Actuarial Science For Non-Actuaries

How Insurance Really Works

You probably have some insurance, in fact you probably have to, but how does it really work? Where do your premiums go? What does an insurer do with them?

What you’ll learn

• Understand the concept of reserves.
• Have knowledge of insurance law.
• Become familiar with basic accounting concepts.

Course Content

• Introduction –> 4 lectures • 26min.
• Traditional Reserve Concepts –> 8 lectures • 50min.
• Statutory Treatment Of Expenses And Reserves –> 10 lectures • 54min.
• GAAP Treatment Of Expenses And Reserves –> 5 lectures • 31min.

Requirements

You probably have some insurance, in fact you probably have to, but how does it really work? Where do your premiums go? What does an insurer do with them?

In this course we’ll see how the prices paid for insurance become claim payments and add to the economy.

From the pooling concept to reserves, expenses, landmark accounting standards, and annuities with their investments you’ll learn the concepts from an industry insider with the small actuarial profession that deals with the finance of insurance.