ACSC 607 - Loss Models
Credits: Three (3)
Introduce coverage modifications (deductibles, limits, and coinsurance), risk measures (Value at Risk and Tail Value at Risk); introduce frequency, severity and aggregate models. Applying those models to coverage modifications and risk measures; learn the construction, parameter estimation, comparison and selection of parametric models (frequency, severity and aggregate models); introduce credibility and estimate failure time and loss distribution using credibility procedures (Bayesian credibility, Bühlmann and Bühlmann-Straub models); introduce Insurance, reinsurance coverages, and pricing and reserving for short-term insurance coverages.
ACSC 607 covers all of the learning objectives contained in Examination STAM (Short-Term Actuarial Mathematics) of the Society of Actuaries.
Note: This course is for graduate students only