This unit explores the use of statistical models in insurance: statistical models of the claim frequency and of claim size are studied. These models are a basis for the study of risk theory, ruin theory and reinsurance. Credibility theory is studied as a form of experience rating. Decision theory and simulation are also studied. Students gaining a grade of credit or higher in this unit and ACST862 General Insurance Pricing and Reserving may apply for exemption from subject CT6 of the professional exams of the Institute of Actuaries of Australia. -- Course Website
Instructor: Actuarial staff
Prerequisites: ACST601 and ACST604 or admission to MCom or MIntBus or MEc or MActPrac prior to 2011
