Fundamentals of Loss Models

Catalog description

This course introduces a variety of frequency, severity, and aggregate models that are useful for actuarial applications. This includes analyzing data from applications, determining a suitable model, providing measures of confidence for decisions based on the model and estimating losses. Also, it introduces the mathematical model and the concept of premium rate development for the Property and Casualty insurance policy. Students with a semester level of Freshman 1, Freshman 2 or Sophomore 1 may not enroll.