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A laboratory for financial economics, Alef produces solutions to the financial problems of public and private firms, banks and insurance companies.
Advanced Laboratory Economics and Finance
About us
Experiences
Publications
Innovation
As a laboratory for financial economics, Alef produces solutions to the financial problems of public and private firms, banks and insurance companies.
The origins
Alef was started in 1992, with a course given in Pisa, at the Scuola Normale Superiore, in the framework of a high level educational project. It was founded by Gilberto Castellani, Massimo De Felice, Franco Moriconi, Carlo Mottura. The first president was Carlo Santacroce.
The project
Alef’s project is based on research experience, algorithm production (in software form), university courses teaching and consultancy activities of its members, at national and international level; it responds to the indication of control and supervision Authority over the companies (financial, banks and insurance companies) and on the financial markets, which advocate the establishment of a mathematical and probabilistic culture in the areas of traditionally considered to be part of the legal, institutional, accounting and management culture.
The working style
The working style integrates theory, search for solutions and construction of solving technologies (routines, computations systems); The implementation methods aim at rooting solutions and technologies in the culture and operational practice of companies: Therefore, the solutions are accompanied by training itineraries for the managers of the solution technology and for the users of the results.
The working framework
Alef provides consultancy and produces dedicated solutions for
- valuation of financial products
- valuation of insurance contracts
- management of investment portfolios
- control of market risks, technical-actuarial risks, credit risks
- control of industrial (design)risks
- financial design and management of pension funds
- analysis of capital markets
- valuation of debt and investment plans
- asset-liability management of banks and insurance companies
- assessment and monitoring of the solvency of life and non-life insurance companies.
Alef certifies
- the calculation systems, to be used for the management and control in accordance with “Solvency II”
- methods and techniques for the financial valuation of characteristic values of insurance companies (financial and technical reserves, “Solvency Capital Requirement”, embedded value, predictable return, index-linked policy values)
- methods and techniques for financial valuation
- the value of structured financial contracts
- characteristic values of insurance companies (embedded value, risk financial and technical capital, expected return, values of policies index-linked).
Work organization
Alef works with a group of 65 professionals; it works by organizing groups of specialists.
Coordinators
Giuseppe Casarano
Responsible for the IT and technology sector
Gilberto Castellani
Full professor at the “Sapienza” University of Rome, teaches Mathematical models for financial markets and risk theory
Massimo De Felice
Actuary, full professor at the “Sapienza” University of Rome, teaches Financial Mathematics and Evaluation and Control of Insurance Companies
Franco Moriconi
Full professor at the University of Perugia, teaches mathematical models for financial markets
Carlo Mottura
Auditor, full professor at the University of Roma Tre, and teaches Financial Mathematics
Claudio Pacati
Full professor at the University of Siena, teaches Financial Mathematics
Experiences
In 30 years of history, Alef worked with and for many public and private firms, banks and insurance companies.
Read about our carried out and in progress activities.
Publications
Some of Alefโs technical solutions and activities are attested in the literature. We proudly keep a complete record of all the published works.
Latest publication
An Expectation-Maximization Algorithm for Including Oncological COVID-19 Deaths in Survival Analysis Journal Article
In: Current Oncology, vol. 30, no. 2, pp. 2105โ2126, 2023, ISSN: 1718-7729.
Innovation
Alef collaborates in forward-looking projects with open-source code. Visit our public repositories.