Hickman Larson Chair of Actuarial Science
Risk and Insurance Department


Degree
PhD, University of North Carolina
Edward W. (Jed) Frees is a Fellow of both the Society of Actuaries (SoA) and the American Statistical Association (ASA). There are about twenty seven thousand members of the SoA and twenty thousand members of the ASA: of these, Professor Frees is the only Fellow of both organizations. He served as founding chairperson of the Society of Actuaries' Education and Research Section as well as a member of the Board of Directors of the Society of Actuaries; he has also served as a Trustee of the Actuarial Foundation. In 1999, Professor Frees served as an actuarial representative to the Social Security Advisory Board's Technical Panel on Methods and Assumptions; this panel provided advice to the federal government on the long-term solvency of the Social Security system. Professor Frees was the Editor and is currently on the Honorary Advisory Board for the North American Actuarial Journal. He is also an Associate Editor for Insurance: Mathematics and Economics and Annals of Actuarial Science.
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Award Winning Papers:

  • Stochastic life contingencies with solvency considerations (with discussion) (1990). Transactions of the Society of Actuaries 42, 91-148. This paper was awarded the Society of Actuaries' 1991 Annual Prize for best paper published by the Society and the Actuarial Education and Research Fund's 1992 Halmstad Prize for best paper in the actuarial literature.
  • Had three papers that shared the inaugural 1997 Edward A. Lew award (a $15,000 prize), for the “best paper in insurance modeling.” The papers selected were: (1) “Forecasting Social Security Actuarial Assumptions” (Frees, Kung, Rosenberg, Young and Lai), (2) “Understanding Relationships Using Copulas” (Frees and Valdez) and (3) “A Longitudinal Data Analysis Interpretation of Credibility Models” (E.W. Frees, V.R. Young and Y. Luo).
  • International property-liability insurance consumption (M.J. Browne, J. Chung and E.W. Frees). Journal of Risk and Insurance 67, 73-90. This paper won the Research Award, given by the International Insurance Society, for the best paper presented at their 1997 annual meeting.
  • Awarded the 1998 Halmstad Prize by the Actuarial Education and Research Fund for the paper, “Annuity valuation with dependent mortality” (E. W. Frees, J. Carriere and E. Valdez) Journal of Risk and Insurance 63, 229-261.
  • Awarded the 1999 Halmstad Prize by the Actuarial Education and Research Fund for the paper, “Forecasting Social Security actuarial assumptions (with discussion)” (E.W. Frees, Y.-C. Kung, M. Rosenberg, V. Young and S.-W. Lai) North American Actuarial Journal volume 1, No. 4, 49-82.
  • Awarded the 2010 Hachemeister Prize by the Casualty Actuarial Society for the best paper published by the International Actuarial Association in a given year. The award was for the paper, “Actuarial applications of a hierarchical insurance model” (Edward Frees, Peng Shi and Emiliano Valdez) published in the Astin Bulletin 39 (1), 165-197.
  • Awarded the 2011 Halmstad Prize by the Actuarial Foundation for the best paper published in the actuarial literature in a given year. The award was for the paper, "Hierarchical insurance claims modeling published in the Journal of the American Statistical Association, (Edward Frees and Emiliano Valdez) Vol. 103(484), 1457-1469.
  • Awarded the 2015 ARIA Award (American Risk Insurance Association) by the Casualty Actuarial Society for the paper "Insurance Ratemaking and a Gini Index" published in the Journal of Risk and Insurance (Edward Frees, Glenn Meyers and A. David Cummings) Vol. 81 (2), 335-366.
  • Awarded the 2018 Kulp-Wright Book Award by the American Risk Insurance Association for co-Editing the book Predictive Modeling Applications in Actuarial Science: Case Studies in Insurance (Cambridge University Press, 2016).
  • Awarded the 2017 Annual Prize by the Society of Actuaries for the best paper published by the Society in a given year. The award was for the paper, "Insurance portfolio risk retention" published in the North American Actuarial Journal 21 (4), 526-551.


Other Representative Papers:

  • Nonparametric renewal function estimation. Annals of Statistics 14, 1366-1378, 1986.
  • Understanding relationships using copulas (E. W. Frees and E. Valdez). North American Actuarial Journal 2 (1), 1-25, 1998. This article has been reprinted in The Foundations of Credit Risk Analysis (2007).
  • Estimating the volatility of discrete stock prices. (D. Cho and E. Frees) Journal of Finance 43, 451-466, 1988. A more detailed version of this paper has been reprinted in Research in Finance, volume 8 (1990), pp. 23-57, JAI Press.
  • Assessing cross-sectional correlations in panel data. Journal of Econometrics 68, 393-414, 1995.
  • Influence diagnostics for longitudinal models (M. Banerjee and E. W. Frees). Journal of the American Statistical Association 92, 999-1005, 1997.
  • Multilevel model prediction. (E.W. Frees and J.-S. Kim) Psychometrika 71(1), 79-104, 2006 .
  • Summarizing insurance scores using a Gini index (Edward Frees, Glenn Meyers and A. David Cummings). Journal of the American Statistical Association 106, 1085-1098, 2011.
    Some Working Papers (in pdf format):

    Pension Plan Turnover and Social Security Reports:

    Recent Presentations: