Actuarial

The actuarial mathematics is a branch of mathematics . Johan de Witt is considered to be its founder . It mainly deals with mathematical modeling and the statistical estimation of the insured risks (in particular damage to persons or property), the calculation of the price required for assuming such risks ( premium calculation), the calculation of technical provisions or the required equity base , controlling incl Reporting, risk management and balance sheet structure management . Actuarial mathematics is part of applied mathematics and represents an essential area of ​​application of probability theory and statistics . Financial mathematics methods are also used to represent the financial risks usually also contained in insurance contracts . It can be broken down as follows:

Sub-areas of actuarial mathematics

• Life actuarial ,
• Health insurance mathematics ,
• Pension actuarial ,
• Damage actuarial

The mathematics of the building societies are traditionally assigned to actuarial mathematics, since collectives are also considered here, albeit with purely financial mathematical methods. This tradition is also shaped by the fact that the supervisory authority responsible for insurance was also responsible for building societies in the past.

Due to the more comprehensive orientation of actuarial mathematics to all types of risks, financial mathematics can also be understood as a special case of actuarial mathematics oriented towards financial risks.

The job title of an actuarial expert is an actuary. They also refer to themselves as actuaries , especially if they have extensive knowledge of the insurance industry outside of pure actuarial mathematics and have proven this in accordance with the requirements of a national actuarial association. The national actuarial association in Germany is the German actuarial association (DAV) based in Cologne. After successfully passing the DAV exam, the actuary can call himself an actuary DAV .

See also

• Insurance tariff
• Actuarial function

literature

• Thomas Mack: Property Insurance Mathematics . Verlag Versicherungswirtschaft 1997 Issue 28, ISBN 3-88487-582-5 .
• Klaus D. Schmidt: Actuarial Mathematics . Springer 2009 (3rd edition).