Kyiv National Economic University named after Vadym Hetman

Actuarial calculations

Science "Actuarial calculations" is a professional discipline in the system of preparation masters according to the program "Insurance Management", aimed at training of masters who must know the modern methods of actuarial mathematics for monitoring and optimizing the risks of insurance company.

 

The aim of mastering the discipline in the context of preparing specialists of a certain specialty. Its relationship with other disciplines of the curriculum.

The aim of mastering the disciplineis the formation of students' sustainable knowledge on theory and practice of actuarial calculations in the organization of financial balance sheet of insurance companies.

In the process of teaching the discipline the following tasks are being solved:

• acquiring skills and abilities of analyzing the mechanism of actuarial ensuring of the meeting the insurers' obligations to policyholders;

• studying the characteristics of the insurer's money circulation through financial and insurance annuities;

• highlighting specific calculation of tariffs under contracts of general and savings insurance;

• taking appropriate management decisions in the risk management process of insurance risks.

Science "Actuarial calculations" has a close structural and logical relationship with such sciences (disciplines) as "Probability theory", "Statistics", "Management", "Insurance", "Insurance Management", "Reinsurance".

 

The list of knowledge and skills that students will acquire after mastering this discipline.

As a result of studying the science, students should know:

• the fundamentals of actuarial calculations that are the basis of the financial enforcement of meeting insurance liabilities of the insurer;

• methods of calculating net and gross premiums for contracts of general and long term insurance;

• methods of formation and management of insurance reserves, taking into account the financial stability of the insurer;

• international and national legislative and regulatory framework for determining premiums as a basis for financial meeting actuarial liabilities and forming insurance reserves.

will be able to:

• apply the basic parameters and methods of the actuarial calculations' apparatus in determining insurance premiums on general and long term insurance contracts;

• organize and carry out the collection, monitoring and analysis of initial statistical data needed to calculate insurance rates, premiums, annuities and other actuarial variables;

• apply the national legislative and regulatory framework to determine the actual value of insurance service on general and long term insurance contracts;

• calculate and adjust the value of the mathematical and technical reserves of the insurer in accordance with the change in the risk degree;

• choose a reliable insurer (reinsurer) with the specific features and risks of specific entities;

• cooperate intelligently with specialists of various institutions of the insurance market infrastructure.

 

The scope of the implementation of acquired knowledge and skills in the future profession.

Knowledge and skills acquired in the study of science can be successfully used for monitoring, analysis and organization of the insurer's balance sheet liabilities with a view to increasing the capitalization of the insurance business, increase of cognized premiums, planning and optimal formation and placement of insurance reserves. They can be used by graduates in positions of managers, insurance agents, brokers, underwriters, risk managers, actuaries, economists, civil servants of specialized agencies and researchers.

Summary of the discipline offered for studying in modules and topics.

Topic 1. The need for actuarial calculations and actuarial mathematics content

Topic 2. Formation and development of actuarial science in Ukraine

Topic 3. Elements of financial mathematics and statistics

Topic 4. Financial annuities

Topic 5. Insurance annuities

Topic 6. The calculation of premiums for life insurance contracts

Topic 7. Insurance reserves for life insurance

Topic 8. The elements of probability theory

Topic 9. The calculation of tariffs for contracts of general insurance

Topic 10. Insurance reserves of the general insurance

 

Teaching staff:

O.D. Kolotylo Ph.D., associate professor

 

Basic bibliography:

1. Insurance: Textbook / Managers of aut.group and scien. Ed. O.O.Gamankova, S.S. Osadets - K .: KNEU, 2013.

2. Thomas Mack. Mathematics of risks insurance. - M .: Olympus-business; 2005.

3. Master Program "Insurance Management": educational and methodical complex / Col. auth. under the dome of  S.S.Osadets. - K. KNEU. 2008.- 448p.

Last redaction: 16.03.16