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Statistical Techniques in Insurance (ACTL90008)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Year of offer2017
Subject levelGraduate coursework
Subject codeACTL90008
Campus
Parkville
Availability
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

Topics include experience rating; claim run-off triangles; generalised linear models; time series and their applications; simulation.

Intended learning outcomes

On successful completion of this subject a student should be able to:

  • Describe the fundamental concepts of rating and apply them to simple experience rating systems;
  • Describe and apply techniques for analysing a delay (or run-off) triangle and projecting the ultimate position;
  • Explain the fundamental concepts of a generalised linear model (GLM), and describe how a GLM may apply;
  • Define and apply the main concepts underlying the analysis of time series models;
  • Explain the concepts of “Monte Carlo” simulation using a series of pseudorandom numbers.

Generic skills

High level of development:

  • Written communication;
  • Problem solving;
  • Statistical reasoning;
  • Application of theory to practice;
  • Interpretation and analysis;
  • Synthesis of data and other information;
  • Evaluation of data and other information;
  • Use of computer software.

Last updated: 16 August 2017