Offered By: IBM
Insurance Business Modelling and Basic Actuarial Calculations
In this guided project you will learn how to build a mathematical model of an insurance company using Risk Process and to do risk and revenue assessment.
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Data Analysis
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In this guided project you will learn how to build a mathematical model of an insurance company using Risk Process and to do risk and revenue assessment.
In this guided project you will learn how to build a mathematical model of an insurance company using Risk Process and to do risk and revenue assessment
Learning Objectives
After completing this guided project you will be able to:
- Build the model of an Insurance Company with Risk Process.
- Understand Classical Risk Process
- Understand basic actuarial approximations and their limitations
- Use Actuarial approximations for Risk Assessment of the Classical Risk Process
- Calculate the Ruin Probability of the Classical Risk Process using Monte Carlo method and compare it to theoretical results
Estimated Effort
1 hour
Level
Beginner
Skills You Will Learn
Data Science
Language
English