151-0520/01 – Insurance Mathematics (InsMt)
Gurantor department | Department of Mathematical Methods in Economics | Credits | 5 |
Subject guarantor | RNDr. Jan Hrubeš | Subject version guarantor | RNDr. Jan Hrubeš |
Study level | undergraduate or graduate | Requirement | Choice-compulsory |
Year | 3 | Semester | winter |
| | Study language | English |
Year of introduction | 2004/2005 | Year of cancellation | 2010/2011 |
Intended for the faculties | EKF | Intended for study types | Bachelor, Follow-up Master |
Subject aims expressed by acquired skills and competences
The objectives of the lessons are to analyse the methods of the actuarial calculations in the context of their ancient development, to identify their conveniences and disadvantages, and to formulate the universal principals on which they are based. The students should understand them insomuch that they will be able to design new modifications of known calculations and to gauge their applicability in the practice.
Teaching methods
Lectures
Tutorials
Project work
Summary
The main goal of this subject is to acquaint the students with the most
fundamental results of the present actuarial mathematics at the appropriate
level - so that they will be able to work further on these topics creatively
on their own. The students will be familiarized with the insurance risk
models, the main demographic characteristics used in the life insurance, the
models of the net premium and the gross premium calculation as well
in the life- as in non-life insurance, the general principles of the premium
reserves calculation and the reinsurance. The actual points related to the
pension systems and the insurer?s solvency will be also discussed. The matter
of the subject can be studied using the knowledge of the financial
mathematics, the statistics, the spreadsheets (esp. MS Excel) and the very
elementary knowledge of the algorithm development and the programming.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
Project No 1 - Pure Endowment and Annuity Assurance with Simple Premium
Project No 2 - Life Insurance with Simple Premium
Project No 3 - Life Assurance with Current Premium
E-learning
http://moodle.vsb.cz/vyuka/
kurs 151-320 Pojistná matematika
Other requirements
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
Risk Models in Assurance
Methods of Assurance Risk Evaluation
Probability Distribution of Assurance Claims
Principles of Insurance Premium Calculation
Equivalence Principle
Life Assurance - Mortality Modeling
Decrementing Population
Experience Tables
Experience Tables Smoothing
Time Shifting, Selection and Antiselection Risk
Collective Risk
Commutation Functions
Basic Kinds of Life Assurance and their Evaluation
General Rules of Life Assurance
Life Assurance Premium Calculation
Capital Assurance
Annuity Assurance
Gross Premium
Health Aspects of Life Assurance
Medical Underwriting
Accident and Disability Insurance
Private Health Insurance
Multiple-Lives and Collective Assurance
Life Insurance Reserves
Net Reserve, Gross Reserve
Saving and Risk Parts of the Insurance Premium
Calculations based upon te Life Assurance Reserve
Smart-Money
Reduction in the Case of Default on Premium Payment
Share in Profit
Modern Life Assurance Approach and Products
Profit Testing, Implicite Value of Life Insurance Company
Investment Life Assurance
Superannuation Scheme
Contributory and Benefit Pension Schemes
Superannuation Scheme Financing
Tariff Groups and Basic Indicators in Non-Life Insurance
Statistical Background and Indicators
Non-Life Insurance Premium Calculations
Non-Life Insurance Reserves
Triangular schemes, Chain-Ladder Method
Extraordinary Risk Composition Reserve
Non-Life Insurance Mathematical Models
Models of Insurance Claims, Insurance Loss, Compound Insurance Models
Time Aspects of Insurance Models
Bankrupcy Probability
Bonus-Malus Systems
Reinsurance
Proportional Reinsurance
Non-Proportional Reinsurance
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction
Předmět neobsahuje žádné hodnocení.