Actuarial Loss Models

A Concise Introduction

This book covers part of the learning outcomes of the Fundamentals of Actuarial Mathematics (FAM) exam and the Advanced Short-Term Actuarial Mathematics (ASTAM) exam administered by the Society of Actuaries. It can be used by students and practitioners who prepare for actuarial exams.

Actuarial loss models are statistical models used by insurance companies to estimate the frequency and severity of future losses, set premiums, and reserve funds to cover potential claims. Actuarial loss models are a subject in actuarial mathematics that focus on the pricing and reserving for short-term coverages.

This is a concise textbook written for undergraduate students majoring in actuarial science who wish to learn the basics of actuarial loss models. This book can be used as a textbook for a one-semester course on actuarial loss models. The prerequisite for this book is a first course on calculus. The reader is supposed to be familiar with differentiation and integration.

This book covers part of the learning outcomes of the Fundamentals of Actuarial Mathematics (FAM) exam and the Advanced Short-Term Actuarial Mathematics (ASTAM) exam administered by the Society of Actuaries. It can be used by actuarial students and practitioners who prepare for the aforementioned actuarial exams.

Key Features:

• Review core concepts in probability theory.
• Cover important topics in actuarial loss models.
• Include worked examples.
• Provide both theoretical and numerical exercises.
• Include solutions of selected exercises.

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