MAT6366 Mathematics for Insurance

The current module seeks to equip students with advanced skills in risks analysis for insurance industry. Indicative content include 

1) Probability distributions and insurance application

2) Utility theory

3) Principles of premium calculation

4) The collective risk model

5) The individual risk model

6) Introduction to ruin model

7) Classical ruin theory

8) Advance ruin theory

9) Reinsurance

References

1. David C. M. Dickson, Insurance Risk and Ruin, (International series on actuarial science), Cambridge University Press, the Edinburgh Building, Cambridge CB2 2RU, UK, 2005.

2. Alexander Melnikov, Risk analysis in Finance and Insurance, Chapman and Hall/CRC, London, 2004