Are you keen to develop in-depth knowledge of life insurance business that you will need to work as a qualified actuary or other senior roles in this vibrant area of insurance? With a comprehensive introduction to the specialist area of life insurance this module is an excellent stepping stone to qualifying as a life actuary.
You will learn about a wide range of life insurance products, practical considerations when designing these products, robust risk management techniques and the use of advanced modelling techniques for pricing and valuation of life insurance products.
You also have the opportunity to gain valuable exemptions from the SP2 (Life Insurance) subject of the Institute and Faculty of Actuaries (IFoA, UK).
You will learn from subject specialists about key issues relating to the life insurance industry, giving you a competitive edge in your career, while connecting your learning with real-world industry problems.
Lecture 48
Take-home test worth 30%.
3 hours worth 70%.
Reassessment Method: Like-for-like
Composite form of reassessment for failed components – examination
On successfully completing the module, students will be able to:
1) Systematically apply the key principles relevant to the provision of life insurance, and the main methods of actuarial management that are relevant to life insurance business
2) Demonstrate a comprehensive awareness of the different types of life insurance products, the environment in which they are sold and critically analyse complex considerations when designing life insurance products
3) Demonstrate critical awareness of the potential risks faced by a life insurance company and how these risks can be managed
4) Demonstrate systematic understanding of how life insurance companies use complex models within their business
5) Propose original solutions and actions based on their interpretation of complex problems in life insurance and clearly communicate these solutions to their audience.
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