1. General insurance products and business environment (1.1 - Introducing general insurance markets, and insurance and reinsurance products from the perspectives of customers and insurance companies., 1.2 - Describing how various internal and external strategy, regime, guidance, and factor changes impact on general insurance business environment.)
2. Risk and uncertainty on general insurance pricing (2.1 Describing the main risks and uncertainties on pricing that threaten profitability or solvency.)
3. Data and actuarial analysis on general insurance pricing (3.1 - Describing the types and uses of data in pricing., 3.2 - Describing the potential issues by errors and inadequacy of data., 3.3 - Describing the actuarial analysis and investigation in pricing.)
4. Pricing for general insurance (4.1 - Describing the components and applying basic methodology of pricing/ratemaking., 4.2 - Describing the factors to consider during ratemaking., 4.3 - Describing various rating assumptions/bases., 4.4 - Describing and applying the collective risk model for pricing., 4.5 - Describing and applying the main approaches for pricing: burning cost, frequency-severity, and original loss curves., 4.6 - Describing the use of and applying generalised linear models, multivariate modelling, and machine learning in pricing.)
5. Credibility, reinsurance, and catastrophe modelling on general insurance pricing (5.1 - Describing and applying the credibility models for pricing, including classical and Bayes credibility models., 5.2 - Describing the pricing for various types of reinsurance products., 5.3 - Describing the fundamentals of catastrophe models for pricing.)
By the end of the course, students should be able to do the following:
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SCQF Level: 11
Credits: 15