Download - Master Class Actuariaat
The ESE focuses on the development,
dissemination and application of
academic knowledge from an economic
perspective. As an internationally
renowned institute, it contributes
to future economic developments
and responds to issues related to
governmental and business policies.
The ESE relies on the most recent insights in
the discipline. It collaborates with international
partners and has social tasks that are strongly
tied to the unique position of Rotterdam as an
international business hub. The ESE creates
a good working environment that permits
innovative scientifi c practice and puts academic
education at the centre of its activities.
In that light we are excited that we can offer
another programme that is a result of the
collaboration with an international partner:
The Master Class Actuarial Sciences,
powered by Allianz Nederland Groep N.V.
Mas
ter
Cla
ss A
ctua
rial S
cien
ces
2009
- 2
010
Profi t or Growth? Companies want both.Is price optimization the answer? Enter the Actuarial World.
Erasmus Flyer MasterClass DEF.indd 2-3 24-11-2009 12:06:34
Why organizing a Master Class Actuarial Sciences?Contacts with the youngest generation
talents are of great importance for an
insurance company like the Allianz Nederland
Groep N.V. We have broad experience in
insurance business and are willing to share
our knowledge but we are also searching
for new ideas and insights to stay ahead of
competition. We try to achieve this among
other things by starting discussions with young
talents from the university who are interested
in our professional world.
Starting point and target groupThe Master Class is meant for students who
want to know more about a very interesting
and dynamic discipline: actuarial sciences.
Actuaries are experts in analysing the past,
modelling the future, assessing the risk
involved by using mathematical and statistical
models and communicating what the result
means in financial terms. In the Master Class
the most important aspects of the actuarial
profession will be presented by bringing
together theory and practice.
What are the benefits for you?Students attending the Master Class will get
familiarized with the complexity of the actual
financial world and will be able to understand
this and to form their own opinion. Lectures
will be presented by specialists from the
Allianz Nederland Groep N.V. and interesting
speakers from other leading organisations.
This combination will guarantee quality and
independency of the course. Attending the
Master Class will reward students with a
certificate provided by the Erasmus School
of Economics.
Extra’sA maximum of six students who distinguish
themselves by their participation during
the courses will be offered a personal
development assessment which will be
facilitated by the Allianz Nederland Groep N.V.
A possibility could be that the assessment will
be combined with an internship on a small
project or with the complete master thesis.
Start and durationThe Master Class Actuarial Sciences starts
in January 2010 and lasts until March 2010.
The courses will be taught in English. The
kick-off event will be held in the first week of
December 2009.
Registration/further informationAllianz
Contact: Drs. R.S. Kalloe AAG
Email: [email protected]
Phone: +31 (0)10 - 454 12 48
Website: www.allianz.nl
ESE
Contact: Dr. D. Fok
Email: [email protected]
Phone: +31 (0)10 - 408 13 33
Website: www.ese.eur.nl
Master Class Actuarial Sciences
Course 1: Use of insurance statisticsThe Dutch Association of Insurers represents the interests of private insurance companies operating in the Netherlands. The Association’s members represent more than 95 percent of the insurance market expressed in terms of gross premium income. Members deliver insurance data to the Centre of Insurance Statistics, a research department of the association. The Centre of Insurance Statistics analyses the market data and provides the members with several reports. In the course the use of this market data for benchmarking, risk identification, public affais and public relations will be illustrated.
Course 2: Claims reserving techniques in non-life insuranceInsurers hold technical reserves on their balance sheets for claims that are not settled yet and for future claims to be reported. Sufficient assets have to be put aside to meet these liabilities. There are different methods to calculate the reserve amount. Stochastic models are nowadays widely used making it possible to calculate the uncertainty around the estimates.
Course 3: Financial Risk ManagementFinancial Risk Management within financial institutions is important given the risks involved and the mitigation possibilities. Risks need to be identified, analysed, reported and managed. Several methods can be used to do this. Risk management policies, clear defined risk appetite and risk governance are some requirements for good risk management.
Description courses
Programme
Course 4: Pricing processActuarial pricing is a key process of an insurance company, because adequately priced products provide competitive advantage and profitable business. The development in information technology has supplied the actuary with extended data sets and a tool box of enhanced statistical and optimization methods. The analytical skills of the actuary are essential to apply these tools in the insurance pricing process.
Course 5: Pricing of non-life insurance in dynamic marketsIn a competition between teams of students, each team gains control of a fictitious car insurance company. Each round we will alternate theoretical aspects of modern pricing (e.g. competitor analysis, GLM) with a game where the purpose is to implement new theories, using this knowledge, in your pricing structure and compete against the market to build a profitable business in a severely competitive market.
Course 6: Media optimizationMarketing plays an important role in bringing insurance products to the customer, especially since insurance is more and more sold directly to the customer. Media optimization is all about maximising the effect of your marketing efforts. The challenge is to quantify the value and the cost of each marketing action and to find the optimal mix of possible marketing actions. The actuary is very well prepared to apply his knowledge of statistical and optimization techniques to this challenge.
- 2 - - 3 -
Course 1:USE OF INSURANCESTATISTICS
Course 2:CLAIMS RESERVINGTECHNIQUES
- WRAP UP / FINAL
- KICK OFF
Course 3:FINANCIAL RISK MANAGEMENT
COURSE NAME
Course 6:MEDIAOPTIMIZATION
Course 5:CASE: PRICING OFNON-LIFE INSURANCEIN DYNAMIC MARKETS
Course 4:PRICING PROCESS
Using insurance data for benchmarking, risk identification, public relations and public affairs.
Actuarial methods used to estimate reserves required in respect of outstanding claims in non-life insurance.
Creating economic value for the company by using financial instruments to manage exposure to risk.
Short description
Maximising the effect of marketing efforts in selling insurance policies.
A competition between teams of students building a profitable business in a competitive market.
The actuarial process of calculation of a price for the risk and associated expenses.
Fred Treur
Suris Kalloe
Ron van het Hof
Ron van het Hof
Johan Voortman
Lecturer
David van Klaveren
Sarah Samantha
Bart KlingJeroen Dalhuisen
David van Klaveren
Arno van Kats
Manager Centre for Insurance Statistics
Manager Actuarial Department
Chief Executive Officer
Chief Executive Officer
Risk Consultant
Position
Actuarial Department
Master student economtrics of Erasmus University Rotterdam
Managing DirectorConsultant
Actuarial Department
Dutch Association of Insurers
Allianz Nederland Groep N.V.
Allianz Nederland Groep N.V.
Allianz Nederland Groep N.V.
Triple A Risk Finance
Company name
Allianz Nederland Groep N.V.
EMB
Allianz Nederland Groep N.V.
Erasmus Flyer MasterClass DEF.indd 4-5 24-11-2009 12:06:35