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Applied demography and actuarial models in life insurance

The seminar in Czech language has been already open.
The seminar in English language will be agreed later during the year.

Section 1: Basics of demographical mortality analysis

 Presenter: RNDr. Klára Hulíková Tesárková, Ph.D.

  • Basic description and analysis of mortality (necessary data, elementary ratios and indicators)
  • Lexis diagram and its application, cohort and transversal approach, basic measures and its visualization in the Lexis diagram.
  • Mortality development in Europe after the WWII.
  • Life (mortality) table, its construction and application. Analysis of the table functions – decomposition, rectangularisation process and compression of mortality.
  • Factors affecting mortality (age, sex, education, marital status, region). Analysis of different causes of death.
  • Parametric functions for death intensity modeling

Section 2: Mortality models

Presenter: Ing. Pavel Zimmermann, Ph.D.

  • Dynamic mortality models

             o Lee Carter and its modifications
             o CBD model
             o Convergence models

  • Convergence of populations, its measuring and searching for ‘limit populations‘
  • Parameter estimates (SVD, Maximum likelihood)
  • High age mortality models (Kannisto, Gompertz- Makeham, Denuit‐Goderniaux etc.)
  • Practical problems in (longterm) mortality forecasting
  • Selection factor
  • Models of impact of some factors affecting mortality (education, marital status…)
  • Multivariate models – implementation of different causes of death

Section 3: Mathematics of life insurance

Presenter: RNDr. Martin Janeček, Ph.D.

  • Traditional actuarial calculations (premium, provisions).
  • Flexible products of life insurance, principles of these products. Comparison with the traditional products.
  • Projections of the financial variables of a life insurer. Basic components (variables) of the models and principles (differences from traditional assessment). First and second order assumptions.
  • Cash flow projections (deterministic, stochastic). Value of the liabilities (BEL, FV, …), risk margin – calculation and liability adequacy test – LAT (economic principles), Assets Liability Management analysis (ALM), Solvency (I and II), etc.
  • Profit / loss projections (deterministic, stochastic). Profit testing (profit criterions), sources of profit of a life insurer, planning, value of the company and its analysis VNB, KPIs etc.
Contact us

t: +420 604 558 695

Martin Janeček
t: +420 604 294 866


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