Actuarial mathematics of non-life insurance
Program Overview
University of Novi Sad
Faculty of Technical Sciences
The Faculty of Technical Sciences is a higher education institution located in Novi Sad, Serbia. It offers a wide range of academic programs in various fields of technical sciences.
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Study Programs
The Faculty of Technical Sciences offers various study programs, including:
- Master's academic studies in Mathematics in Engineering (II year, Summer semester)
- Other study programs in different fields of technical sciences
Course: Actuarial Mathematics of Non-Life Insurance
Basic Information
- Category: Professional-Applied
- Narrow Scientific Field: Financial and Actuarial Mathematics, Theoretical and Applied Mathematics
- ECTS: 5
Course Objectives
The objective of this course is for students to master the necessary theoretical and applied knowledge required for understanding the principles of actuarial mathematics, particularly in non-life insurance and capital modeling, as well as mathematical and economic techniques of actuarial planning and control necessary for the financially justified operation of insurance companies.
Course Outcomes
Upon completing this course, students will be able to understand the main principles and techniques of rating and reserving, especially in non-life insurance. They will be able to apply appropriate methods in different situations and contexts of insurance, as well as analyze hypothetical scenarios and make appropriate proposals or recommendations related to rates and capital modeling.
Course Content
The course covers mathematical-statistical bases of non-life insurance, theory of failure, generalized linear models, theory of credibility, practical examples of determining premiums, damage size, and compensation for various types of insurance, technical reserves and calculations, theory of insolvency of insurance companies, self-maintenance, and methods of its determination, determination of maximum possible damage, methods of determining reserves for damages, gross premium, and applications.
Teaching Methods
The course includes lectures, consultations, and a practical part where students work on obligatory tasks in computer laboratories, using actuarial tools. Students can also work on non-obligatory tasks to earn additional points. A part of the material is presented orally and submitted in written form as a seminar paper. A part of the material that forms a logical whole can be taken in the form of partial exams, which are a component of the final exam.
Literature
- Rober Brown, Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance, ACTEX Publications, 2007
- Straub E., Non-Life Insurance Mathematics, Springer-Verlag, 1988
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Assessment
The final grade is based on:
- Presence at lectures (5 points)
- Seminar paper (0 points)
- Homework (0 points)
- Written part of the exam (40 points)
- Oral part of the exam (15 points)
- Subject (project) task (40 points)
Teachers
- Prof. Dr. Nenad Filipovi (not mentioned in the provided text, but prof. dr Neb Ral is mentioned as the teacher)
- Assistant Andrija Blesi, Assistant
- Assistant Andrija Blesi, Assistant