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Mathematics for insurance
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Mathematics for insurance
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Anno accademico 2017/2018
- Tipologia
- D=A scelta dello studente
- Crediti/Valenza
- 6
- SSD dell'attività didattica
- SECS-S/06 - metodi matematici dell'economia e delle scienze att. e finanz.
- Lingua di insegnamento
- Italiano
- Tipologia d'esame
- Scritto ed orale
- Prerequisiti
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- Propedeutico a
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- Mutuato da
- http://www.masters-finins.unito.it/do/corsi.pl/Show?_id=akop;sort=DEFAULT;search=;hits=21
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Sommario insegnamento
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Obiettivi formativi
The main purpose is to introduce Insurance Mathematics, life and non-life, providing a general foundation to the mathematics of the insurance business, in which probability, individuals' and companies' behaviour towards risk play a fundamental role. Financial considerations are also important, as they affect life insurance policy choices.
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Risultati dell'apprendimento attesi
Knowledge and understandingBasic knowledge of mathematical modelling in life and non life insurance, ability to interpret most insurance policies from a mathematical point of view.
Applying knowledge and understandingAbility to convert various policies into formulas, and to assess what is due by the counterparts of an insurance policy. Ability to implement actuarial formulas on a PC.
Making judgementsStudents will be able to discern the different aspects in an insurance policy, whether actuarially founded or not.
Communication skillsStudents will properly use in written expression the symbols of insurance mathematics, and will be able to interpret them (i.e., looking at a formula, be able to recognise the underlying facts).
Learning skillsThe skills acquired will give students the opportunity of improving and deepening their knowledge of the different aspects of the practice of insurance. They will thus move comfortably in any work environment dealing with insurance problem-solving.
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Modalità di insegnamento
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Modalità di verifica dell'apprendimento
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Attività di supporto
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Programma
Different types of risk.
Non-life insurance: policy, premium, claims, claim cost. Fair premium, net premium, premium loading and tariff rates. The total claims cost.
Utility theory framework. The ruin problem.
Life insurance: Lifetime of an individual aged x. Life statistical tables and analytical models. Endowment, pure endowment, insurance in case of death. Life annuities. Commuting formulas. Reserves in prospective and retrospective form. Recursion formulas for reserves. Decomposition of a premium into savings and risk premium. Expected profit according to Homan's formula.Testi consigliati e bibliografia
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Lecture Notes available on KLIPS
Further suggested readings:
Erwin STRAUB, Non-Life Insurance Mathematics, Spinger Verlag 1988
Hans U. GERBER, Life Insurance Mathematics, Spinger Verlag 1990
Ermanno PITACCO, Elementi di Matematica delle Assicurazioni, 2° ediz., LINT Editoriale Associati, Trieste, 2002 (II edizione)- Oggetto:
Note
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