Actuarial Mathematics (2) - NU

Premium Calculation & Advanced Policy Values: Reviewing net and gross premium calculations, portfolio percentile principles, and calculating recursive relationships for policy values.Multiple Decrement Models: Analyzing multi-risk scenarios where a policy can terminate due to multiple competing factors (e.g., death, disability, or critical illness) instead of just single-cause mortality.Multiple Lives Models: Calculating risk probabilities, premiums, and values for contracts contingent on more than one person, including Joint Life and Last Survivor models.Multiple States Models: Applying discrete and continuous-time Markov Chains to evaluate transitioning risks and utilizing Kolmogorov's forward equations to price multi-state insurance benefits.Emerging Cost Techniques & Profit Testing: Determining premiums and reserves using profit testing criteria to ensure long-term product profitability for insurance firms.