INSTITUTE OF APPLIED MATHEMATICS
Last Updated:
28/08/2017 - 21:10

IAM546 - Actuarial Risk Theory

Credit: 3(3-0); ECTS: 8.0
Instructor(s): Consent of IAM
Prerequisites: Consent of Instructor(s)

Course Catalogue Description

Basic concepts of probability in sense of risk theory, Introduction to risk processes (claim number process, claim amount process, total claim number process, total claim amount process, inter-occurrence process), Convolution and mixed type distributions, Risk models ( individual and collective risk models), Numerical methods ( simple methods for discrete distributions, Edgeworth approximation, Esscher approximation, normal power approximation), Premium calculation principles, Credibility Theory, Retentions and reinsurance, Ruin theory, Ordering of risks.

Course Objectives

Establishing knowledge and skills in actuarial risk analysis, developing insurance risk management capacities.

Course Learning Outcomes

Tentative (Weekly) Outline

Basic concepts of probability in sense of risk theory, Introduction to risk processes (claim number process, claim amount process, total claim number process, total claim amount process, inter-occurrence process), Convolution and mixed type distributions, Risk models ( individual and collective risk models), Numerical methods ( simple methods for discrete distributions, Edgeworth approximation, Esscher approximation, normal power approximation), Premium calculation principles, Credibility Theory, Retentions and reinsurance, Ruin theory, Ordering of risks.

More Info on METU Catalogue

Back