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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GPXX04HEEN

Data Analysis

837 Enrolled
(68)

At a Glance

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

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