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EAA Web Session 'Calculation of Life Insurance Products by Means of Markov Chains' on 27 November 2024

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­ EAA Web Session  ­
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Calculation of Life Insurance Products by Means of Markov Chains
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27 November 2024  | 10:00-12:00 CET
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­ The calculation of life insurance products is traditionally based on the approach of commutation values, whose table properties enable extensive actuarial calculations even without large computer capacities. However, especially for modern and more flexible life insurance tariffs, the calculation by means of commutation values reaches its limits, so that the calculation approach based on Markov chains is gaining in importance and has been used for some time in the mathematical cores of new portfolio administration systems.

This web session will provide an insight into the calculation of common life insurance products using the Markov approach. For this purpose, first an overview of the best-selling life insurance products in some European countries and their classic calculation will be given. In the following, the principle of Markov chains is explained and a model for calculating actuarial values is derived.

Finally, the online training also addresses problems that can arise when migrating from classically calculated portfolios to systems with the Markov approach.

The goal of this web session is to give participants an insight into the Markov chain calculation approach in life insurance and its implementation in modern administration systems. Using examples specifically tailored to life insurance tariffs, participants will also gain first practical experience with the Markov approach. Finally, the theoretical and practical components of this web session should enable them to also create and calculate new life insurance tariffs or variations of existing products by using Markov chains.

Your early-bird registration fee is € 120.00 (net) / € 142.80 (incl. VAT, if applicable) for bookings by 16 October 2024. After this date, the fee will be € 170.00 (net) / € 202.30 (incl. VAT, if applicable).		 ­
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Details
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Programme
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Registration
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­ Coming soon... ­
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...and a lot more! Explore our website for more information or download our overview.		 ­
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­ actuarial-academy.com ­
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