Learning objectives
The aims of the course are: <br />
- to introduce to the technical foundation of insurance management; <br />
- to examine insurance products covering life and non-life risks; <br />
- to investigate the steps of the risk management process for an insurer. <br />
The expertise gained by the student on the topics dealt with in the course are suitable for several positions in an insurance company or a pension fund. Outside the insurance area, the knowledge provided by the course can help in understanding the features of the risk management services provided by an insurance company to an industry or an individual. <br />
Prerequisites
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Course unit content
<br />
The technical structure of insurance contracts: non-life and life products. <br />
The pricing of an insurance product. Risk classification. Mutuality and solidarity. Technical bases for non-life and for life insurance. <br />
The management of short-term products. Technical reserves and surplus assessment. <br />
The management of long-term products. Mathematical reserves and profit assessment. <br />
The risk management of an insurance portfolio. Reinsurance. Capital allocation. Alternative risk transfers. <br />
Full programme
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Bibliography
<br />
E. Pitacco, Elementi di matematica delle assicurazioni, Lint Editoriale, Trieste, 2002. Further bibliographic references will be given during the lectures and indicated in the detailed course programme. Excel files relating to the exercises can be downloaded from the course site.
Teaching methods
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Assessment methods and criteria
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Other information
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