Life Insurance Mathematics

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Tijdsduur

Life Insurance Mathematics

Amsterdam Business School - Amsterdam Executive Programme Actuarial Science (AEMAS)
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Opleiderscore: starstarstarstarstar_border 8 Amsterdam Business School - Amsterdam Executive Programme Actuarial Science (AEMAS) heeft een gemiddelde beoordeling van 8 (uit 1 ervaring)

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Beschrijving

Leerdoelen

After following this course the student:

  • has insights in human mortality models and human mortality data;
  • has knowledge of a general framework for the valuation of life contingent liabilities where cash flows depend on the future lifetime of one insured or multiple insureds;
  • is able to calculate actuarial present values, premium structures and policy values for different types of life annuity and life insurance products;
  • is able to do this type of calculations in both discrete and continuous time for one and multiple insureds;
  • is able to understand and to use the relevant international actuarial notation for life contingent risks.

Inhoud

The course covers the following…

Lees de volledige beschrijving

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Leerdoelen

After following this course the student:

  • has insights in human mortality models and human mortality data;
  • has knowledge of a general framework for the valuation of life contingent liabilities where cash flows depend on the future lifetime of one insured or multiple insureds;
  • is able to calculate actuarial present values, premium structures and policy values for different types of life annuity and life insurance products;
  • is able to do this type of calculations in both discrete and continuous time for one and multiple insureds;
  • is able to understand and to use the relevant international actuarial notation for life contingent risks.

Inhoud

The course covers the following topics:

  • a general introduction to life contingent risks and related financial products
  • a discrete time framework to value cash flows over time with a discussion of: discount functions, interest and discount rates, actuarial equivalence of cash flow vectors, balances and reserves for a given cash flow vector and prospective and retrospective views
  • the life table, human mortality data and their characteristics, demographic markers, calculating probabilities using the data published in a life table and choice of life tables
  • life annuity products, calculating actuarial present values and premiums
  • life insurance products, calculating actuarial present values and premiums
  • policy values for annuity and life insurance products, a general framework, recursions, and detailed insights
  • working with fractional durations
  • working in continuous time and extending all topics studied before from discrete to continuous setting
  • select mortality
  • multiple-life contracts, the joint life status, the last survivor status, annuities and insurances on multiple lives
  • multiple decrement theory
  • expenses and profits.

Aanbevolen voorkennis

The course recommends a basic understanding (at the level of the first year of a BSc in a quantitative study program) of algebra, analysis and probability theory.

Werkvorm

The course is organized as follows: every week

  • two lectures of two hours;
  • a tutorial session of two hours covering exercises;
  • a computer session of two hours with assignments that have to be solved with R.

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Deel je ervaring

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Er zijn nog geen veelgestelde vragen over dit product. Als je een vraag hebt, neem dan contact op met onze klantenservice.

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