Math 173B: General Course Outline
Course Description
173B. Casualty Loss Models II. (4) Lecture, four hours. Enforced requisite: course 173A. Designed to prepare students for Society of Actuaries Construction and Evaluation of Actuarial Models examination. Construction of parametric loss models and introduction to credibility theory that provides tools to utilize collected information, such as past loss information, to predict future outcomes. Use of simulation to model future events. Letter grading.
Textbook(s)
Klugman, Panjer and Wilmot, Loss Models: From Data to Decisions, 4th Edition, 2012, by SOA. Textbook is subject to change.
Updated: 9/14
Schedule of Lectures
Lecture  Section  Topics 

1 
Construction of parametric models 

2 
Selection of parametric models 

3 
Classical Credibility 

4 
Least Squares Credibility 

5 
Bayesian Analysis 

6 
Conjugate Priors 

7 
BuhlmannStraub Model 

8 
Nonparametric methods 

910 
Simulation in modeling 