Risk Insurance¶

Week 1, first lecture · Outline reference: Part 1.1

• Cumulant Generating Function
• Mixed Discrete and Continuous Loss Distribution
• Ordinary Deductible
• Probability Generating Function

Review lecture 1 in Concept Finder 4 concepts

Week 1, second lecture · Outline reference: Part 1.1

• Franchise Deductible
• Pareto Loss Model
• Stop-Loss Transform and Reinsurance
• Loss Elimination Ratio
• Policy Limit

Review lecture 2 in Concept Finder 5 concepts

Week 2, first lecture · Outline reference: Parts 1.1–1.2

• Coinsurance
• Individual Risk Model
• Collective Risk Model

Review lecture 3 in Concept Finder 3 concepts

Week 2, second lecture · Outline reference: Parts 1.2–2.1

• Compound Risk Distribution
• Maximum Claim in a Portfolio
• Maximum Likelihood Estimation
• Compound Poisson Distribution
• Compound Poisson Process
• Superposition of Compound Poisson Risks

Review lecture 4 in Concept Finder 6 concepts

Week 3, first lecture · Outline reference: Parts 2.1–2.2

• Exponential Family
• Generalized Linear Model
• Likelihood for Censored Loss Data
• Likelihood for Grouped Loss Data
• Likelihood for Truncated Loss Data

Review lecture 5 in Concept Finder 5 concepts

Week 3, second lecture · Outline reference: Part 2.2

• Information Criteria for Risk Models
• Poisson Regression
• Exposure Offset in Claim-Frequency Models
• Overdispersion in Count Models
• Rating Factors and Interactions in Insurance GLMs

Review lecture 6 in Concept Finder 5 concepts

Week 4, first lecture · Outline reference: Part 3.1

• Expected Utility and Risk Aversion
• Absolute Risk Aversion

Review lecture 7 in Concept Finder 2 concepts

Week 4, second lecture · Outline reference: Parts 3.1–3.2

• Insurance Indifference Premiums
• Stochastic Order

Review lecture 8 in Concept Finder 2 concepts

Week 6, first lecture · Outline reference: Part 3.2

• Stop-Loss Order
• Thicker-Tailed Comparison
• Crossing Criteria for Risk Orders

Review lecture 9 in Concept Finder 3 concepts

Week 6, second lecture · Outline reference: Part 3.2

• Convex Order and More Dangerous Risks
• Exponential Order
• Second-Order Stochastic Dominance

Review lecture 10 in Concept Finder 3 concepts

Week 7, first lecture · Outline reference: Parts 3.2–4.1

• Premium Principles and Their Properties
• Risk Orders Under Aggregation
• Stop-Loss Separation Theorem
• Expected Value Premium Principle

Review lecture 11 in Concept Finder 4 concepts

Week 7, second lecture · Outline reference: Parts 4.1–4.2

• Bonus-Malus System
• Exponential Premium Principle
• Standard Deviation Premium Principle
• Variance Premium Principle
• Zero-Utility Premium

Review lecture 12 in Concept Finder 5 concepts

Week 8, first lecture · Outline reference: Part 4.2

• Bonus-Malus Transition Matrix
• Hunger for Bonus
• Stationary Bonus-Malus Distribution and Premium

Review lecture 13 in Concept Finder 3 concepts

Week 8, second lecture · Outline reference: Part 4.2

• Loimaranta Efficiency
• Optimal Bonus-Malus Relativities

Review lecture 14 in Concept Finder 2 concepts