Nonlife Actuarial Models: Theory, Methods and Evaluation

This textbook is for undergraduate courses in actuarial science and is ideal for those approaching their professional exams. It covers loss modelling, risk and ruin theory, credibility theory, and empirical implementation of loss models, with R code available on the book's webpage.

Format: Hardback
Length: 560 pages
Publication date: 25 May 2023
Publisher: Cambridge University Press

Actuaries must undergo rigorous examinations, but their journey goes beyond mere certification. They must translate theoretical knowledge into practical applications, a requirement that this comprehensive book fully supports. Designed to align with the Society of Actuaries' short-term actuarial mathematics syllabus, it goes beyond mere theory and emphasizes the concepts and real-world applications of nonlife actuarial models. This textbook has been extensively tested in undergraduate actuarial science courses and is also an invaluable resource for individuals preparing for their professional exams. It covers essential topics such as loss modeling, risk and ruin theory, credibility theory, and the empirical implementation of loss models. In response to curriculum updates, this second edition introduces two brand new chapters on loss reserving and ratemaking. R replaces Excel as the primary computation tool utilized throughout, with comprehensive R code available on the book's website alongside lecture slides. Numerous examples and exercises are provided, many of which have been adapted from past Society of Actuaries exams. By embracing this textbook, actuaries can enhance their understanding, sharpen their skills, and confidently navigate the complex world of actuarial science.

Weight: 972g
Dimension: 159 x 237 x 34 (mm)
ISBN-13: 9781009315074
Edition number: 2 Revised edition