Topics in Non-Life Insurance (Skade2)

Knowledge:

Understand basic claim number and claim frequency models.

Understand the impact of deductibles, and how to compensate for this in modelling.

Know how to use maximum likelihood to fit insurance data.

Have some insight into the art of picking relevant and useful models for the data. 

Know something about the consequences of picking a poor model

A good understanding of linear and generalized linear models, and the difference between continuous and discrete models.

Know how to fit nonstandard models, such as Pareto regression with deductibles.

Skills: 

Be able to take raw data and prepare for statistical analysis.

Be able to fit and select a meaningful model among a variety of alternatives. This includes picking good distributions, good covariates and avoid overfitting.

Run, and if necessary program in R, the necessary calculations.

Competences:

Be able to go from raw data to practical and useful statistical models. A typical application is in pricing insurance products.