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 […]
The web session "A Refresher Course in Financial Mathematics" gives an introduction to modern financial mathematics and derivative pricing. It is designed to prepare actuaries without adequate training in these fields for the quantitative parts of the CERA education. The web session is moreover an ideal learning opportunity for actuaries who want to become acquainted […]
Cross-Border business plays an important role in Europe´s insurance industry. For anyone running this business some topics are obvious. These are especially legal issues. Insurance supervision laws have been harmonised by Solvency, but not (yet) insurance contract laws or tax legislation. Even if these laws have substantial influence on the calculation of tariffs, the […]
Dr Albert Einstein had a famous quote: “In theory, theory, and practice are the same. In practice, they are not.” Since 1900, science has tried discovering insights about (institutional) investing. This course discusses learning points and trends of well-known methods such as asset liability management. The approach is based on experience to indicate where theory […]
The web session first gives an overview of current practices of applications of telematics in Europe and outside of Europe. Then best practices in pricing with telematics will be discussed and that leads to an actuarial discussion about the inclusion of big telematics data into the actuarial data-pool. The web session will close with some […]
The purpose of this session is to introduce the relevant aspects of regulation, timelines and consequences with respect to the actuarial practice. Starting from the study of relevant articles of the AI Act draft, we will develop an understanding of the impending consequences and likely interpretations of the legal framework. The seminar is structured as […]
The calculation of life insurance products is traditionally based on the approach of commutation values, whose table properties enable extensive actuarial calculations even without large computer capacities. However, especially for modern and more flexible life insurance tariffs, the calculation by means of commutation values reaches its limits, so that the calculation approach based on Markov […]
This session aims at explaining the evolution of the interest rate capital requirement under the current formula versus the new formula following the SII review and how the deficiencies have been addressed. Anmeldeschluss: 2024-01-29
Mortality curves are a critical ingredient for the valuation of any longevity-related product (for example, pensions, life insurance, reverse mortgages). Typically, several statistical agencies provide mortality curves differentiated on gender per country. However, it has been documented that people’s mortality prospects differ beyond their differences in gender. Income, education, job type, etc might all have […]
Mortality curves are a critical ingredient for the valuation of any longevity-related product (for example, pensions, life insurance, reverse mortgages). Typically, several statistical agencies provide mortality curves differentiated on gender per country. However, it has been documented that people’s mortality prospects differ beyond their differences in gender. Income, education, job type, etc might all have […]
This session aims at explaining the sources of liquidity, the requirements and supervisory measures under Solvency II, possible approaches and metrics to monitor and manage this risk. We start the session by illustrating liquidity issues on historical cases in the insurance sector and their propagation in the financial system. After the introduction, we explain […]
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 […]
