Topics in Actuarial Statistics

The course will contain a sample of the uses of probability and statistics in the areas of life and casualty insurance. Some examples from old actuarial exams will be used.

A reference for the life insurance part of the course is: "Actuarial Mathematics"  (second edition), by Bowers, Gerber, Hickman, Jones and Nesbitt (1997). The main ideas of conditional survival, force of mortality, life table, expected remaining life, actuarial present value, premium for term insurance, and not the formulas, will be covered.

A reference for the casualty insurance part of the course is: "Loss Models: from data to decision", by Klugman, Panjer and Willmot. Parts of this book overlap with a document called "Estimation, Evaluation, and Selection of Actuarial Models" by Klugman, (see http://www.casact.org/library/studynotes/klugman4.pdf). The main topics to be covered are statistical models for claim data, estimation methods for parametric models, and model evaluation/selection.