Reserving and capital modelling actuaries are the backbone of financial security in the general insurance industry.
This module introduces you to the main principles and techniques of reserving and capital modelling in general insurance. You will learn from subject specialists about how to apply these principles and techniques to solve real-world industry problems. You will develop in-depth knowledge of how reserving and capital modelling link to wider business processes such as business planning and pricing. You will also develop and apply judgement to assess the implications of possible actions and to develop effective recommendations relating to reserving and capital modelling in general insurance.
This module will equip you with the competitive advantage that you will need to work as a qualified actuary or other senior roles in general insurance and related fields.
This module provides you the opportunity to gain exemptions from subject SP7 of the Institute and Faculty of Actuaries (IFoA, UK).
Lecture 48
Take-home test worth 30%.
Examination (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) Demonstrate an in-depth and critical awareness of the main principles and techniques of reserving and capital modelling that are relevant to general insurance
2) Systematically apply these principles in practice within the context of general insurance
3) Demonstrate a comprehensive and systematic understanding of the techniques involved in estimating best estimate reserves and setting capital requirements within the general insurance context and recognise how reserving and capital modelling link to wider business processes including business planning and pricing
4) Critically analyse hypothetical scenarios, using sound judgement to assess the implications of possible actions
5) Develop appropriate proposals or recommendations relating to reserving and capital modelling in general insurance business.
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