Loss Models

STAT 47900


STAT 41700 and STAT 47200 and STAT 47300


This material provides an introduction to modeling and covers important actuarial methods that are useful in modeling. Students will be introduced to survival, severity, frequency, and aggregate models, and use statistical methods to estimate parameters of such models given sample data. The student will further learn to identify steps in the modeling process, understand the underlying assumptions implicit in each family of models, recognize which assumptions are applicable in a given business application, and appropriately adjust the models for impact of insurance coverage modifications. The students will be introduced to a variety of tools for the calibration and evaluation of the models. Permission of instructor required.