Insurance Products

Brief description

  • Fundamentals of life insurance mathematics:
    • Calculation of annuities with given interest
    • Construction, application, and contents of a mortality table
    • Making use of a commutation values for determining premiums of endowment and death insurance products
  • Fundamentals of non-life insurance mathematics:
  • Applying the concept of loss triangles
  • 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: 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. 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

2025

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