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

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Own script and slides Rotar, Vladimir I., Actuarial models: the mathematics of insurance (2007)

Planned learning activities and teaching methods

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

Assessment methods and criteria

Continuous assessment and module exam (based on set questions)

Prerequisites and co-requisites

None

Infos

Degree programme

Banking and Finance (engl.)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

English

Curriculum

Full-Time

Academic year

2021

Semester

3 WS

Incoming

No

Learning outcome

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

Course code

1229-19-01-VZ-EN-26