Arjen van der Heide
- Arjen van der Heide
- Sociology School of Social and Political Science University of Edinburgh
- Edinburgh UK
- Research Interests
- Social Studies of Finance, Economic Sociology, Insurance markets, Science and technology studies, Financial regulation, Sociology of Quantification, Political Economy, Life Insurance, Sociology of Knowledge
Evaluation Practices In UK Life Insurance, 1971-Present
In 1993, David Wilkie, one of the UK's most prominent actuaries of the past decades, described a widely cited 1952 paper in actuarial science by Frank Redington as being 'rather like the Cutty Sark, one of the last great sailing ships in an age that was already being taken over by steamships.' The paper, Wilkie suggested, was not based on rigorous statistics, but rather continued the venerable tradition of actuarial expertise in which mathematics and statistics only played the role of the supporting actor. In the age of steamships, however, actuarial expertise would be based on a solid mathematical and statistical foundation, not least through the application of such techniques from financial economics to the valuation and risk assessment of insurance firms.
In this project, I examine how the evaluation practices of UK life insurance companies have changed over the course of the past decades by conducting oral-history interviews with those involved. The project seeks to achieve two things. On the one hand, it seeks to explain how and why financial economic techniques were appropriated in actuarial science. To do this, I see the evaluation practices of life insurance companies as 'cultural phenomena' that are shaped by the social, political and economic conditions in which they are deployed. On the other hand, it examines the consequences of this turn in terms of what private life insurance is and does, how it relates to capital markets, and how they feed into more general societal questions, e.g., about 'intergenerational fairness'.
MscRes. Cultures of Arts, Science and Technology, Cum Laude (Maastricht University)
Bsc. Economics and Business, with specialisation in Economics (University of Amsterdam)
Bsc. Political Science, with specialisation in Public Policy and Governance (University of Amsterdam)
van der Heide, Arjen, Alix Rufas, and Alexandra Supper. 2016. "Doctoral Dissertation Defenses: Performing Ambiguity Between Ceremony and Assessment." Science as Culture 25 (4): 473-495.
A History of British Actuarial Thought, by Craig Turnbull, Journal of Cultural Economy, forthcoming.
Wages, Bonuses and Appropriation of Profit in the Financial Industry: The Working Rich, by Olivier Godechot. 2017. Economic Sociology: The Electronic European Newsletter, 18 (3).
Imagined Futures: Fictional Expectations and Capitalist Dynamics, by Jens Beckert. 2017. Acta Sociologica, 60 (2): 191–193.
Conference Papers and Presentations
Regulation as a driver of changing financial market expertise: The case of UK life insurance, Intersections of Finance and Society, November 2-3, 2017, City, University London
Value-at-risk: Infrastructural devices and the obduracy of financial market practice (with Julius Kob), Intersections of Finance and Society, November 2-3, 2017, City, University London
Embracing Financial Economics: Regulation and the Changing Knowledge Infrastructures of UK Life Insurance Markets, Warwick Critical Finance Workshop, September 25, 2017.
Turning Towards the Market, SASE Annual Conference, Lyon, June 29, 2017.
‘Entering the Age of Steamships’: The Spread of Financial Economics in British Actuarial Evaluation Cultures, New Directions, Edinburgh, April 21, 2017.
Reinventing the piano for the 21st century: A case study of the Una Corda piano, Bending Baroque Symposium, Amsterdam, June 5, 2015.
2017 - Honourable Mention, Internet Thesis Prize, for master dissertation: 'Money Matters: Disentangling Materiality in the Social and Political Life of Bitcoin'
2016 - Economic and Social Research Council +3 Studentship
- Graduate School of Social and Political Science Special Award