Advanced Loss Models, Credibility, and Ratemaking credit:

4 Hours

Advanced loss models used in casualty, property and health insurance. Topics include mixed and aggregate loss models, the model building cycle from model specification, to parameter estimation and calibration, to model implementation and selection, and to model assessment. Credibility theory will be also be discussed, including Buhlmann, Buhlmann-Straub and Bayesian credibility. The course also covers ratemaking and reserving in casualty insurance. 4 undergraduate hours. 4 graduate hours. Credit is not given towards graduation for both ASRM 462 and ASRM 561 . Prerequisite: ASRM 401 or STAT 400 ; ASRM 461 .