Learning objectives
Knowledge and understanding:
The course aims at:
- introducing the basic technical principles of the management of an insurance or pension business;
- describing life and non-life insurance products, with fixed benefits and with participating and unit-linked benefits;
- investigating the risk management process for an insurer or a pension fund.
Applying knowledge and understanding:
With regard to living benefits (provided by insurers and pension funds), the student learns the basic actuarial tools for the pricing and reserving of insurance products, the assessment of profits and the basic steps of the insurance risk management. 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.
Making judgements:
The course stimulates the ability to perform a critical analysis, as it is expected from a post-graduate students in the economic area, who is employed in the financial-insurance sector. The student is able to interpret critically the output of actuarial valuations, and she is also able to adopt autonomously simple actuarial models.
Communication skills:
The student is educated in the use of the basic actuarial-technical language. Therefore, she is able to communicate efficiently with whom is in charge of actuarial valuations. She can coordinate the more strictly technical staff with those charged with more managerial duties.
Learning skills:
The students develops the ability to interpret the technical aspects of life insurance and pension problems. She can understand the quantitative models more suitable for solving such problems. In particular, the student learn how to use non-sophisticated quantitative models and is able to go deeper into the subject in order to understand more advanced quantitative models.