Handbook

This course covers the actuarial profession syllabus for survival models, focusing on understanding and predicting mortality, morbidity, and longevity risks. It applies these techniques to life, health, and disability insurance, superannuation, finance, and epidemiology. These models help forecast risks related to events such as mortality, health changes, and credit defaults, leading to better risk quantification, pricing, and management. Key topics include: survival models and actuarial notation; Estimation of lifetime distributions; Maximum likelihood estimation of transition intensities in multi-state models, considering age and duration; graduation of crude estimates and tests for fidelity and smoothness; and models for projecting mortality trends. The course emphasizes implementing these concepts using numerical computer packages. Additionally, it will address ethical considerations and issues related to discrimination and heterogeneity in mortality and health risks.