AKT604 - INSURANCE STATISTICS
| Course Name | Code | Semester | Theory (hours/week) |
Application (hours/week) |
Credit | ECTS |
|---|---|---|---|---|---|---|
| INSURANCE STATISTICS | AKT604 | 2nd Semester | 3 | 0 | 3 | 8 |
| Prequisites | None | |||||
| Course language | Turkish | |||||
| Course type | Elective | |||||
| Mode of Delivery | Face-to-Face | |||||
| Learning and teaching strategies | Lecture Discussion Drill and Practice | |||||
| Instructor (s) | Instructors of Department | |||||
| Course objective | To teach students basic models used in non-life insurance and inform them about actuarial calculation | |||||
| Learning outcomes |
| |||||
| Course Content | 1. Poisson Process 2. Compound Poisson Process 3. Renewal Process 4. Total Claim Amount Process 5. Reinsurance and Reserve | |||||
| References | 1. MIKOSCH, T., 2004, Non-Life Insurance Mathematics, Springer-Verlag. 2. STRAUB, E., 1997, Non-Life Insurance Mathematics, Springer-Verlag. 3. Lecture notes | |||||
Course outline weekly
| Weeks | Topics |
|---|---|
| Week 1 | 1 -Models for the Claim Number Process, 1.1 The Poisson Process, The Homogeneous Poisson Process, The Markov Property |
| Week 2 | Relations Between the Homogeneous and the Inhomogeneous Poisson Process ,The Distribution of the Inter-Arrival Times |
| Week 3 | 1.2 The Renewal Process |
| Week 4 | 1.3 The Mixed Poisson Process |
| Week 5 | Problem Solving |
| Week 6 | 2 - The Total Claim Amount, 2.1 The Order of Magnitude of the Total Claim Amount , The Mean and the Variance, The Asymptotic Behaviour |
| Week 7 | Midterm |
| Week 8 | Classical Premium Calculation Principles |
| Week 9 | 2.2 Claim Size Distribution, Modelling Claim Size Data, Standard Claim Size Distributions and Their Properties |
| Week 10 | Sub exponential Distributions |
| Week 11 | Problem Solving |
| Week 12 | 2.4 The Distribution of the Total Claim Amount, Mixture Distributions, Exact Distribution of Total Claim Amount, Approximation to the Distribution of the Total Claim Amount |
| Week 13 | 3- Reinsurance |
| Week 14 | 4 -Reserve |
| Week 15 | Preparation for Final Exam |
| Week 16 | Final exam |
Assesment methods
| Course activities | Number | Percentage |
|---|---|---|
| Attendance | 0 | 0 |
| Laboratory | 0 | 0 |
| Application | 0 | 0 |
| Field activities | 0 | 0 |
| Specific practical training | 0 | 0 |
| Assignments | 5 | 20 |
| Presentation | 0 | 0 |
| Project | 0 | 0 |
| Seminar | 0 | 0 |
| Midterms | 1 | 30 |
| Final exam | 1 | 50 |
| Total | 100 | |
| Percentage of semester activities contributing grade succes | 6 | 50 |
| Percentage of final exam contributing grade succes | 1 | 50 |
| Total | 100 | |
WORKLOAD AND ECTS CALCULATION
| Activities | Number | Duration (hour) | Total Work Load |
|---|---|---|---|
| Course Duration (x14) | 14 | 3 | 42 |
| Laboratory | 0 | 0 | 0 |
| Application | 0 | 0 | 0 |
| Specific practical training | 0 | 0 | 0 |
| Field activities | 0 | 0 | 0 |
| Study Hours Out of Class (Preliminary work, reinforcement, ect) | 14 | 6 | 84 |
| Presentation / Seminar Preparation | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Homework assignment | 5 | 12 | 60 |
| Midterms (Study duration) | 1 | 20 | 20 |
| Final Exam (Study duration) | 1 | 34 | 34 |
| Total Workload | 35 | 75 | 240 |
Matrix Of The Course Learning Outcomes Versus Program Outcomes
| D.9. Key Learning Outcomes | Contrubition level* | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1. Further develop the theoretical and applied knowledge obtained in actuarial sciences undergraduate level. | X | ||||
| 2. Conduct detailed research in a specific area. | X | ||||
| 3. Develop new problem solution techniques for actuarial problems. | X | ||||
| 4. Able to use the knowledge in actuarial sciences in multidisciplinary studies. | X | ||||
| 5. Make an efficient presentation in a given time on a specific subject | X | ||||
| 6. Arrange events and projects in actuarial sciences . Able to conduct the stages of designing, executing and reporting results of a project. | X | ||||
| 7. Have scientific scepticism. | X | ||||
| 8. Able to think analytically. | X | ||||
| 9. Follow national and international innovations and improvements in the area. | X | ||||
| 10. Follow actuarial literature | X | ||||
| 11. Use information technology in an advanced level. | X | ||||
| 12. Able to work individually and have the ability to decide independently. | X | ||||
| 13. Have the qualifications necessary for a team work and able to be the team leader. | X | ||||
| 14. Improve foreign language skills in order to do work and presentation in that language. | X | ||||
| 15. Have the consciousness of professional and social responsibility. | X | ||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest