Aims and Fit of Module

Students gain a thorough understanding of credibility theories to calculate premiums. Students are also required to understand the application of theories to the data and know the basics of simulation. In order to provide a useful treatment of these topics, it is necessary to stress fundamentals and explore topics at both technical and theoretical levels. 

Learning outcomes

A	analyze limited fluctuations models

B	apply greatest accuracy models to determine  premiums

C	construct  American, Bayesian and exact credibility models

D	Evaluate formulas for Bühlmann and Bühlmann-Straub credibility models.

E	 perform empirical   Bayes  parameter estimation  (need more   exactly) 

F	 apply the knowledge of simulation  in actuarial modeling 

Method of teaching and learning

This module is delivered through formal lectures and tutorial classes