Loss Distributions for Actuarial Models

By MJ the Fellow Actuary
4.54 (141 reviews)
Udemy
platform
English
language
Financial Modeling & Ana
category
instructor
Loss Distributions for Actuarial Models
1 820
students
4.5 hours
content
Mar 2022
last update
$19.99
regular price

Why take this course?


Course Headline: Master Loss Distributions for Actuarial Modeling with MJ the Fellow Actuary 🌟

Course Description: Dive into the world of actuarial science with our comprehensive online course, Loss Distributions for Actuarial Modeling. Taught by the esteemed Michael Jordan (not to be confused with the basketball legend, but equally a maestro in his field!), this course is designed to equip student actuaries with a solid understanding of loss distributions, their properties, and the application of these concepts in real-world scenarios.

What You'll Learn:

  • Understanding Loss Distributions:

    • The essential properties of statistical distributions used in modeling individual and aggregate losses.
  • Concepts of Risk Sharing:

    • How to handle excesses (deductibles) and retention limits within your models.
    • The intricacies of proportional and excess of loss reinsurance agreements.
  • Statistical Tools in R Studio:

    • Master the use of R Studio to derive distributions, calculate moments, and estimate parameters for claim amounts paid by both insurers and reinsurers.
    • Learn to work with data incomplete or complete, applying maximum likelihood and the method of moments to estimate parameters accurately.
  • Parameter Estimation:

    • Fit statistical distributions to datasets using R Studio.
    • Calculate goodness of fit measures to ensure your model aligns with real-world data.
  • Compound Distributions:

    • Explore the concept of compound distributions and how to represent their moments using child distributions.

Key Features:

  • Real-World Applications: Learn through practical examples and case studies that showcase how these principles are applied in the field of actuarial science.

  • Hands-On Practice: Engage with interactive exercises, simulations, and real datasets to solidify your understanding of loss distributions and risk sharing mechanisms.

  • R Studio Mastery: Gain proficiency in using R Studio for statistical analysis, ensuring you can confidently apply these tools in professional settings.

Why Enroll?

  • Expert Instruction: Learn from Michael Jordan, a distinguished actuary with years of experience in the field.

  • Flexible Learning: Study at your own pace, with access to course materials 24/7.

  • Community Support: Join a community of like-minded learners and professionals who are as passionate about actuarial science as you are.

Course Outline:

  1. Introduction to Loss Distributions:

    • Understanding the role and importance of loss distributions in actuarial models.
  2. Risk Sharing Mechanisms:

    • Explaining excesses (deductibles) and retention limits.
    • Demystifying proportional and excess of loss reinsurance.
  3. Parameter Estimation Techniques:

    • Deriving distributions and moments with R Studio in the presence of excesses and reinsurance.
    • Using maximum likelihood and the method of moments to estimate parameters.
  4. Data Analysis with R Studio:

    • Fitting distributions to datasets.
    • Analyzing goodness of fit measures.
  5. Compound Distributions Deep-Dive:

    • Understanding compound distributions and their representation.

By the end of this course, you'll not only understand the theoretical underpinnings of loss distributions in actuarial science but also be adept at applying these concepts using R Studio. Whether you're an aspiring or seasoned actuary, this course will provide you with the tools and knowledge necessary to excel in your career. 📊🚀


Enroll Now and Transform Your Actuarial Skills with MJ the Fellow Actuary! 🎉✨

Course Gallery

Loss Distributions for Actuarial Models – Screenshot 1
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Loss Distributions for Actuarial Models – Screenshot 2
Screenshot 2Loss Distributions for Actuarial Models
Loss Distributions for Actuarial Models – Screenshot 3
Screenshot 3Loss Distributions for Actuarial Models
Loss Distributions for Actuarial Models – Screenshot 4
Screenshot 4Loss Distributions for Actuarial Models

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2879180
udemy ID
17/03/2020
course created date
20/03/2020
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