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Curricular information is subject to change
An ability to understand how premium rates, claim rates, reserves, reinsurance arrangements and other parameters in a surplus process contribute to the probability of ruin. To understand how to use practical methods incorporating both sample and collateral information in estimating premium and claim rates. To obtain a basic understanding of how the techniques of generalized linear models may be used in modelling insurance claim rates and amounts. Simulation methods.An understanding of the main concepts underlying the anaylsis of time series models.
Indicative Module Content:Risk and Ruin Theory - Surplus processes and the probability of ruin, Reinsurance and the adjustment coefficient.
• Credibility Theory - Bayes approach to credibility theory, Empirical Bayes credibility theory.
• An Introduction to Generalized Linear Models - Exponential families, Poisson regression, Logistic models, link functions, deviance, residuals and goodness of fit.
• Concepts of Monte Carlo simulation.
• Concepts underlying analysis of time series models – stationary series, autoregressive models, random walks, model selection and diagnostics, forecasts.
Student Effort Type | Hours |
---|---|
Lectures | 32 |
Tutorial | 10 |
Autonomous Student Learning | 78 |
Total | 120 |
Actuarial Statistics I - STAT40020
Description | Timing | Component Scale | % of Final Grade | ||
---|---|---|---|---|---|
Examination: < Description > | 3 hour End of Trimester Exam | No | Other | No | 80 |
Continuous Assessment: < Description > | Throughout the Trimester | n/a | Other | No | 20 |
Resit In | Terminal Exam |
---|---|
Summer | Yes - 3 Hour |
• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
individually graded assignments returned with feedback. Group feedback given in tutorials.
Name | Role |
---|---|
Mr Damian Conway | Lecturer / Co-Lecturer |
Dr Florian Maire | Lecturer / Co-Lecturer |
Ms Jinbo Zhao | Tutor |