Jean Lemaire

Jean Lemaire
  • Harry J. Loman Professor of Insurance and Risk Management
  • Professor of Statistics
  • Professor of Actuarial Science
  • Professor of Business Economics and Public Policy

Contact Information

  • office Address:

    458 Jon M. Huntsman Hall
    3730 Walnut Street
    Philadelphia, PA 19104

Research Interests: evaluation of adverse selection in insurance markets due to genetic testing, merit-rating systems in automobile insurance, the impact of firearm deaths on life expectancies in the united states

Links: CV

Overview

Education

BS, Applied Mathematics, 1969, Summa Cum Laude, Université Libre de Bruxelles (U.L.B.)
Teaching Certificate, 1969, Summa Cum Laude, U.L.B.
MS, Actuarial Science, 1972, Summa Cum Laude, U.L.B.
Operations Research Certificate, 1972, U.L.B.
Ph.D., Mathematics, 1973, Summa Cum Laude, U.L.B.
Associate, Society of Actuaries, 1997

Jean Lemaire is the Harry J. Loman Professor of Insurance and Risk Management at the Wharton School. He holds a BS in mathematics, a MS in actuarial science, and a Ph.D. in applied mathematics, all obtained at the Free University of Brussels. He joined the Wharton School in 1987 as Director of the Actuarial Science Program.

Jean Lemaire has published over 100 research papers and books in game theory and actuarial science. He has lectured on insurance regulation and actuarial science in over 60 countries. His 1985 book “Automobile Insurance: Actuarial Models” was the insurance book-of-the-year both in Europe and in the US. His books have been translated in French, Spanish, Mandarin, Russian, Japanese, and Korean.

Jean Lemaire is a winner of the 1988 International Prize of the Italian Academy of Science, the most important prize awarded to insurance researchers in terms of amount and prestige. In 2008 he was elected Honorary Chairman of ASTIN, the non-life section of the International Actuarial Association, and received the Wharton School’s Hauck Award for excellence in teaching. His current research interests include the study of merit-rating systems in automobile insurance, the impact of genetic testing on insurance, and the consequences of gun violence.

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Research

Teaching

Current Courses

  • BEPP451 - Fund Of Act Sci I

    BEPP451401 ( Syllabus )

  • BEPP453 - Actuarial Statistics

    BEPP453401 ( Syllabus )

  • BEPP851 - Fund Of Act Sci I

    BEPP851401 ( Syllabus )

  • BEPP853 - Actuarial Statistics

    This course covers models for insurer's losses, and applications of Markov chains. Poisson processes, including extensions such as non-homogenous, compound, and mixed Poisson processes are studied in detail. The compound model is then used to establish the distribution of losses. An extensive section on Markov chains provides the theory to forecast future states of the process, as well as numerous applications of Markov chains to insurance, finance and genetics. The course is abundantly illustrated by examples from the insurance and finance literature. While most of the students takinig the course are future actuaries, other students interested in applications of statistics may discover in class many fascinating applications of stochastic processes and Markov chains.

    BEPP853401 ( Syllabus )

  • STAT451 - Fund Of Actuarial Sci I

    This course is the usual entry point in the actuarial science program. It is required for students who plan to concentrate or minor in actuarial science. It can also be taken by others interested in the mathematics of personal finance and the use of mortality tables. For future actuaries, it provides the necessary knowledge of compound interest and its applications, and basic life contingencies definition to be used throughout their studies. Non-actuaries will be introduced to practical applications of finance mathematics, such as loan amortization and bond pricing, and premium calculation of typical life insurance contracts. Main topics include annuities, loans and bonds; basic principles of life contingencies and determination of annuity and insurance benefits and premiums.

    STAT451401 ( Syllabus )

  • STAT453 - Actuarial Statistics

    This course covers models for insurer's losses, and applications of Markov chains. Poisson processes, including extensions such as non-homogeneous, compound, and mixed Poisson processes are studied in detail. The compound model is then used to establish the distribution of losses. An extensive section on Markov chains provides the theory to forecast future states of the process, as well as numerous applications of Markov chains to insurance, finance, and genetics. The course is abundantly illustrated by examples from the insurance and finance literature. While most of the students taking the course are future actuaries, other students interested in applications of statistics may discover in class many fascinating applications of stochastic processes and Markov chains.

    STAT453401 ( Syllabus )

  • STAT851 - Fund Of Actuarial Sci I

    This course is the usual entry point in the actuarial science program. It is required for students who plan to concentrate or minor in actuarial science. It can also be taken by others interested in the mathematics of personal finance and the use of mortality tables. For future actuaries, it provides the necessary knowledge of compound interest and its applications, and basic life contingencies definition to be used throughout their studies. Non-actuaries will be introduced to practical applications of finance mathematics, such as loan amortization and bond pricing, and premium calculation of typical life insurance contracts. Main topics include annuities,loans and bonds; basic principles of life contingencies and determination of annuity and insurance benefits and premiums.

    STAT851401 ( Syllabus )

  • STAT853 - Actuarial Statistics

    This course covers models for insurer's losses, and applications of Markov chains. Poisson processes, including extensions such as non-homogeneous, compound, and mixed Poissonprocesses are studied in detail. The compound model is then used to establish the distribution of losses. An extensive section on Markov chains provides the theory to forecast future states of the process, as well as numerous applications of Markov chains to insurance, finance, and genetics. The course is abundantly illustrated by examples from the insurance and finance literature. While most of the students taking the course are future actuaries, other students interested in applications of statistics may discover in class many fascinating applications of stochastic processes and Markov chains.

    STAT853401 ( Syllabus )

Past Courses

  • BEPP451 - FUND OF ACT SCI I

  • BEPP452 - FUND OF ACTUARIAL SCI II

    This course is the usual entry point in the actuarial science program. It is required for students who plan to concentrate or minor in actuarial science. It can also be taken by others interested in the mathematics of personal finance and the use of mortality tables. For future actuaries, it provides the necessary knowledge of compound interest and its applications, and basic life contingencies definition to be used throughout their studies. Non-actuaries will be introduced to practical applications of finance mathematics, such as loan amortization and bond pricing, and premium calculaton of typical life insurance contracts. Main topics include annuities, loans and bonds; basic principles of life contingencies and determinaton of annuity and insurance benefits and premiums.

  • BEPP453 - ACTUARIAL STATISTICS

  • BEPP454 - APPL STAT METHD FOR ACTU

    One half of the course is devoted to the study of time series, including ARIMA modeling and forecasting. The other half studies modificatons in random variables due to deductibles, co-payments, policy limits, and elements of simulaton. This course is a possible entry point into the actuarial science program. No INSR course is a pre-requisite for INSR 854. The Society of Actuaries has approved INSR 854 for VEE credit on the topic of time series.

  • BEPP851 - FUND OF ACT SCI I

  • BEPP852 - FUND OF ACTUARIAL SCI II

    This specialized course is usually only taken by Wharton students who plan to concentrate in actuarial science and Penn students who plan to minor in actuarial science mathematics. It provides a comprehensive analysis of advanced life contingencies problems such as reserving, multiple life functions, multiple decrement theory with applicaton to the valuation of pension plans.

  • BEPP853 - ACTUARIAL STATISTICS

    This course covers models for insurer's losses, and applications of Markov chains. Poisson processes, including extensions such as non-homogenous, compound, and mixed Poisson processes are studied in detail. The compound model is then used to establish the distribution of losses. An extensive section on Markov chains provides the theory to forecast future states of the process, as well as numerous applications of Markov chains to insurance, finance and genetics. The course is abundantly illustrated by examples from the insurance and finance literature. While most of the students takinig the course are future actuaries, other students interested in applications of statistics may discover in class many fascinating applications of stochastic processes and Markov chains.

  • BEPP854 - APPL STAT METHD FOR ACTU

    One half of the course is devoted to the study of time series, including ARIMA modeling and forecasting. The other half studies modificatons in random variables due to deductibles, co-payments, policy limits, and elements of simulation. This course is a possibly entry point into the actuarial science program. No INSR course is a pre-requisite for INSR 854. The Society of Actuaries has approved INSR 854 for VEE credit on the topic of time series.

  • STAT399 - INDEPENDENT STUDY

  • STAT451 - FUND OF ACTUARIAL SCI I

    This course is the usual entry point in the actuarial science program. It is required for students who plan to concentrate or minor in actuarial science. It can also be taken by others interested in the mathematics of personal finance and the use of mortality tables. For future actuaries, it provides the necessary knowledge of compound interest and its applications, and basic life contingencies definition to be used throughout their studies. Non-actuaries will be introduced to practical applications of finance mathematics, such as loan amortization and bond pricing, and premium calculation of typical life insurance contracts. Main topics include annuities, loans and bonds; basic principles of life contingencies and determination of annuity and insurance benefits and premiums.

  • STAT452 - FUND OF ACTUARIAL SCI II

    This specialized course is usually only taken by Wharton students who plan to concentrate in actuarial science and Penn students who plan to minor in actuarial mathematics. It provides a comprehensive analysis of advanced life contingencies problems such as reserving, multiple life functions, multiple decrement theory with application to the valuation of pension plans.

  • STAT453 - ACTUARIAL STATISTICS

    This course covers models for insurer's losses, and applications of Markov chains. Poisson processes, including extensions such as non-homogeneous, compound, and mixed Poisson processes are studied in detail. The compound model is then used to establish the distribution of losses. An extensive section on Markov chains provides the theory to forecast future states of the process, as well as numerous applications of Markov chains to insurance, finance, and genetics. The course is abundantly illustrated by examples from the insurance and finance literature. While most of the students taking the course are future actuaries, other students interested in applications of statistics may discover in class many fascinating applications of stochastic processes and Markov chains.

  • STAT454 - APPL STAT METHD FOR ACTU

    One half of the course is devoted to the study of time series, including ARIMA modeling and forecasting. The other half studies modifications in random variables due to deductibles, co-payments, policy limits, and elements of simulation. This course is a possible entry point into the actuarial science program. The Society of Actuaries has approved STAT 854 for VEE credit on the topic of time series.

  • STAT851 - FUND OF ACTUARIAL SCI I

    This course is the usual entry point in the actuarial science program. It is required for students who plan to concentrate or minor in actuarial science. It can also be taken by others interested in the mathematics of personal finance and the use of mortality tables. For future actuaries, it provides the necessary knowledge of compound interest and its applications, and basic life contingencies definition to be used throughout their studies. Non-actuaries will be introduced to practical applications of finance mathematics, such as loan amortization and bond pricing, and premium calculation of typical life insurance contracts. Main topics include annuities,loans and bonds; basic principles of life contingencies and determination of annuity and insurance benefits and premiums.

  • STAT852 - FUND OF ACTUARIAL SCI II

    This specialized course is usually only taken by Wharton students who plan to concentrate in actuarial science and Penn students who plan to minor in actuarial mathematics. It provides a comprehensive analysis of advanced life contingencies problems such as reserving, multiple life functions, multiple decrement theory with application to the valuation of pension plans.

  • STAT853 - ACTUARIAL STATISTICS

    This course covers models for insurer's losses, and applications of Markov chains. Poisson processes, including extensions such as non-homogeneous, compound, and mixed Poissonprocesses are studied in detail. The compound model is then used to establish the distribution of losses. An extensive section on Markov chains provides the theory to forecast future states of the process, as well as numerous applications of Markov chains to insurance, finance, and genetics. The course is abundantly illustrated by examples from the insurance and finance literature. While most of the students taking the course are future actuaries, other students interested in applications of statistics may discover in class many fascinating applications of stochastic processes and Markov chains.

  • STAT854 - APPL STAT METHD FOR ACTU

    One half of the course is devoted to the study of time series, including ARIMA modeling and forecasting. The other half studies modifications in random variables due to deductibles, co-payments, policy limits, and elements of simulation. This course is a possible entry point into the actuarial science program. The Society of Actuaries has approved STAT 854 for VEE credit on the topic of time series.

Awards and Honors

  • Wharton Undergraduate Excellence in Teaching Award, 2012
  • Wharton Undergraduate Excellence in Teaching Award, 2011
  • Wharton Undergraduate Excellence in Teaching Award, 2008
  • Wharton Hauck Award for Excellence in Teaching by a Tenured Faculty Member, 2008
  • Elected honorary Chairman of ASTIN, 2008
  • Wharton Undergraduate Excellence in Teaching Award, 2007
  • Wharton Undergraduate Excellence in Teaching Award, 2006
  • Wharton Undergraduate Excellence in Teaching Award, 2004
  • Elected Honorary Fellow of the Institute of Actuaries, 2001
  • Best feature paper award, Journal of Risk and Insurance, 2000
  • Clarence Arthur Kulp Memorial Award, American Risk and Insurance Association, 1997
  • International INA-Lincei Prize, Italian Academy of Sciences, 1988
  • Clarence Arthur Kulp Memorial Award, American Risk and Insurance Association, 1987
  • Ernst Meyer Prize, Geneva Association, 1986

Activity

Latest Research

Jean Lemaire, Sojung C. Park, Kili Wang (2016), Further Comments on the Paper “Setting a Bonus–Malus Scale in the Presence of Other Rating Factors” by Taylor, European Actuarial Journal, 6 (2), pp. 495-499.
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In the News

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Knowledge @ Wharton - 2013/06/25
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Awards and Honors

Wharton Undergraduate Excellence in Teaching Award 2012
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