General Insurance Actuarial Generalist

2 sequenced courses

GI 101
Ratemaking and Reserving ▼
  • Understand key considerations and key concepts underlying general insurance actuarial work.
  • Demonstrate the ability to prepare claims and exposure data for general insurance actuarial work.
  • Know how to calculate and evaluate projected ultimate values.
  • Understand financial reporting of claim liabilities with respect to unpaid unallocated loss adjustment expenses.
  • Understand trending procedures as applied to ultimate claims, exposures and premiums.
  • Apply the fundamental ratemaking techniques of general insurance.
  • Define an approach for actuarial analyses supporting financial reporting and ratemaking analyses under various real-life scenarios.
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GI 201
Operational, Financial, Regulatory and Legal ▼
  • Assumes knowledge from GI 101
  • Understand the structure and functions of a general insurance company.
  • Describe the regulatory environment for general insurance.
  • Understand tort law and insurance law with respect to its effect on general insurance.
  • Understand elements of financial economics relevant to general insurance.
  • Understand the elements of financial reporting for general insurance companies.
  • Understand the analysis of a general insurer’s financial health.
  • Understand standards of practice and professionalism required of the actuary.
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2 additional courses

GI 301
Further Topics in General Insurance ▼
  • Assumes knowledge from GI 101
  • Use stochastic loss development models to estimate reserve variability.
  • Understand the considerations in the development of losses for excess limits and layers.
  • Estimate premium liabilities.
  • Understand the considerations in selecting a risk margin for unpaid claims.
  • Apply methods to monitor actual versus expected experience.
  • Understand and apply ratemaking techniques for the following situations: classification ratemaking, deductible options, increased limit options, claims-made policies and individual risk rating.
  • Demonstrate knowledge of reinsurance topics including the issues encountered when performing a reserve analysis on reinsurance, how to apply the fundamental techniques of reinsurance pricing and risk transfer testing of reinsurance contracts.
  • Understand catastrophe modeling output and the allocation of catastrophe risk loads among accounts.
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CP 312
Model Development and Governance ▼
  • Cash Flow Models for Long-Term Insurance Business: Understand, develop, apply, and evaluate cash flow models for various types of long-term insurance business. The candidate will demonstrate an understanding of the underlying modeling methodologies: their strengths, limitations, and applications.
  • Non-Cash Flow and Supplementary Models for Financial Business: Understand, apply, and evaluate non-cash flow and supplementary models for various types of long-term insurance business. The candidate will demonstrate an understanding of the underlying methodologies: their strengths, limitations, and applications.
  • Model Governance: Understand and be able to apply appropriate model governance to assess and address issues common to the development and management of models.
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or
GH 101
Benefits and Pricing ▼
  • Plan & Product Provisions: Understand how to describe plan provisions typically offered under short-duration contracts (medical, dental, vision, prescription drug, group life).
  • Manual Rates: Calculate and recommend a manual rate for each of the contracts described in Learning Objective 1.
  • Underwriting & Funding: Apply principles of pricing, risk assessment, and funding to an underwriting situation.
  • Employee Benefits: Evaluate and recommend an employee benefit strategy.
  • View course page to access the syllabus and see the enhancements.