89901 - Advanced Course in Actuarial Techniques

Learning outcomes

At the end of the course the student acquires an overview of the actuarial tools necessary for the management of the insurance business, both in the non-life and life sectors. In particular, theoretical and applied elements are provided regarding: - Motor TPL pricing; - health insurance; - the Solvency directive; - reinsurance in the life and non-life business; - technical balance sheets in pension and health funds.

Course contents

Life business: the pricing process and profitability tests. Contracts with revaluable performance. Capitalization operations. "Linked" products. Risk contracts. Operations of Branch VI. Pension Funds. The technical reserves in the statutory financial statements, the IAS, Solvency II financial statements and in perspective IFRS17. Reinsurance. The solvency regime.

Non-life business: probability distributions for frequencies and average costs. Pricing process. A priori and posterior customization. The premium in RCA insurance - the tariff requirement. Technical reserves in the statutory financial statements, IAS financial statements, Solvency II and IFRS17 in perspective. Reinsurance. The solvency regime.

Duration: 30 hours

Reception: immediately after the lesson

Readings/Bibliography

The slides provided by the teacher, available in the repository of the teaching course, cover all the topics of the program.

Practical applications, available in the teaching course repository, which cover the main aspects of the course.

In addition, the following textbooks are recommended for further study:

• Pitacco E.: Matematica e Tecnica Attuariale delle assicurazioni sulla durata di vita, Lint, Trieste, 2008
• Pitacco E.: Modelli attuariali per le assicurazioni sulla salute, EGEA, 1995
• Daboni L.: Lezioni di tecnica attuariale delle assicurazioni contro i danni, LINT, Trieste, 1993

Teaching methods

The course is structured in classroom and / or remote lessons, with the aid of e-learning platforms, in which the basic operational and application elements of the actuarial technique with reference to life and non-life insurance are presented.

Theoretical lessons alternate with practical exercises performed through the use of IT tools.

Assessment methods

The verification of the acquired knowledge takes place through a single oral test, in which the student must answer various questions (minimum 3) on the topics addressed during the course.

At the end of the test, an outcome expressed in vote is provided.

The purpose of the oral exam is to verify the student's ability to apply his or her knowledge and to perform the necessary ones
logical-deductive links. Final result:

• Preparation on a very limited number of topics covered in the course, analytical skills that emerge only with the help of the teacher, expression in overall correct language, only basic concepts → grade 18-19;
• Preparation on a limited number of topics covered in the course, ability to autonomous analysis only on purely executive matters, expression in correct language, basic concepts → grade 20-24;
• Preparation on a large number of topics covered in the course, ability to make independent choices of critical analysis, mastery of specific terminology, basic concepts → grade 25-29;
• Substantially exhaustive preparation on the topics covered in the course, ability to make independent choices of critical analysis and connection, full mastery of specific terminology and ability to argue and self-reflection, basic concepts → grade 30-30L.

Attendance at lessons does not discriminate against verification but favors a better learning of theoretical notions.

During the test no aids of any kind are allowed, except for white paper and pen.

Teaching tools

In class, slides will be projected, which can be alternated with explanations on the blackboard. The slides will be made available to students by uploading them to the Virtuale site (accessible via credentials). Students are advised to bring the slides to class (having therefore downloaded them previously) to better follow the lessons themselves. This material is in fact fundamental, many topics are current and also prospective and have not yet found space in reference texts, so it is also important to follow the lessons as much as possible. It is also important to follow all the practical applications / exercises carried out during the course, the actuarial profession in fact thrives on mathematics that is so complex but also absolutely applied.

Office hours

See the website of Giampaolo Crenca