ASRM 490. Advanced Actuarial Research

Student Learning Outcomes

1. Students will use actuarial research techniques including, but not limited to, reading and analyzing actuarial white papers and interviewing experts.
2. Students will demonstrate understanding of the key elements of developing an actuarial tool, model, methodology or recommendation.
3. Students will be able to present the results of actuarial research in a clear and concise manner.

Prerequisite: ASRM 390 or consent of instructor

Course Description

Working in small groups, students will utilize previously acquired knowledge of a particular actuarial topic to produce a tool, model, methodology or recommendation.  They will read papers and understand their content.  They may seek data sources or acquire additional programming skills to complete their project.  Using these information sources and new skills, students will develop a tool, model, methodology or recommendation.  They will present their work on their selected topic to a small audience.

Meeting with Instructor

Students will arrange weekly meetings with their project instructor.  The timing and length of the meetings will vary depending on the content of the project.  The meetings may also vary throughout the semester.  For example, meetings may be more frequent early in the semester as the topic is introduced.  Meetings may be more frequent during key review periods.  Meetings may be less frequent while the group makes independent progress on their project.  Meetings will average approximately 50 minutes per week per credit hour.

Sample topics

• IFRS 17
• Risk Based Capital (RBC) for an Illinois based insurance company
• Solvency II for an insurance company in Europe
• Practical Implementation of Optimal Reinsurance under distortion risk measures
• Pricing Insurance product via principle of equivalent utility

Students are expected to work 10 hours per week on their Research Project.

Assessment

Assessment will be based on the following criteria

• Research Results
• Presentation of Results
• Attitude and Motivation

Evaluation

100% Group Project

Attendance Policy

Weekly meetings with the research advisor are required.  In the event a student needs to miss a meeting, the student must contact their advisor prior to make other arrangements.

Academic integrity

• Violations of academic integrity (for example, cheating on exams) will be taken extremely seriously, and will be handled under the procedures of Article I, Part 4 of the student code.
• Please note that some of the penalties outlined in the Student Code are quite unpleasant. A standard penalty for cheating on an exam is a score of zero on the exam and a permanent letter in the student's college file.

Students with disabilities

To obtain disability-related academic adjustments and/or auxiliary aids, students with disabilities must contact the course instructor and the Disability Resources and Educational Services (DRES) as soon as possible. To contact DRES, you may visit 1207 S. Oak St., Champaign, call 333-4603, e-mail disability@illinois.edu or go to the DRES website.