Actuarial Science For Non-Actuaries

How Insurance Really Works

4.41 (325 reviews)
Udemy
platform
English
language
Other Finance & Economic
category
Actuarial Science For Non-Actuaries
1,333
students
2.5 hours
content
Jan 2019
last update
$44.99
regular price

What you will learn

Understand the concept of reserves

Have knowledge of insurance law

Become familiar with basic accounting concepts

Description

You probably have some insurance, in fact you probably have to, but how does it really work? Where do your premiums go? What does an insurer do with them?

In this course we'll see how the prices paid for insurance become claim payments and add to the economy.

From the pooling concept to reserves, expenses, landmark accounting standards, and annuities with their investments you'll learn the concepts from an industry insider with the small actuarial profession that deals with the finance of insurance.

Content

Introduction

Introduction
What Is An Actuary
The Pooling Concept
Accounting: An Introduction

Traditional Reserve Concepts

Long Duration Contracts & Reserves
Active Life Reserve Example
Illustrative Life Table
Disability Insurance And Claim Reserves
Claim Reserves Example
Unearned Premium Reserves
Margin Based Pricing
Reserving Review & Final Thoughts

Statutory Treatment Of Expenses And Reserves

The Expense Problem
Statutory Treatment Of Expenses
CRVM Reserving
UL CRVM
Two Year Preliminary Term Reserving
Annuities: An Overview
CARVM Reserves - Basic Concept
CARVM Reserves - Expense Allowance
RBC - A Brief History
CARVM - Actuarial Guidelines

GAAP Treatment Of Expenses And Reserves

GAAP Expenses and Ultimate Commissions
Premium Based DAC
EGP & FAS 97 Product DAC
FAS 97 DAC Unlocking & Truing Up
Premium Deficiency & Loss Recognition Testing

Reviews

Philip
August 11, 2023
As a statistician actuarial mathematics fascinates me, this course looks well paced with useful content well delivered.
Cherise
August 2, 2023
I like the slides only approach instead of looking at a person talk, and he has a sense of humor around the topic
Donna
May 29, 2023
Yes. I am seeking a new position in actuary science, and I need to get the basics to get through the interview. After that, I plan to study toward a certification.
Prieur
December 19, 2021
I am a non-executive director at an insurance company and am doing the course to broaden my knowledge.
Joel
February 19, 2021
This is great! The speaker gets right to the point, he's unintentionally funny (which I find engaging), and he's very clear and concise.
Abhishek
January 16, 2021
For a non actuary, i believe this course material goes bit heavy, Abbreviations must be either explained in details, or may be some glossary or notes can be added for download and reference.
Thomas
December 21, 2020
I wanted to see more content particularly on key ratio ratio calculations such as combined and loss ratios.
Teresa
November 14, 2020
There are questions to answer with about 2 years. Some topics and examples should be explained in more detail.
Orson
August 17, 2020
very good caliber course, detailed relevant explanation of the key concepts covered in the course I recommend it to you it is really worth it
Mustansir
August 14, 2020
Explains concepts which are easy for someone who has little or no understanding of insurance to manage
Sunil
November 5, 2019
So far so good but may not be adequate for the purpose. too many acronyms to remember. But definitely worth the time.
Umesh
June 4, 2019
the tables 5 years life example &with reserve interest is not tallying with formula given. Also all the abbreviations must have full form in tables.Please get in touch with Author are try to get the table contents explained properly and with arithmetic accuracy.
Naf
March 16, 2019
Not really, i am more confused than i ever was before. i have skipped some parts. I am a treaty broker and all i wanted was some knowledge on how actuaries calculate premium and run their tests, this is way too much and alot of words i have never heard in my industry.
José
January 30, 2019
Engaging presenter and good, simply put explanations for lay people on the subject at hand. Should also give examples on pricing with non-life insurance.
Shaughn
January 2, 2019
The course content matched my understanding of how insurance worked and confirmed I had the calculations in my head correct

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1860222
udemy ID
8/16/2018
course created date
8/3/2020
course indexed date
RITESH NAYAK
course submited by