Statistical agencies work on producing large quantities of data, information and indicators to make their statistical output available to the public at different levels.It’s worth mention that the purpose of the statistical system is to provide timely and high-quality data and information to support decision maker and policymaker for the purpose of planning, monitoring progress, evaluating performance and informing the public, researchers and all users about the performance of society, economy and government.
Insurance is the business of risk. It exchanges a fixed compensation (premium) against uncertain costs (benefits), in terms of timing and amounts. Insurance professionals must master probability
Though insurance actuaries play an important role in the insurance industry, few people understand what they do. An insurance actuary determines the statistical odds of an event occurring. In the insurance industry, knowing the odds of an event happening is important to properly price policies as well as to determine the proper allocation of assets.The British Academy presents this advanced training programme at statistics on insurance to develop the skills of insurance statisticians, analyze statistical data and write reports, which helps in making decisions and drawing up administrative and financial plans based on accurate and important information to improve the performance of organizations.
Objectives and target group
Who should attend?
Managers of the Central Administration
Employees in information management centers
Employees at business risk management
How attendees will benefit?
After completion of the programme, delegates will be able to know:
Demonstrate probabilistic and statistical skills in solving financial problems;
Demonstrate enhanced conceptual skills and logical reasoning ability;
Demonstrate a broad understanding of the range of application of statistics to financial processes.
Explain basic concepts and models in decision analysis and statistics, as presented in the module, and apply them in insurance;
Construct risk models appropriate to short term insurance contracts and make the related statistical inference;
Describe and apply the fundamental concepts of credibility theory;
Describe and apply the basic methodology used in rating general insurance business;
Measures of central tendency
Absolute dispersion measures
Definition of statistical report
Types / forms of statistical reports
Methods of presentation of statistical data and information
Statistical tables / drawings and graphs
descriptive analysis (analytical reading)
Life Insurance Pricing of Individual and Group Products
Health Insurance and Pension Funds Pricing for individual