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Oct 30, 2024
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MACT 407/4331 - Insurance Loss Models I (3cr.)
Prerequisites
Description
Risk Theory: Loss/claim severity models, creating a new model by transformation inflation, insurance coverage modifications, policy limit, loss elimination ratio, deductibles, inflation, coinsurance, loss/claim frequency models, Poisson, geometric, negative binomial, (a,b,0) and (a,b,1) classes, aggregate loss models, compound distribution, recursive formula, impact of individual claim modifications.
Credibility Theory: mixture models and Bayesian estimation, discrete and continuous mixtures, prior distribution, marginal distribution, posterior distribution, predictive distribution, Bayesian premium, Buhlmann model, credibility premium, credibility factor.
When Offered
Offered once a year.
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