ETC5342 · Applied insurance methods

Overview

To provide a further grounding in the mathematics and statistics of short term insurance risk.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. calculate probabilities and moments of loss distributions both with and without limits and risk-sharing arrangements
2. construct risk models involving frequency and severity distributions and calculate the moment generating function and the moments for the risk models both with and without simple reinsurance arrangements
3. explain the concept of ruin for a risk model
4. describe the fundamental concepts of risk rating and apply them to simple experience rating systems
5. describe and apply techniques for analysing a delay (or run-of) triangle and projecting the ultimate position
6. critically analyse the application of principles underlying econometric analysis.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.