NMAK22010U Projects in the Mathematics of Life Insurance

Volume 2022/2023
Education

MSc Programme in Actuarial Mathematics
MSc Programme in Mathematics-Economics

Content

Selection of topics in the mathematics of life insurance with an emphasis on research of the present millennium. Topics could include but are not limited to: semi-Markov, non-Markov, and as-if-Markov modeling, non-monotone information, policyholder behavior, and market consistent valuation.

 

In the first three weeks, the students are introduced to interconnected research areas and topical research questions in actuarial science. In the following five weeks, they work (under supervision and in groups) on their own projects related to say an open problem in one of these areas. The (group) project has to be handed in to attend the exam. The exam is individual and consists of an oral defense of the project and a general discussion regarding the content of the course.

Learning Outcome

Knowledge:

  • In-depth understanding of selected topics in the mathematics of life insurance.
  • Basic insight into the mathematics of life insurance as a research field, including recent trends.

 

Skills:

  • Formulate practical problems from life insurance within mathematical-theoretical frameworks.
  • Summarize, orally as well as in writing, key aspects of an actuarial research paper.

 

Competences:

  • Read and reflect on actuarial research papers.
  • Conduct small, partly independent, research-based projects in the mathematics of life insurance.

 

In addition to the skills and competences listed above, additional skills and competences are developed depending on the selection of topics and the specific and project work of the students.

The course material will mainly consist of research papers from actuarial journals, which are made available on Absalon.

Stochastic Processes in Life Insurance (LivStok) and Topics in Life Insurance (Liv2).

Academic qualifications equivalent to a BSc degree is recommended.
First three weeks: Six hours of lectures per week.

Beginning at the end of week three and until the end of week seven: An hour of group supervision per week.
  • Category
  • Hours
  • Lectures
  • 18
  • Preparation
  • 82
  • Project work
  • 100
  • Guidance
  • 5
  • Exam
  • 1
  • Total
  • 206
Oral
Continuous feedback during the course of the semester

The students will receive continuous formative feedback in groups on their project work in the supervision sessions of weeks 3 till 7.

Credit
7,5 ECTS
Type of assessment
Oral examination, 30 minutes
Type of assessment details
The mandatory (group) project forms the basis for the oral examination.
The oral exam is without preparation time.
Exam registration requirements

The students must write and hand in the mandatory (group) project to participate in the oral exam.

Aid
Only certain aids allowed

The student can bring their (group) project for the examination.

Marking scale
7-point grading scale
Censorship form
No external censorship
Several internal examiners.
Re-exam

Same as the ordinary exam, but the student is allowed to hand in a new version of the project no later than three weeks before the beginning of the re-exam week. If the mandatory (group) project has not been handed in before the ordinary exam, it must be handed in no later than three weeks before the beginning of the re-exam week to attend the exam.

Criteria for exam assesment

The student must in a satisfactory way demonstrate that they have mastered the learning outcome of the course.