GAZI UNIVERSITY INFORMATION PACKAGE - 2019 ACADEMIC YEAR

COURSE DESCRIPTION
INSURANCE RISK MODELS/İST-426
Course Title: INSURANCE RISK MODELS
Credits 3 ECTS 5
Semester 8 Compulsory/Elective Elective
COURSE INFO
 -- LANGUAGE OF INSTRUCTION
  Turkish
 -- NAME OF LECTURER(S)
  Assoc. Prof. Meral EBEGİL
 -- WEB SITE(S) OF LECTURER(S)
  http://websitem.gazi.edu.tr/site/mdemirel
 -- EMAIL(S) OF LECTURER(S)
  mdemirel@gazi.edu.tr
 -- LEARNING OUTCOMES OF THE COURSE UNIT
Some important concepts used in insurance
Ability to learn the statistical distribution used in non-life insurance branch
Modelling the frequency of damage and the amounth of damage
Ability to learn the calculation of risk Premium
Ability to learn credibility theory
 -- MODE OF DELIVERY
  The mode of delivery of this course is Face to face
 -- PREREQUISITES AND CO-REQUISITES
  There is no prerequisite or co-requisite for this course.
 -- RECOMMENDED OPTIONAL PROGRAMME COMPONENTS
  There is no recommended optional programme component for this course.
 --COURSE CONTENT
1. Week  Some important concepts used in the theory of credibility and insurance
2. Week  Some statistical concepts to be used in the calculation of premiums.
3. Week  Used statistical distributions in the calculation of premiums in non-life insurance industry.
4. Week  The concept of credibility and The target-shooting example.
5. Week  The concept of credibility and The die and spinner example.
6. Week  Credibility problem and ıntroduction to credibility.
7. Week  Bayesian methods for Credibility theory.
8. Week  Conjugate prior distrubitions in bayesian credibility
9. Week  Midterm examination
10. Week  Credibility models,limited fluctuation credibility models, the full credibility.
11. Week  Credibility models,limited fluctuation credibility models,the partial credibility.
12. Week  Credibility models,classic credibility models,Bühlmann credibility model
13. Week  Credibility models,classic credibility models,Bühlmann-Straub credibility model
14. Week  The amount of damage modeling using data on Bühlmann-Straub credibility models
15. Week  The number of damage modeling using data on Bühlmann-Straub credibility models
16. Week  Final Exam
 -- RECOMMENDED OR REQUIRED READING
  Klugman,S.A., Panjer,H. and Willmot, G.E.,Loss models: FRom Data to Decisions,John Wiley and Sons, U.S.A.,1998. Straub,E., Non-Life Insurance Mathematics, Springer Verlag, Berlin,1988. Herzog, T.N., Introduction to Credibility Theory, 1999.
 -- PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
  Lecture, Question & Answer, Presentation
 -- WORK PLACEMENT(S)
  No
 -- ASSESSMENT METHODS AND CRITERIA
 
Quantity
Percentage
 Mid-terms
1
40
 Assignment
0
0
 Exercises
0
0
 Projects
0
0
 Practice
0
0
 Quiz
0
0
 Contribution of In-term Studies to Overall Grade  
40
 Contribution of Final Examination to Overall Grade  
60
 -- WORKLOAD
 Efficiency  Total Week Count  Weekly Duration (in hour)  Total Workload in Semester
 Theoretical Study Hours of Course Per Week
14
3
42
 Practising Hours of Course Per Week
3
5
15
 Reading
4
4
16
 Searching in Internet and Library
0
 Designing and Applying Materials
0
 Preparing Reports
5
7
35
 Preparing Presentation
0
 Presentation
0
 Mid-Term and Studying for Mid-Term
1
7
7
 Final and Studying for Final
1
10
10
 Other
0
 TOTAL WORKLOAD: 
125
 TOTAL WORKLOAD / 25: 
5
 ECTS: 
5
 -- COURSE'S CONTRIBUTION TO PROGRAM
NO
 PROGRAM LEARNING OUTCOMES
1
2
3
4
5
11. The statistical textbooks which include latest information about statistics, equipment and other resources supported by scientific approach on undergraduate level have theoretical and practical knowledge.X
22. Statisticians by using knowledge and skills acquired at bachelor degree level model, analyze, and interpret datasets.X
33. Statisticians identify and analyze the problems with current developments in statistic and also develop solutions based upon researches and proofs.X
44. Statisticians apply theoretical and practical knowledge acquired in Statistics at bachelor degree level to the current problems.X
55. Statisticians have the ability to use computer software and computing technology at the certain level required by statistics field.X
66. Statisticians take responsibility at disciplinary and interdisciplinary studies as an individual or a team member.X
77. Statisticians must have knowledge and ability to follow development in the field of Statistics, and must develop life long-learning attitudes.X
88. By using a foreign language, statistician can keep track of every statistical information, and communicate with colleagues.X
99. Applying the statistical knowledge in the professional sense, statistician has social, scientific, and ethical values.X
1010. A statistician must have the ability to social sensitivity and socialization.X
1111. During the process of inference, a statistician uses time efficiently with the analytical thinking ability.X