Advanced Short-Term Actuarial Mathematics

Catalog description

This course builds on Math 350 and prepares students for the SOA Advanced STAM exam. We cover advanced severity and aggregate models (including extreme value theory and generalized Pareto), and study the impact of deductibles, limits, coinsurance, and inflation. Students learn both classical and Bayesian parameter estimation, along with credibility theory. The course also focuses on pricing and reserving for short-term insurance using methods such as chain-ladder, Bornhuetter-Ferguson, and Mack’s model, along with tools like trend analysis and loss ratios.