Offered By: IBM
Modelling and Basic Actuarial Calculation in Insurance
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.
Continue readingGuided Project
Data Analysis
1.01k+ EnrolledAt 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 that might be used by an actuaries in the insurance industry.
Learning Objectives
- Build the model of an Insurance Company with Risk Process.
- Understand Classical Risk Process
- Understand basic actuarial approximations and their limitationsĀ
- 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
Note: in this project you will build a mathematical Risk Assessment model of an insurance company. This project is not intended to teach you the process of Ratemaking which is fundamental to the role of the actuaries. Ā
Estimated Effort
1 Hour
Level
Beginner
Industries
Insurance
Skills You Will Learn
Data Science, Machine Learning
Language
English
Course Code
GPXX04HEEN