Kenneth Q. Zhou is an Assistant Professor of Actuarial Science in the School of Mathematical and Statistical Sciences. He received his PhD in Actuarial Science from the University of Waterloo, and joined Arizona State University in Fall 2019. He is a Fellow of the Society of Actuaries (FSA) and an associate of the Canadian Institute of Actuaries (ACIA). He was also a Society of Actuaries James C. Hickman scholar from 2015 to 2019.
Kenneth’s research interests include insurance risk management, insurance data analytics, and Bayesian modeling and forecasting. In particular, he studies the technical and economic issues underlying life insurance practices, including stochastic mortality modeling and longevity risk management. His work also involves adapting statistical techniques to solve data-driven challenges and identify the source of financial and insurance risks. Some of his recent work focus on eradicating discrimination issues in actuarial modeling and pricing from the Bayesian perspective.
Kenneth’s research work has been published in statistical, actuarial and insurance journals, including the Journal of the Royal Statistical Society: Series A, Insurance: Mathematics and Economics, and Journal of Risk and Insurance. Some of his research findings are also published in professional publications, such as the Actuary Magazine and the Living to 100 Monograph. His paper on dynamic longevity hedging won the 2019 Redington Prize from the Society of Actuaries. Kenneth is also a frequent presenter at international conferences and university seminars, where he diligently disseminate his most recent research findings.
Kenneth is committed to actuarial education, mentorship and curriculum development. He has been teaching undergraduate and graduate courses in actuarial science and statistics. At Arizona State University, he has developed two new courses, entitled "Advanced Mortality Modeling and Management of Longevity Risk" and “Quantitative Risk Management”. Kenneth also supervises students at all levels, including undergraduate honors thesis, graduate applied project and PhD dissertation.
Yang S. & Zhou, K.Q. (2023). On risk management of mortality and longevity capital requirement: A predictive simulation approach. Risks, 11(12), 206.
Zhu, X. & Zhou, K.Q. (2023). Smooth projection of mortality improvement rates: A Bayesian two-dimensional spline approach. European Actuarial Journal, 13(1), 277-305.
Zhou, K.Q. & Li, J.S.-H. (2023). The impact of long memory in mortality differentials on index-based longevity hedges. Journal of Demographic Economics, 89(3), 533-552.
Zhou, H., Zhou, K.Q., & Li X. (2022). Stochastic mortality dynamics driven by mixed fractional Brownian motion. Insurance: Mathematics and Economics, 106, 285-301.
Feng, M., Li, J.S.-H., & Zhou, K.Q. (2022). Green nested simulation via likelihood ratio applications to longevity risk management. Insurance: Mathematics and Economics, 106, 218-238.
Zhou, K.Q. & Li, J.S.-H. (2021). Longevity Greeks: What do insurers and capital market investors need to know? North American Actuarial Journal, 25(Sup1), S66-S96.
Li, J.S.-H., Li, J., Balasooriya, U., & Zhou, K.Q. (2021). Constructing out-of-the-money longevity hedges using parametric mortality indexes. North American Actuarial Journal, 25(Sup1), S341-S372.
Zhou, K.Q. & Li, J.S.-H. (2020). Asymmetry in mortality volatility and its implications on index-based longevity hedging. Annals of Actuarial Science, 14(2), 278-301.
Li, J.S.-H., Zhou, K.Q., Zhu, X., Chan, W.-S., & Chan, F.W.-H. (2019). A Bayesian approach to developing a stochastic mortality model for China. Journal of the Royal Statistical Society: Series A (Statistics in Society), 182(4), 1523-1560.
Zhou, K.Q. & Li, J.S.-H. (2019). Delta-hedging longevity risk under the M7-M5 model: The impact of cohort effect uncertainty and population basis risk. Insurance: Mathematics and Economics, 84, 1-21.
Zhou, K.Q. & Li, J.S.-H. (2017). Dynamic longevity hedging in the presence of population basis risk: A feasibility analysis from technical and economic perspectives. Journal of Risk and Insurance, 84(S1), 417-437.
Chan, W.-S., Li, J.S.-H., Zhou, K.Q., & Zhou, R. (2016). Towards a large and liquid longevity market: A graphical population basis risk metric. Geneva Papers on Risk and Insurance - Issues and Practice, 41(1), 118-127.
Research Activity
Zhou, K.Q. & Zhu, X. A Bayesian generalized additive model approach to forecasting mortality improvement with expert Information. Preprint available at SSRN.
Chen, Z., Li, H. Mao, Y. & Zhou, K.Q. Mitigating Financial Impact of Pandemics: A Collaborative Pandemic Bond Approach. Preprint available at SSRN.
Zhou, R., Li, J.S.-H., & Zhou, K.Q. The role of longevity annuities in different socioeconomic classes: A Canadian case study. Preprint available at SSRN.
