"Insurance Risk Assessment and Management with Advanced Applications" is a practical book. This book is purposed for Risk Management professionals, managers, risk managers, risk analysts, academics, and degree students teaching/studying Management, Risk Management, Risk & Decision Analysis, and Operations Research. The book chapters are Insurance Claims Models, Insurance Claims Pay-out, Insurance Claims Stress, Insurance Claims Through Time, Insurance Claims with Reinsurance Option, Insurance Claims with RiskCompound Cell Referencing, Insurance Contingent Contract Valuation, and Insurance Stress Analysis. The author's distinguished book "Six Sigma Improvements for Basel III and Solvency II in Financial Risk Management" including the Six Sigma DMAIC methods for Risk Management has been recognised and ranked with 3.93 stars in the "100 Best Financial Risk Management Books of All Time" by the BookAuthority (Ref. https: //bookauthority.org/author/Vojo-Bubevski). Bernstein stated, "The risk will always be there, so we must explore many interesting tools that can help us to control risks we cannot avoid taking" (Bernstein & Damodaran 1998). The author's presented book is one such tool.