Biography:
Kenneth Q. Zhou is an Associate Professor of Actuarial Science in the Department of Statistics and Actuarial Science at the University of Waterloo. He is a Fellow of the Society of Actuaries (FSA) and an Associate of the Canadian Institute of Actuaries (ACIA). He received his PhD in Actuarial Science from the University of Waterloo in 2019 and worked as an Assistant Professor at Arizona State University from 2019 to 2024. He was a James C. Hickman Scholar of the Society of Actuaries from 2015 to 2019.
Kenneth’s research interests include stochastic mortality modeling, longevity risk management, insurance data analytics, and Bayesian modeling and forecasting. His work focuses on the technical and economic foundations of life insurance practice, with particular emphasis on modeling mortality trends and managing longevity risk. He also develops and applies statistical methods to address data-driven challenges and to identify sources of financial and insurance risks. More recently, his research has examined approaches to mitigating discrimination in actuarial modeling and pricing from a Bayesian perspective.
Kenneth’s research has been published in leading actuarial, statistical, and insurance journals, including Insurance: Mathematics and Economics, North American Actuarial Journal, Journal of Risk and Insurance, and Journal of the Royal Statistical Society. His work is also featured in professional publications such as The Actuary Magazine and the Living to 100 Monograph. He received the 2019 Redington Prize for the best paper in investment from the Society of Actuaries for his work on dynamic longevity hedging. Kenneth is a regular presenter at international conferences and university seminars, where he passionately shares his research findings.
Kenneth is deeply committed to actuarial education, mentorship, and curriculum development. Kenneth teaches both undergraduate and graduate courses in actuarial science and statistics, and supervises students at all levels, including undergraduate research, master's theses, and PhD dissertations. Interested students are warmly encouraged to reach out at kenneth.zhou@uwaterloo.ca.
Publications:
- Chen, Z., Li, H. Mao, Y. & Zhou, K.Q. (2025). Learning from COVID-19: A catastrophe mortality bond solution in the post-pandemic era.Insurance: Mathematics and Economics.
- Zhou, K.Q. & Zhu, X. (2025). A Bayesian generalized additive model approach to forecasting mortality improvement with expert information. Journal of the Royal Statistical Society: Series A (Statistics in Society).
- Zhou, R., Li, J.S.-H., & Zhou, K.Q. (2025). The impact of longevity annuity provision on retirement income planning for Canadians - A modified general endogenous grid method. North American Actuarial Journal.
- Cupido, K., Jevtić, P., Regis L. & Zhou, K.Q. (2024). Spatial natural hedging: A general framework with application to the mortality of U.S. states. Scandinavian Actuarial Journal, 2024(10), 1036-1064.
- Zhou, K.Q., Li, J.S.-H., & Lyu, P. (2024). Bringing parametric mortality indexes to practice: A generalized CBD model with stochastic socioeconomic differentials in mortality improvements. Geneva Papers on Risk and Insurance - Issues and Practice, 49(2), 295–319.
- 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.
- Lyu, P., Li, J.S.-H., & Zhou, K.Q. (2023). Socioeconomic differentials in mortality: Implications on index-based longevity hedges. Scandinavian Actuarial Journal, 2023(4), 359-387.
- 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.
Preprints:
- Zhu, X., Zhou, K.Q., & Wang Z. A new paradigm of mortality modeling via individual vitality dynamics. Available at arXiv.
- Gabric, L.J., Zhou, S., & Zhou, K.Q. A Bayesian approach to discrimination-free insurance pricing. Available at SSRN.
- Gabric, L.J. & Zhou, K.Q. A natural hedging framework for longevity risk with graphical risk assessment. Available at SSRN.