- Docente: Luca Vincenzo Ballestra
- Credits: 6
- SSD: SECS-S/06
- Language: Italian
- Teaching Mode: Traditional lectures
- Campus: Rimini
- Corso: First cycle degree programme (L) in Finance, Insurance and Business (cod. 8872)
Learning outcomes
At the end of the course students know the methods to compute premiums (pure and gros) for life insurance policies. Students will also learn how to compute reserves and analyze their dynamics.
Course contents
Life insurance: very brief survey of probability models for life and of financial mathematics; standard contracts: endowment, life insurance, annuity. Commutators. Life insurance on groups (case of two insureds). Fair premium, loadings, gros premium. Reserves (retrospective and prospective). Fouret equation, Kanner equation. Reserving with expenses. Technical basis (first and second order). Profit, Homans' decomposition.
Non life insurance: basic concepts, mean and variance of a portfolios of homogeneous risks, premium calculation.
Readings/Bibliography
Pitacco E.: Matematica e Tecnica Attuariale delle assicurazioni sulla durata di vita, Lint, Trieste, 2000.
Pitacco E., Olivieri A.: La valutazione nelle assicurazioni vita, Egea, Milano, 2005.
Spelta D.: Teoria matematica delle assicurazioni sulla vita, Pitagora, 2001.
Daboni L.: Lezioni di tecnica attuariale delle assicurazioni contro i danni, LINT, Trieste, 1993.
Cerè M., Spelta D.: Esercizi di matematica attuariale, Esculapio, 2017.
Teaching methods
Theoretical explanations will be alternated with practical examples and test-cases. Some problems given in the past exams for becoming Italian actuaries will also be solved.
Assessment methods
The learning outcomes are verified through a written exam, which
takes approximately one hour and a half. Students must demonstrate both theoretical and practical skills. Therefore, the exam consists of both practical problems (two or three) and a free-response questions. The use of books is not permitted. Pocket calculators are allowed.Teaching tools
The lessons will be mainly tought via slide projection (the slides will be made available on the teacher's website, so that students can download them). Students are encouraged to download the slides before going to lesson, such to better follow the teacher's explanation. The core concepts and formulas will also be presented using the blackboard.
Office hours
See the website of Luca Vincenzo Ballestra