicherungsnehmern bei fondsgebundenen Lebensversicherungen

Field of Research

  • Behavioral insurance
  • Aspects of retirement savings (optimal saving, guarantees, annuity puzzle, etc.)
  • Prospect theory

Video with some insights:

Scientific Publications and Preprints

  • An Chen & Stefan Schelling: Exploring Health Improvement Incentives Through Wellness-linked Products,  Insurance: Mathematics and Economics, 2026, []
  • Jochen Ru脽, Stefan Schelling, & Benedikt Schultze: The Benefits of Return Smoothing in Insurer鈥檚 Cover Funds 鈥� Analyses From a Client鈥檚 Perspective, The European Journal of Finance, 2024, [], [Link Preprint]
  • Jochen Ru脽, Stefan Schelling, & Benedikt Schultze: What to Offer If Consumers Do Not Want What They Need? A Simultaneous Evaluation Approach with an Application to Retirement Savings Products, European Actuarial Journal, 2023, [] , [Link Preprint]
  • An Chen, Stefan Schelling, & Nils S酶rensen: On the Impact of Low Interest Rates on Common Withdrawal Rules in Old Age, The European Journal of Finance, 2022, []
  • Jochen Ru脽 & Stefan Schelling: Return smoothing in life insurance from a client perspective, Insurance: Mathematics and Economics, 2021 []
    • Previous version: Return smoothing and risk sharing elements in life insurance from a client perspective, Preprint, [Link]
  • Stefan Graf, Jochen Ru脽, & Stefan Schelling: As you like it: Explaining the demand for life-cycle funds with multi cumulative prospect theory, Risk Management and Insurance Review, 22(2): 221鈥� 238, 2019 []
  • Andreas Richter, Jochen Ru脽, & Stefan Schelling: Insurance Customer Behavior: Lessons from Behavioral Economics, Risk Management and Insurance Review 22(2): 183鈥� 205, 2019 []
  • Jochen Ru脽 & Stefan Schelling: Multi Cumulative Prospect Theory and the Demand for Cliquet-Style Guarantees, Journal of Risk and Insurance 85(4): 1103鈥�1125, DOI: 10.1111/jori.12195, 2018, ]
    • Awarded with the by Deutsches Institut f眉r Altersvorsorge

Preprints:

  • Alexander Kling, Timon Kramer, Jochen Ru脽, & Stefan Schelling: Intertemporal smoothing and intergenerational risk sharing: The impact on objective utility and subjective attractiveness of retirement savings products, Preprint 2024, []
  • Stefan Schelling: When and how framing makes annuitization appealing: a model-based analysis, Preprint 2018, [Link]

Dissertation:

  • Behavioral Aspects of Product Design and Demand in Retirement Savings []
    • Awarded with by the Geneva Association, by the German Society for Insurance and Financial Mathematics (DGVFM) and the German Actuarial Association (DAV), of the Association for the Advancement of Insurance Research in Hamburg, by the Association for the Advancement of Insurance Research in Berlin, by the Financial Planning Standards Board Deutschland e.V. (FPSB Deutschland).

Further Publications

  • Andreas Richter, Jochen Ru脽, & Stefan Schelling: Moderne Verhaltens枚konomie in der Ruhestandsplanung. In Ruhestandsplanung-Beratungsansatz f眉r die Zielgruppe 50plus. Springer Gabler, Wiesbaden, 2020, []
  • Andreas Richter, Jochen Ru脽, & Stefan Schelling: Moderne Verhaltens枚konomie in der Versicherungswirtschaft - Denkanst枚脽e f眉r ein besseres Verst盲ndnis der Kunden, Springer Gabler, DOI: 10.1007/978-3-658-19841-1, 2018, []
  • Jochen Ru脽 & Stefan Schelling: Bedarfsgerecht, aber unbeliebt鈥� Nutzen und Akzeptanz der lebenslangen Rente. Studie, 2018 []
    • Jochen Ru脽 & Stefan Schelling: Die lebenslangen Rente: Bedarfsgerecht, aber unbeliebt. I-VW-HSG Trendmonitor, Ausgabe 1/2019
    • Jochen Ru脽 & Stefan Schelling: Bedarfsgerecht, aber unbeliebt鈥� Nutzen und Akzeptanz der lebenslangen Rente. Versicherungsrundschau, Ausgabe 10/18
    • Jochen Ru脽 & Stefan Schelling: Wie man das Rentenratsel l枚st. Cash.Special Versicherungen, Ausgabe 02/2018

Selected Talks

  • 04/2024 MAF Conference, Le Havre - On the the economics of wellness-linked insurances
  • 03/2024 EAA Convention A, e-conference - On the the economics of wellness-linked insurances
  • 02/2024 Ulm Actuarial Day, Ulm - On the the economics of wellness-linked insurances
  • 12/2022  CEAR/MRIC Behavioral Insurance Workshop, Munich - Discussion
  • 09/2022  EAA Convention A, e-conference [] - Guarantees in retirement planning: How can we help consumers to want what they need []
  • 03/2022  ZAWIW Fr眉hjahrsakademie, Ulm [] - Subjektive Risikowahrnehmung und kollektive Risikoabsicherung
  • 04/2020  DAV/DGVFM Jahrestagung, e-conference [] - Behavioral Aspects of Product Design and Demand in Retirement Savings
  • 10/2019   Risk and Statistics - 2nd ISM-UUlm Joint Workshop, Ulm
  • 03/2019   2nd Ulm Actuarial Day, Ulm [] - Return Smoothing and Risk Sharing Elements in Life Insurance from a Client Perspective
  • 12/2018   CEAR/MRIC Behavioral Insurance Workshop, Munich
  • 09/2018   Deutsche R眉ck Leben Forum, D眉sseldorf
  • 08/2018   Annual Meeting American Risk and Insurance Association (ARIA), Chicago
  • 06/2018   International Congress of Actuaries (ICA), Berlin
  • 03/2017   Jahrestagung Deutscher Verein f眉r Versicherungswissenschaften, Berlin
  • 12/2016   CEAR/MRIC Behavioral Insurance Workshop, Munich
  • 08/2015   World Risk and Insurance Economics Congress (WRIEC), Munich
  • 06/2015   Congress on Insurance: Mathematics and Economics (IME), Liverpool

Other Activities

  • Contact Person
    • Contact person for questions related to Actuarial Exams (DAV) at Ulm University
    • Contact person for "Masterstudium Aktuarwissenschaften mit vertiefter Praxis"
    • Managing Jury Member of the SCOR Actuarial Award (Germany)
  • University (Committee) Service
    • Member of the Faculty Council (Mathematics and Economics) - since 2021
    • Member of the Licensing Commitee M. Sc. Aktuarwissenschaften - since 2023
    • Member of the Interdisciplinary Examination Board for Professional Education Programs - since 2025
    • Deputy member of the Licensing Committee M.Sc. Finance - since 2021
  • Organization of Scientific Conferences
    • 2021: Member of the Organizing Committee of the (virtual) []
    • 2016 - 2018: Assistant of the Scientific Committee of the []
  • Referee Service for Academic Journals
    • Annals of Actuarial Science, ASTIN Bulletin, European Actuarial Journal, Journal of Risk and Insurance, etc.
  • Selected Memberships and other Professional Services
    • Akademie f眉r Wissenschaft, Wirtschaft und Technik der Universit盲t Ulm e.V.
    • American Risk and Insurance Association (ARIA)
    • Deutsche Gesellschaft f眉r Versicherungs- und Finanzmathematik e.V. (DGVFM)
      • Member of the 鈥淎usschuss Hochschulausbildung, Aus- und Weiterbildung鈥� (HAW) - since 2025
    • Verein zur F枚rderung der Versicherungswissenschaft in Berlin e.V.