Actuaries are very experienced in modelling financial risks either stemming from population dynamics or from random events. Probability theory and statistics is their daily bread. But there are many other phenomena out in the world without having a direct financial impact but should be understood by actuaries as well. This web session is about models which typically are not covered in full by actuarial exams, but which could bring better insights to risks actuaries have to price. We will show very general approaches to set up models with applications from many different areas, whether it is medicine, construction, meteorology, biology or others. Of course, this web session can only be seen as an introduction into modelling and cannot cover all interesting models, but it should enable participants to find more in literature or develop their own ideas.
The purpose of the online training is to open the mind for problems which are by nature not actuarial but are very much linked to typical actuarial questions. It should enable actuaries and risk managers to think out of the box and find new ways to solve their challenges.
This seminar is very interactive, participants are required to participate in several break-out sessions.