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Statistics for Insurance - MAT00061M

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  • Department: Mathematics
  • Module co-ordinator: Prof. Degui Li
  • Credit value: 10 credits
  • Credit level: M
  • Academic year of delivery: 2022-23

Related modules

Co-requisite modules

  • None

Prohibited combinations

  • None

Module will run

Occurrence Teaching cycle
A Spring Term 2022-23

Module aims

This module aims to introduce statistics theory and methodology which are relevant to insurance and actuarial science.

Module learning outcomes

At the end of the module you should be able to:

  • have developed a knowledge and good understanding of models for analysing insurance data;
  • have a good degree of familiarity with distributions and inferential techniques in the analysis of insurance data;
  • have a reasonable degree of familiarity with the main statistical theory in the analysis of insurance data;
  • know what sorts of methodologies should be applied to model insurance risk in different periods;
  • use statistical software to analyse insurance data by various methodologies.

Module content

This module covers the following five topics:

1)    Claims reserving and pricing with run-off triangles;

2)    Commonly-used loss distributions;

3)    Risk theory;

4)    Ruin theory;

5)    Generalised linear models.



Task Length % of module mark
Online Exam 24 hrs
Statistics for Insurance
N/A 100

Special assessment rules



Task Length % of module mark
Online Exam 24 hrs
Statistics for Insurance
N/A 100

Module feedback

Current Department policy on feedback is available in the undergraduate student handbook. Coursework and examinations will be marked and returned in accordance with this policy.

Indicative reading

Boland, P. (2011). Statistical and Probabilistic Methods in Actuarial Science. Chapman & Hall/CRC Interdisciplinary Statistics.

Cizek, P., Hardle, W. and Weron, R. (2011). Statistical Tools for Finance and Insurance (2nd Edition). Springer.

Daykin, C. D., Pentikainen, T. and Pesonen, M. (1993). Practical Risk Theory for Actuaries. Chapman & Hall/CRC.

Dickson, D. (2010). Insurance Risk and Ruin. International Series on Actuarial Science, Cambridge University Press.

Kaas, R., Goovaets, M. and Dhaene, J. (2008). Modern Actuarial Risk Theory: Using R. Springer

The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.