Handbook

This course covers the actuarial mathematics, models and techniques for valuing long-term contingent cashflows. In-depth understanding of valuation of claims is a key aspect of actuarial work, specifically in the areas of life insurance, health, disability insurance, superannuation and pensions, as well as broader financial institutions. This course combines the present value principle with various stochastic tools in pricing, reserving, cashflow projection and profit testing tasks for various products in life insurance, health and disability, and pension and superannuation space. The fundamental techniques covered in the course help insurers to adequately price and manage the risks of various contracts in life insurance and pension systems, hence allowing the creation of products to help individuals manage risks. They are also increasingly applied in broader areas including social protection and government policy.