ETM2110 · Risk and survival modelling

Overview

In this unit, you will be introduced to a comprehensive exploration of the mathematics and statistics underpinning both short-term and long-term insurance risk. Building upon the foundational knowledge acquired in the Calculus I, Probability and statistics I and Probability and statistics II units, you will be exposed to the intricacies of risk and survival modelling, and a solid grounding in the mathematical and statistical principles essential for understanding the complexities of insurance risk, both in the short term and over extended periods. This unit acts as a bridge between foundational statistical methodologies and their practical application in the dynamic landscape of insurance. Upon unit completion, you will have acquired the skills necessary to assess, analyse, and manage various forms of risk within the context of actuarial analytics which will prepare you for the challenges of actuarial analytics and provide sufficient expertise for use in various later units and the actuarial professional examinations.

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. apply fundamental principles and concepts of statistical distributions for risk modelling
2. apply fundamental principles and concepts of statistical distributions for survival analysis
3. integrate software tools and technology for risk modeling and survival 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.