Actuarial Modeling - ACS 603

Severity , Frequency and Aggregate models; Impact of coverage provisions ( deductibles, limits, coinsurance) on severity, frequency and aggregate models; Risk measures (VaR, TVar); Construction of Empirical Models and empirical using Kaplan Meier, Nelson Aalen and Kernel Density estimators; Construction and Selection of Parametric Models; Estimation using Maximum Likelihood, Method of Moment, Percentile Matching and Bayesian estimation; Determination of the acceptability of fitted models using Chi-Square, Kolmogrov - Smirnov, Anderson-Darling, Likelihood Ratio test and Schwarz Bayesian criterion. This course covers 60% of SOA exam C (Construction and Evaluation of Actuarial Models) and part of CT6 (Core Technical: Statistical Methods) exam of the Institute of Actuaries.