Courses – Fakultet tehničkih nauka u Novom Sadu

Subject: Applied actuarial mathematics (17.IMS355)

Type of studies	Title
Specialised Academic Studies	Engineering Management (Year: 1, Semester: Summer)

General information:

Category	Professional-applicative
Scientific or art field	Teorijska i primenjena matematika
ECTS	5

Students are introduced to the main function of insurance, ie. compensation of damages and payment of insured sums when the insured case is realized. This is a branch of applied mathematics, which processes the mathematical fundamentals of life insurance. Determines the obligations of the insured and the insurance company. In addition to its primary function of compensating for damages in case of occurrence of a harmful event, it also has a secondary financial function. Getting to know the practical way of determining tariffs in life insurance. Using the equivalence principle of the equality of all payments and all payments reduced to the same time as the basic principle of actuarial mathematicians

The acquired knowledge students should used in further education. The student will be able to make and solve mathematical models using the knowledge from this subject. Student gets knowledge in the area of probability, statistics, interest account and insurance. This knowledge student can use in professional work and further professional development.

Property insurance. Facial insurance. Technical basics of insurance. The calculation basis for the insurance of a person. Mortality tables. Interest rate. Costs of insurance implementation. Application method. Life insurance model. Basic terms. The basic size of life insurance. Probability of life and death of one person. Probably the lifetime. Average life duration. Commutative numbers. Life insurance for one person. Secure payment by desk (one-time premium). Insurance by paying multiple premiums. LIFE INSURANCE TARIFFS: Annuity insurance. Direct lifetime rent. Delayed lifetime rent. Direct temporary rent. Delayed temporary rent. Insurance of capital. Capital protection for the case of experiencing. Capital endowment for death. Lifetime insurance for capital in case of death. Deferred capital insurance in case of death. Temporary capital security in case of death. Deferred temporary capital security in case of death. Mixed insurance.

Lectures, Numerical calculus and computer exercises. In the lectures the theoretical part of the material is presented with characteristic examples for easier understanding of the material. At the exercises, which follow lectures, they do tasks from the materials trained with the lecture materials. In addition to lectures and exercises, consultations are also held regularly. A part of the material, which makes the logical whole, can also be taken during the teaching process through a colloquium.