Insurance Products

• Fundamentals of life insurance mathematics: o Calculation of annuities with given interest o Construction, application, and contents of a mortality table o Making use of a commutation values for determining premiums of endowment and death insurance products • Fundamentals of non-life insurance mathematics: o Applying the concept of loss triangles o Various examples of calculations with varying distributional assumptions of occurrence and amount of damage • Delineating the services of private insurance companies from Austrian social insurance: o Working out the scope of services offered by various private insurance providers in various categories, e.g. endowment and death insurance, fire insurance, business interruption insurance. o Especially in personal insurance: Delineating services by private insurance companies from those of Austrian social insurance

Art der Vermittlung

Präsenzveranstaltung

Art der Veranstaltung

Pflichtfach

Empfohlene Fachliteratur

Wirth (2018) Skriptum zur Versicherungsmathematik [handouts on insurance mathematics, in German] Background reading: Isenbart/Münzner (1994) Lebensversicherungsmathematik für Praxis und Studium, Springer, 3rd edition Mack (2002) Schadensversicherungsmathematik, VVW, 2 Auflage Ennsfellner/Gassner-Möstl (2000) Versicherungsprodukte in Österreich, Linde, 1st edition

Lern- und Lehrmethode

Lecture (on the fundamentals of life/non-life insurance mathematics; working out mathematical problems) Students‘ research and presentations on the scope of services offered by Austrian private insurance companies; discussion

Prüfungsmethode

Continuous assessment and module exam (based on set questions)

Voraussetzungen laut Lehrplan

None

Schnellinfos

Studiengang

Banking and Finance (English)

Akademischer Grad

Bachelor

ECTS Credits

3.00

Unterrichtssprache

Englisch

Studienplan

Vollzeit

Studienjahr, in dem die Lerneinheit angeboten wird

2021

Semester in dem die Lehrveranstaltung angeboten wird

3 WS

Incoming

Nein

Lernergebnisse der Lehrveranstaltung

After successful completion of the course, students can • use the fundamentals of non-life insurance mathematics • calculate the premiums of simple endowment and death insurance products • present the theoretical fundamentals of non-life insurance mathematics • explain the theoretical fundamentals of various insurance products • compare the offers by various private insurance companies, and identify their advantages and disadvantages • delineate the services of private insurance companies and of Austrian social insurance from each other in various product categories

Kennzahl der Lehrveranstaltung

1229-19-01-VZ-EN-26