Feb 28, 2024  
Undergraduate Calendar 2022-2023 
    
Undergraduate Calendar 2022-2023 [-ARCHIVED CALENDAR-]

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STATS 3ST3 - Actuarial Models in Non-Life Insurance

3 unit(s)

An introduction to short term actuarial models in property and casualty insurance. Topics covered include Theory of Credibility, Pricing and Reserving. Credibility: Limited fluctuation (classical) credibility, Bayesian credibility, Bühlmann and Bühlmann-Straub models. Pricing: Rating factors, exposure, experience rating, calculate premiums using the pure premium and loss ratio methods. Reserving: Techniques for estimating unpaid losses from a run-off triangle (deterministic methods as Chain-Ladder, Bornhuetter-Ferguson) and introduction to stochastic reserving.
Three lectures, one tutorial; one term
Prerequisite(s): STATS 2MB3 or STATS 3A03



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