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This entry is from Winter semester 2021/22 and might be obsolete. No current equivalent could be found.

Actuary Science: Mathematics of Indemnity Insurance
(dt. Aktuarwissenschaften: Schadenversicherungsmathematik)

Level, degree of commitment Specialization module, compulsory elective module
Forms of teaching and learning,
workload		 Lecture (2 SWS, mit integrierten recitation classen),
90 hours (30 h attendance, 60 h private study)
Credit points,
formal requirements		 3 CP
Course requirement(s): Successful completion of at least 50 percent of the points from the weekly exercises.
Examination type: Written examination
Language,
Grading		 German,
The grading is done with 0 to 15 points according to the examination regulations for the degree program M.Sc. Business Mathematics.
Duration,
frequency		 One semester,
Regularly alternating with other specialization modules in Versicherungsmathematik
Person in charge of the module's outline Dr. Michael Schüte, Prof. Dr. Hajo Holzmann

Contents

Risk models and premium calculation

  • Basic terms individual/collective model
  • Panjer distribution class

Tariffing

  • Data: Risk classes, major loss problems
  • Models and estimation methods
  • Premium differentiation and selection effects

Damage reservation

  • Basic terms and models
  • Procedure for reserving claims

Reinsurance and risk sharing

  • Forms and reasons of risk sharing
  • Impact of risk sharing on key figures

Principles of premium calculation for reinsurance treaties


Qualification Goals

The students shall

  • learn the basic concepts and models of non-life insurance mathematics,
  • be able to assess the appropriateness of the models/methods of non-life insurance mathematics.

Prerequisites

None. The competences taught in the following modules are recommended: either Linear Algebra I and Linear Algebra II or Basic Linear Algebra, either Analysis I and Analysis II or Basic Real Analysis, Elementary Stochastics.


Applicability

Module imported from M.Sc. Business Mathematics.

It can be attended at FB12 in study program(s)

  • B.Sc. Mathematics
  • B.Sc. Business Mathematics
  • M.Sc. Computer Science
  • M.Sc. Mathematics
  • M.Sc. Business Mathematics

When studying M.Sc. Mathematics, this module can be attended in the study area Specialization Modules in Mathematics.

The module is assigned to Business Mathematical Applications within Applied Mathematics. Further information on eligibility can be found in the description of the study area.


Recommended Reading

  • Schmidt, K. D., „Versicherungsmathematik“, 3. Auflage 2009, Springer



Please note:

This page describes a module according to the latest valid module guide in Winter semester 2021/22. Most rules valid for a module are not covered by the examination regulations and can therefore be updated on a semesterly basis. The following versions are available in the online module guide:

The module guide contains all modules, independent of the current event offer. Please compare the current course catalogue in Marvin.

The information in this online module guide was created automatically. Legally binding is only the information in the examination regulations (Prüfungsordnung). If you notice any discrepancies or errors, we would be grateful for any advice.