< SKKU BK 21 Math Modeling Actuarial Science Open Short course on Fundamental Actuarial Practice>

      BK 21 수학적모델링 사업단 "보험모델 집중강연 - Open School " June 4 - June 12

 Thomas Seoul Talk, Thomas Math Dept Talk, Personel Chat

특강제목 (Title) :   Fundamental Actuarial Practice

강사(Lecturer): Professor Thomas Y.S. Lee
               PhD from Yale, now Prof. at University of Illinois at Chicago, USA.

특강 일정 (Schedule)

6/4 PM 3-6 - (성균관대 명륜동) 경제관 32210 : Introduction to the actuarial control cycle and Case Study
6/5 PM 3-6 - (성균관대 명륜동) 경영관 33405 : Professionalism, External Forces and Case Study
6/9 PM 3-6 - (성균관대 명륜동) 경영관 33406 : Introduction to Life Insurance and Annuities, Introduction to retirement planning and Case Study
6/11 PM 3-6- (성균관대 명륜동) 경제관 32210 : Introduction to Social Security and Conclusion and Case Study

<6/10 PM 4:30-5:30 : (성균관대 수원) Math Seminar Room : Colloquim talk for math students : Acturial Science 1 : Introduction to Life Insurance and Annuities>
<6/12 PM 4:30-5:30 : (성균관대 수원) Math Seminar Room :Colloquim talk for math students : Acturial Science 2; Introduction to Social Security>

특강 내용 (Course outline)

1. Introduction to the actuarial control cycle
2. Professionalism
3. External Forces
4. Introduction to Life Insurance and Annuities
5. Introduction to retirement planning
6. Introduction to Social Security

사례연구의 내용(Case Study)
1. Credit Insurance Pricing
2. Term Life Insurance Product Examination
3. Evaluating Acquisition
4. Managing Landfill
5. Retirement Strategy for Mr. Freeman
6. Life Needs

특강 개요(Course Overview)

Actuarial practice involves the application of quantitative, economic and financial models and analysis to long term financial management particularly in life insurance, property & casualty insurance, health insurance, and retirement planning as well as in other financial services. The purpose of this short course is to provide an introduction to the fundamental of actuarial practice with a focus on the actuarial control cycle. This overall aim of the Actuarial Control Cycle is for you to understand the basic principles underlying the actuarial management of financial products, services, and schemes across commercial, government and other environments, so that you will be able to apply those principles to a wide range of problems and issues that you may encounter in professional practice.
The emphasis of the course is on application. The course draws examples from actuarial practice and discusses implications for life insurance, annuities, credit insurance, retirement planning, and other areas where actuaries are involved in product design, pricing, reserving, investment and surplus management. Through a number of case studies and exercise, we also aim to help the students develop the use of the necessary combination of judgment, analytical and modeling skills to provide recommendations for complex situations.

  The materials cover in this short course corresponds to part of the materials cover by Fundamental of Actuarial Practice of the professional examination offer by the Society of Actuaries.
The course is delivered through lecture with exercises and case studies after each section relevant to the concepts introduced.
This short course develops the theory and practice underlying the actuarial management of risk-based and other products offered by financial institutions. The course draws examples from actuarial practice and discusses implications for life insurance, general insurance, superannuation, asset-liability management and other areas where actuaries are involved in product design, pricing, reserving, investment and surplus management. The course emphasises recent developments in actuarial theory. This course, along with ACTL4001, corresponds to the Part II courses of the professional examinations of The Institute of Actuaries of Australia.