Project Goal To Develop an Actuarial Risk Model for a Small Insurance - Accounting Assignment Help

Assignment Task:

Task:

General Insurance Techniques 

Project Goal To develop an actuarial risk model for a small insurance company and to evaluate your model. 
Background A small general insurance company in New Zealand has contacted you, a consulting actuary. They are planning to expand their lines of business and they are looking for a method to set an objective standard, using sound actuarial principles, to manage their business risk over the next 10 years. 
You should prepare a report for your client that includes the following: Project Report and Questions for Discussion

1. (10%) Making a business plan, choosing a product lines, setting up the deductible or payout formula.

2. (10%) Collecting claim data.

3. (10%) Studying the claim distribution and claim probability, expected total claims and risk.

4. (10%) Determining the loaded premiums.

5. (20%) Analyzing the risk of the business.

6. (10%) Analyzing any reinsurance possibilities.

7. (20%) Summary and discussion of your model.

8. (10%) Submitting the report, typed 7-10 pages, with independent and detailed discussion and explanation of your work, including how all mathematical values were calculated or estimated. 
You should use at least two methods discussed in class as part of your analysis. Each of the following topics counts as one "method" in this context: 1. Claim lag analysis (Ch. 1 of Boland) 2. Loss Distributions (Ch. 2 of Boland) 3. Risk Theory (Ch. 3 of Boland) 4. Ruin Theory (Ch. 4 of Boland) 
 

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