Are you interested in gaining valuable, practical experience in working with one of the industry’s leading actuarial modeling software PROPHET? Would you like to understand how insurance and financial services companies use PROPHET to meet reporting responsibilities, improve risk management and develop profitable products?
By enabling you to develop a strong foundation in using various distinctive features of PROPHET, this module will help you solve a wide range of complex, real-world actuarial problems and is a good way to connect theoretical concepts with hands-on learning.
Learning PROPHET gives you a competitive advantage in your career and equips you with a modeling skill set that is an invaluable asset in today’s job market.
PC lab workshops and lectures 32
Solving a set of actuarial problems using PROPHET, in person (approximately 1 hour). worth 50%.
Solving a set of actuarial problems using PROPHET, in person (approximately 1 hour). worth 50%.
Reassessment Method: Like-for-like
Composite form of reassessment for failed components – practical competency.
On successfully completing the module, students will be able to:
1) Systematically apply the key functionalities within PROPHET to critically analyse the liability cashflows for a range of insurance products
2) Demonstrate a comprehensive awareness of the complex analytical techniques of profit-testing on a range of insurance products using PROPHET
3) Demonstrate critical awareness and nuanced understanding of how insurance companies can utilise various features of PROPHET to solve complex problems arising in their business
4) Critically evaluate the results of various PROPHET cashflow projections including making reasonableness checks
5) Formulate suitable changes to improve the model where appropriate.
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