Advanced training programme at statistics on insurance

Statistical agencies work on producing large quantities of data, information and indicators to make their statistical output available to the public at different levels. It’s worth mention that the purpose of the statistical system is to provide timely and high-quality data and information to support decision maker and policymaker for the purpose of planning, monitoring progress, evaluating performance and informing the public, researchers and all users about the performance of society, economy and government. 

Insurance is the business of risk. It exchanges a fixed compensation (premium) against uncertain costs (benefits), in terms of timing and amounts. Insurance professionals must master probability 

Though insurance actuaries play an important role in the insurance industry, few people understand what they do. An insurance actuary determines the statistical odds of an event occurring. In the insurance industry, knowing the odds of an event happening is important to properly price policies as well as to determine the proper allocation of assets. This course presents this advanced training programme at statistics on insurance to develop the skills of insurance statisticians, analyze statistical data and write reports, which helps in making decisions and drawing up administrative and financial plans based on accurate and important information to improve the performance of organizations. 

By the end of the course, participants will be able to:

• Managers of the Central Administration 
• Employees in information management centers 
• Statistical analysts 
• Employees at business risk management  

• Demonstrate probabilistic and statistical skills in solving financial problems; 
• Demonstrate enhanced conceptual skills and logical reasoning ability; 
• Demonstrate a broad understanding of the range of application of statistics to financial processes. 
• Explain basic concepts and models in decision analysis and statistics, as presented in the module, and apply them in insurance; 
• Construct risk models appropriate to short term insurance contracts and make the related statistical inference; 
• Describe and apply the fundamental concepts of credibility theory; 
• Describe and apply the basic methodology used in rating general insurance business;