European Actuarial Academy (EAA)

Regulatory frameworks such as Solvency II require non-life insurers to quantify extreme risks — most notably the 99.5% Value-at-Risk over a one-year horizon for the Solvency Capital Requirement (SCR). In practice, however, this poses a fundamental challenge: historical loss data contains little to no information about such rare events, making direct estimation inherently unreliable. This […]

The 4-day web session assists actuaries in broadening their knowledge about modern quantitative financial and actuarial modelling; these topics form an essential part of the CERA syllabus. At the beginning of the online training we give a brief overview of the EAA-route to the CERA designation. The core part of the web session begins with […]

This is part one of four courses required to obtain the EAA Certificate in Actuarial Data Science. To earn the certificate, participants must complete all four modules, which include both the seminar and the exam. Members of AVÖ and/or DAV will obtain the additional title Certified Actuarial Data Scientist (by AVÖ and/or DAV) by fulfilling […]

This module deals with the challenges of implementing ERM Processes. It includes requirements on ERM Processes and the discussion of best practices. It will be presented how to define an organisation’s risk strategy, risk appetite, risk tolerances and limits. We discuss how business strategy influences risk strategy and show their necessary interaction. We demonstrate the […]

The present training is concerned with the question of economic capital in corporate management. Key aspects are: economic valuation and performance economic steering key performance indicators value based management A simplified case study for a life insurer shows in a nutshell the central aspects of corporate management in practice. The course consists of lectures and […]

In commercial insurance, pricing and reserving are often treated as separate disciplines - different teams, different tools, different cycles. Yet they are two lenses on the same portfolio. When they operate in isolation, they might give conflicting messages to underwriting and management, resulting in portfolio mismanagement. Individual risk pricing, as sophisticated as it has become, […]

Deep learning has become the core engine of modern AI, enabling models to learn rich, non linear patterns directly from data. In recent years, this paradigm has scaled into a new generation of systems capable of generating text, solving problems, and interacting in natural language: Large Language Models (LLMs). Participants will revisit, during this 3-hour […]

The two-day in-person seminar offers actuaries a structured entry into the broad field of artificial intelligence. It teaches the key terms of data science and AI, the essential concepts of machine learning, and current developments in generative AI, along with the principles of trustworthy AI and the requirements of the EU AI Act. The techniques […]

The aim of this training is to Define what ALM is and describe the typical missions of an ALM department in an insurance company Present the financial risks on which ALM classically focus as well as the requirements of the Solvency II regulation for insurance companies Describe the essential quantitative ALM tools and methods used […]

This is part three of four courses required to obtain the EAA Certificate in Actuarial Data Science. To earn the certificate, participants must complete all four modules, which include both the seminar and the exam. Members of AVÖ and/or DAV will obtain the additional title Certified Actuarial Data Scientist (by AVÖ and/or DAV) by fulfilling […]