In 2011 Alkhazaleh and Salleh defined the concept of soft expert sets where the user can know the opinion of all the experts in one model and give an application of this concept in decision‐making problems. Also, they introduced the concept of the fuzzy soft expert set as a combination between the soft expert set and the fuzzy set. In 2010 Majumdar and Samanta presented the concept of a generalized fuzzy soft sets. The purpose of this paper is to combine the work of Alkhazaleh and Salleh (2011) and Majumdar and Samanta (2010), from which we can obtain a new concept: generalized fuzzy soft expert sets (GFSESs). We also introduce its operations, namely, complement, union intersection, “AND” and “OR”, and study their properties. The generalized fuzzy soft expert sets are used to analyze a decision‐making problem. Also in our model the user can know the opinion of all experts in one model. In this work we also introduce the concept of a generalized fuzzy soft expert sets with multiopinions (four opinions), which will be more effective and useful. Finally, we give an application of this concept in decision‐making problem.

Background: Within a setting without organised breast cancer screening, the characteristics and survival of very early breast cancer were determined. Methods: All 4930 women diagnosed with breast cancer in University Malaya Medical Center, Malaysia from 1993 to 2011 were included. Factors associated with very early presentation (stage I) at diagnosis were identified. Tumour characteristics, management patterns, and survival of very early breast cancer were described, and where appropriate, compared with other settings. Results: Proportion of women presenting with stage I breast cancer significantly increased from 15.2% to 25.2% over two decades. Factors associated with very early presentation were Chinese ethnicity, positive family history of breast cancer, and recent period of diagnosis. Within stage I breast cancers, median tumour size at presentation was 1.5 cm. A majority of stage I breast cancer patients received mastectomy, which was associated with older age, Chinese ethnicity, postmenopausal status, and larger tumours. Chemotherapy was administered in 36% of patients. Five-year age-adjusted relative survival for women with stage I breast cancer was 99.1% (95% CI: 97.6–99.6%). Conclusions: The proportion of women presenting with very early breast cancer in this setting without organised screening is increasing. These women seem to survive just as well as their counterparts from affluent settings.

Earthquake contingency costs in traditional insurance cannot provide sufficient earthquake funding for a country because they often differ significantly from actual losses. Over the last three decades, this approach has been replaced by linking earthquake insurance to bonds in the capital market; this is now known as the earthquake catastrophe bond (ECB). Through the ECB, contingency costs become larger and more sustainable earthquake funds. Unfortunately, there are challenges in ECB issuance, as the pricing framework does not yet have standard rules and still needs to be studied. Therefore, the objective of this study is to systematically review how the ECB pricing framework is designed. The method used in this review is PRISMA. First, articles aiming to design an ECB pricing framework were collected from the Scopus, Science Direct, and Dimensions databases on 22 March 2023. Then, the results were selected, resulting in eleven relevant articles. Then, the articles’ pricing frameworks were reviewed based on variables, methods, trigger events, coupon and redemption value payment schemes, and the model solution forms. Finally, several research opportunities for academics are also outlined. This research constitutes a reference for ECB issuers during the pricing process and can motivate academics to design more useful ECB pricing models.

The population of many countries might undergo dramatic changes in the coming decades due to continuous increases in life expectancy. The sustained reduction in mortality rates and its systematic underestimation has been attracting the significant interest of researchers in recent years because of its potential impact on population size and structure, social security systems, and (from an actuarial perspective) the life insurance and pensions industry worldwide. Among all projection methods, the Lee-Carter method has been widely accepted by the actuarial community. This paper explores the use of the Lee-Carter method to forecast the mortality rates for Malaysian population. The index of the level of mortality for each gender, and the shape and sensitivity coefficients for 18 age groups were obtained through the Lee-Carter method. The Singular Values Decomposition (SVD) is used to forecast the general index for the time period that goes from 2011 to 2030. Since the model involves nonlinear equations that are explicitly difficult to solve, the Matrix Laboratory Version 7.0 (MATLAB 7.0) software will be used in the study. The empirical data sets of Malaysia population for the period of 1981-2010 and for both genders will be considered.

Traditional insurance’s earthquake contingency costs are insufficient for earthquake funding due to extreme differences from actual losses. The earthquake bond (EB) links insurance to capital market bonds, enabling higher and more sustainable earthquake funding, but challenges persist in pricing EBs. This paper presents zero-coupon and coupon-paying EB pricing models involving the inconstant event intensity and maximum strength of extreme earthquakes under the risk-neutral pricing measure. Focusing on extreme earthquakes simplifies the modeling and data processing time compared to considering infinite earthquake frequency occurring over a continuous time interval. The intensity is accommodated using the inhomogeneous Poisson process, while the maximum strength is modeled using extreme value theory (EVT). Furthermore, we conducted model experiments and variable sensitivity analyses on EB prices using earthquake data from Indonesia’s National Disaster Management Authority from 2008 to 2021. The sensitivity analysis results show that choosing inconstant intensity rather than a constant one implies significant EB price differences, and the maximum strength distribution based on EVT matches the data distribution. The presented model and its experiments can guide EB issuers in setting EB prices. Then, the variable sensitivities to EB prices can be used by investors to choose EB according to their risk tolerance.

Improvement in life expectancies has driven further declines in mortality. The sustained reduction in mortality rates and its systematic underestimation has been attracting the significant interest of researchers in recent years because of its potential impact on population size and structure, social security systems, and (from an actuarial perspective) the life insurance and pensions industry worldwide. Among all forecasting methods, the Lee-Carter model has been widely accepted by the actuarial community and Heligman-Pollard model has been widely used by researchers in modelling and forecasting future mortality. Therefore, this paper only focuses on Lee-Carter model and Heligman-Pollard model. The main objective of this paper is to investigate how accurately these two models will perform using Malaysian data. Since these models involves nonlinear equations that are explicitly difficult to solve, the Matrix Laboratory Version 8.0 (MATLAB 8.0) software will be used to estimate the parameters of the models. Autoregressive Integrated Moving Average (ARIMA) procedure is applied to acquire the forecasted parameters for both models as the forecasted mortality rates are obtained by using all the values of forecasted parameters. To investigate the accuracy of the estimation, the forecasted results will be compared against actual data of mortality rates. The results indicate that both models provide better results for male population. However, for the elderly female population, Heligman-Pollard model seems to underestimate to the mortality rates while Lee-Carter model seems to overestimate to the mortality rates.