Aims and Fit of Module

This module provides solid probabilistic and statistical tools to estimate parameters for a variety of actuarial models. Students are also required to understand the model selection. Students gain the ability to design models according to different type of data and a thorough understanding of credibility theories to calculate premiums.

Learning outcomes

A Apply mathematical, statistical and probabilistic skills to solve actuarial models. B Understand, construct and estimate parameters for parametric models C Perform the estimation for complete and modified data D Select models based on hypothesis tests E Understand and estimate losses using credibility procedures F Evaluate formulas for Bühlmann and Bühlmann-Straub credibility models G Perform empirical Bayes parameter estimation

Method of teaching and learning

This module will be delivered by a combination of formal lectures and tutorial sessions.