DescriptionIn the half-module Actuarial Mathematics II, basic theory of life-insurance was introduced. This leaves non-life insurance as a natural area to further explore the mathematical theory on which insurance is based, and therefore as an attractive area for study in this project.The topic area of non-life insurance is very large, ranging from quite obvious topics such as car and home insurance to reinsurance, which is a way to manage risks used by insurance companies. The choice of specific topic for your project can be discussed with me, if you have a particular area of interest it is likely that a suitable related project topic can be found.
PrerequisitesActuarial Mathematics II is required. For some topics it will further be required to have completed Probability II or Statistical Concepts II, and also there are possible topics for which it may be required to take some specific 3rd year modules in parallel (e.g. Decision Theory III, Operations Research III, Stochastic Processes III or Statistical Methods III).ReferencesThe book `Non-life Insurance Mathematics' by Thomas Mikosch is excellent, it presents detailed mathematical theory, mostly focussing on stochastic processes. The book `Modern Actuarial Theory and Practice' by Philip Booth et al provides excellent insight into the real-world use of insurance and the corresponding theory, without going into mathematical details. Of course, you can also find a wealth of information about this topic area on the internet, where it is also called `General Insurance' (e.g. Wikipedia). It may be useful to have a chat with me about possibilities and good resources for specific topics.Please feel free to contact me! |
email: Frank Coolen