Non-life insurance mathematics

Course objectives

Learning goals. The main learning goal for students is the knowledge of principles, methods and techniques of non life insurance. Students must be able to apply the main actuarial models and to interpret the results of their use on real data. Knowledge and understanding. Students acquire knowledge and understanding of the most important problems of actuarial science for non life insurance (premium principles, technical proisions, ecc.) and of the main methods for solving these problems. Applying knowledge and understanding. After the attendance of this course, students will be able to formalize real problems and to apply appropriate actuarial models. They will also be able to apply actuarial models to real data and to interpret them. Making judgements. Students improve judgements skills by applying actuarial models to a wide range of non life insurance products. Their skills will be improved by using and comparing different methods to the same problems and by applying these methods to real data. Communication skills Students will acquire the scientific language of actuarial science for non life insurance, that will be used in written test. Communication skills will be enhanced also by group work. Learning skills. Students who pass the final exam will have acquired the methods and knowledge necessary to operate as non life actuaries, with a special regard for non life technical provition. These skills will allow them access to the State Examination to the Actuarial Profession.

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FABIO BAIONE Lecturers' profile

Program - Frequency - Exams

Prerequisites
The course contents require you the knowledge of fundamentals on probability calculus (e.g. random variables, probability distributions, moments) and non-life insurance actuarial mathematics as well as basic knowledge of risk theory.. Some of the notions acquired by taking the exams of the Probability and Actuarial Mathematics courses and, more generally, Statistics. are considered preparatory
Books
• Lecture notes by the teacher. • Werner G., Modlin C., (2016); BASIC RATEMAKING Fifth Edition, Casualty Actuarial Society https://www.casact.org/library/studynotes/Werner_Modlin_Ratemaking.pdf
Teaching mode
The course includes lectures (except for health emergencies) on the theoretical and applicative aspects of the subject. The latter carried out with the use of specialized software (Excel, R).
Frequency
Class attendance is not mandatory but is strongly recommended.
Exam mode
An oral test on the theoretical topics covered in the program is required.
Bibliography
• Anderson & Al. (2007); A Practitioners Guide to Generalized Linear Models, https://www.aktuarai.lt/wp-content/uploads/2018/06/Anderson_et_al_Edition_3.pdf • ANIA, “L’Assicurazione Italiana 2019-2020”, https://www.ania.it/documents/35135/126701/LAssicurazione-Italiana-2019-2020.pdf/6e29e2fd-cf94-9692-7d77-d48767332a22?t=1596196785589 • Daboni L., (1993); Lezioni di tecnica attuariale delle assicurazioni contro i danni, Lint Editoriale, Trieste. • Kaas, R., Goovaerts, M., Dhaene, J., Denuit, M. (2008); Modern Actuarial Risk Theory Using R Springer-Verlag Berlin Heidelberg, Berlino. • Sandström A., (2010); Handbook of Solvency for Actuaries and Risk Managers: Theory and Practice, Chapman and Hall/CRC
Lesson mode
The course includes lectures (except for health emergencies) on the theoretical and applicative aspects of the subject. The latter carried out with the use of specialized software (Excel, R).
  • Lesson code1023580
  • Academic year2024/2025
  • CourseActuarial and Financial Sciences
  • CurriculumScienze attuariali
  • Year2nd year
  • Semester1st semester
  • SSDSECS-S/06
  • CFU9
  • Subject areaMatematica per le scienze attuariali e finanziarie