What it is about
You will learn fundamental models and methods of actuarial risk analysis. The focus is on Poisson and compound-Poisson processes, collective claims model, Renewal theory, and Ruin theory for light and heavy claim distributions; in the end you will be able to apply these concepts and make basic statements about ruin probabilities.
What you will be able to do
- Understand basic concepts and methods of actuarial risk theory
- Apply Poisson and compound-Poisson processes
- Master Renewal theory
- Apply Ruin Theory for light and heavy claim distributions
- Use relevant tools such as generating functions and moment generating functions
What the module consists of
- VorlesungPresentation of content, demonstrative examples and discussions
- Übung/Practice sessionsDeepening through exercises and solutions
- R-Programmierungpractical implementation and analysis with R
Teaching method
- VorlesungIntroduction to theories and methods, motivation for independent engagement
- ÜbungsgruppeConsolidation of the material through problems and self-check
- R-Programmierungpractical analysis and implementation of the models