This module is designed to introduce practical problems involved in daily actuarial work in an insurance company. The module will first introduce the nuts and bolts of actuaries and what actuaries do, and will then illustrate in detail with various case studies how actuaries in different areas work, including general insurance, life insurance, annuity, retirement benefit, group insurance and health insurance.
A. Explain Actuarial science and the Actuarial profession. B. Employ actuarial practice in life insurance and annuity. C. Classify and design the basic ratemaking in general insurance. D. Evaluate each retirement benefit design and describe the funding method. E. Implement various pricing and reserving methodologies for group insurance. F. Compare and contrast differences and similarities between group and health insurances.
This module is delivered through formal lectures and tutorials.