INSURANCE AND PENSION PLAN TECHNIQUE
LEARNING OUTCOMES OF THE COURSE UNIT
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.
The student will learn basic actuarial toolsfor the pricing and reserving of insurance products, the assessment of profitsand the basic steps of theinsurance 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.
COURSE CONTENTS SUMMARY
Risks: representation, transfer. The features of a pool of risks.
Technical aspects of the risk management of an insurer.
Technical aspects of life insurance products with fixed benefits: premiums, reserve, profit.
Participating and unit-linked life insurance products.
Private pension solutions.
The risks of a pension management.
RECOMMENDED READINGS
A. Olivieri, E. Pitacco. Introduction to insurance mathematics. Technical and financial features of risk transfers. Springer. 2011
ASSESSMENT METHODS AND CRITERIA
Written exam, with the possibility of a further oral exam
TEACHING METHODS
Oral and practical lesson
