MATHEMATICS FOR INSURANCE

Course objectives

1.Knowledge and understanding. After successfully passing the exam, the student will have acquired an adequate sense of prediction, getting used to applying the rigor and the systematicity of the quantitative approach, namely the calculation of probabilities, to the assessment of the various risks related to problems under conditions of uncertainty of the insurance world. 2.Ability to apply knowledge and understanding. After having successfully passed the exam, the student will be able to appreciate the meaning and the differences of the different insurance contracts stipulated to cover life, death, damages and the most proper aspects of social insurance, having acquired a good preparation on the fundamental structures of the actuarial calculation. 3.The development of critical skills and judgment can be encouraged by the presentation of teaching material in a simple and flat language that does not renounce to correctness and mathematical rigor, allowing all students to intervene in the classroom expressing their ideas and their own doubts. 4.The ability to communicate what has been learned must be developed by focusing on the operational properties of the various insurance packages and on the examples of mathematical tools presented, making it possible for the student to become familiar with the more formal aspect of mathematics and thus acquire the ability to communicate. 5.The ability to continue independently in the study of the issues addressed must be encouraged by paying particular attention to the motivation of the mathematical contents presented, and thus encouraging the student to develop an analytical mentality to describe, schematize and quantitatively interpret all aspects of insurance reality.

Channel 1
MARIA RITA SCARPITTI Lecturers' profile

Program - Frequency - Exams

Course program
Syllabus INSURANCE MATHEMATICS Professor Maria Rita Scarpitti • Actuarial mathematics • Insurance contract • Free or mandatory insurance • The first, second and third pillars • The various aspects of the insurance contract • Certain and aleatory financial transactions • The insurance premium • Insurance as a fair game • The probability of gambler's ruin • The random variables • The life of a random person • The basic biometric functions • Law of survival • The probability of survival and the probability of death • The survival and mortality tables • The fundamental equation to determine the probability of death • The basic life insurance • Discount and capitalization actuarial factor • Life annuity • Insurance in case of death • Mixed insurance • The technical basis of the first order • The mathematical perspective • The mathematical retrospective • Life insurance classification • Risk classes: personalization of the award • First absolute risk and first relative risk • Differences between insurances in case of life and insurance against damages • Basic technical risk • The index of the accident record • The index of repeatability • The average degree of damage • The construction of insurance fares/prices
Prerequisites
The teaching of Mathematics for Insurance has as a prerequisites formalized the teaching of Mathematics Basic Course and the teaching of Financial Mathematics
Books
Text adopted: E. Pitacco: The elements of insurance mathematics, Ed. LINT , 2012 .
Teaching mode
Lectures with the aid of the LIM. The contents of mathematics for insurance are explained through verbal explanations but also through numerical and graphic applications and with examples of life insurance and non-life insurance packages.
Frequency
Attendance to lessons takes place in presence Attendance at teaching lessons is recommended in order to facilitate personal study and for the student to remain in dialogue with the teacher
Exam mode
The oral exam consists of an interview aimed at evaluating the knowledge and mastery of the probabilistic method and the ability of the latter to be applied to the concrete concepts of the insurance world; the oral interview also requires the ability to illustrate the dynamics of the various life insurance and non-life insurance packages in their qualitative and quantitative aspects.
Bibliography
Reference bibliography : Stefan Waner, Steven R. Costenoble, Quantitative tools for business management, Maggioli Publisher, 2018
Lesson mode
Lectures with the aid of the LIM. The contents of mathematics for insurance are explained through verbal explanations but also through numerical and graphic applications and with examples of life insurance and non-life insurance packages.
  • Lesson code1018211
  • Academic year2025/2026
  • CourseBusiness sciences
  • CurriculumAmministrazione delle aziende
  • Year3rd year
  • Semester1st semester
  • SSDSECS-S/06
  • CFU6