Premium calculation in the insurance
Integrated course, 5.00 ECTS
Course content
The course embraces the basics of premium calculation for property-casualty and life insurance as well as their legal framework conditions.
The core contents include:
[1] Fundamentals of calculation (principle of equivalence)
[2] Premium calculation in life insurance: calculation bases, premium calculation, actuarial reserve, profit sharing systems
[3] Premium calculation in health insurance: calculation bases, premium calculation, special features of health insurance
[4] Premium calculation in property and casualty insurance: premium calculation models (supply vs. demand-driven pricing) / modern pricing techniques
Learning outcomes
After completing the insurance premium calculation module, students are able to comprehend the premium calculation for property, casualty and life insurance and are familiar with the legal basis for the premium calculation, the profit-sharing models and the relationships between premium and actuarial reserve.
Recommended or required reading and other learning resources / tools
Literature: Predota: Prämienkalkulation in der Lebensversicherung: Einführung mit Beispielen aus der Praxis;
Predota: Prämienkalkulation in der Lebensversicherung: Übungsbuch mit Musterlösungen;
Radtke: Grundlagen der Kalkulation von Versicherungsprodukten in der Schaden- und Unfallversicherung;
Albrecht: Grundprinzipien der Finanz- und Versicherungsmathematik, Verlag Schäfer-Pöschel;
Führer, Grimmer: Einführung in die Lebensversicherungsmathematik, Verlag Versicherungswirtschaft;
Mode of delivery
ILV
Prerequisites and co-requisites
Quantitative fundamentals, financial, banking and insurance products, main features of the law,
Assessment methods and criteria
Final examination including continuous assessment