This a recorded version of The Masterclass held by the LMA Academy on 22 November 2018 at the Old Lloyd’s Library. The module is a high level overview of basic statistical concepts widely used in the insurance industry in the areas of pricing, reserving and capital modelling.

The course starts by defining the key components of a probability model and builds up to the concept of the expected value, percentiles, Value-at-Risk (VaR) and the so-called 1-in-X event within the context of frequency and claim costs.

Throughout the course the concepts are illustrated with simple examples related to premium rating and capital requirements.

Check the PDF for this course for more information.


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