Pennsylvania State University 3 credits RM
This course covers advanced topics of actuarial methods and concepts used to develop loss models for property and casualty insurance and health insurance. The course makes use of real world numerical examples in order to demonstrate how actuaries use historical claims and pricing data, both company specific and industry, to determine rates and increases. Topics covered include: 1) Interpretation and calculations with severity, frequency and aggregate models, 2) Construction and selection of parametric models, 3) Estimation of losses using credibility procedures, and 4) Pricing and reserving for short-term insurance coverages. The course helps to prepare actuarial students for the international Advanced Short-Term Actuarial Mathematics (ASTAM) actuarial exam.
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