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Main
UQU Programs
Actuarial Science and Financial Mathematics

Credibility Theory and Loss Distributions

MTHF4806
3 hours English

Credibility Theory and Loss Distributions

Credibility Theory and Loss Distributions
RMI3804 Risk Theory
3 hours One requisite
1 Introduction: Modeling, Random variables, Key Functions, and Four Models and Basic Distributional Quantities. Characteristics of Actuarial Models, Creating New Distributions, Selected Distributions, and Their Relationships and The Linear Exponential Family. Frequency and Severity with Coverage Modifications. Aggregate Loss Models
2 Mathematical Statistics: Moments, and Percentile Estimation, Maximum Likelihood Estimation (MLE) and Bayesian Estimation. Construction of Empirical Models and Model Selection
3 Limited Fluctuation Credibility Theory, Full Credibility and Partial Credibility
4 Greatest Accuracy Credibility: Conditional Distributions and Expectation, The Bayesian Methodology, The Credibility Premium, The Bühlmann Model, The Bühlmann-Straub Model and Exact Credibility
5 General Applications in Credibility Theory and Loss Distributions
1.1 Mapped to: K1

Explain fundamental concepts of credibility theory and Construct collective and individual risk models that are related to insurance businesses.

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
1.2 Mapped to: K1

Describe different collective and individual models in insurance, competing risks, liability and survival analysis.

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
1.3 Mapped to: K2

Demonstrate the use of IT packages (Matlab) in actuarial models.

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
2.1 Mapped to: S1

Construct statistical loss models that are the best fit to data and also, estimate the greatest accuracy credibility.

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
2.2 Mapped to: S2

Evaluate and solve complex problems in loss models and credibility theory.

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
3.1 Mapped to: V2

Demonstrate commitment to academic values and exhibit ethical behavior and respect different points of view.

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
3.2 Mapped to: V1

Qualify students to pass in the STAM exam of SOA

Teaching Strategy Lecture
Assessment Methods Exam-Quiz
Assessment
Weight
Homework’s, Quizzes, Mini projects
20%
Midterm
30%
Final Exam
50%
Total
100%