Stochastic Modeling - Theory and Reality from an Actuarial Perspective

In cooperation with the International Actuarial Association (IAA), the EAA – European Actuarial Academy GmbH will offer a seminar on 20-22 November 2013 in Dublin, Ireland, based on the book “Stochastic Modeling – Theory and Reality from an Actuarial Perspective” (© 2010 International Actuarial Association) which intends to provide actuaries with a comprehensive resource that details current stochastic methods, provides background on the stochastic technique as well as their advantages and disadvantages. The key speakers are primary authors who contributed to Life and Non-Life sections of the book, and the seminar will cover a wide range of topics presented in this book.

As recently as the mid-1990s, most models used in financial analysis of insurance were deterministic. Based on sets of static parameters and assumptions, these models largely ignored random fluctuations that were likely to occur. Sensitivity analyses were performed but were generally limited to a fixed number of defined scenarios. This deterministic approach is rapidly being replaced by stochastic modeling that can better inform insurers on pricing, financial planning, and capital assessment strategies. Huge advancements in computing power have made it possible for actuaries and financial planners to better understand the increasingly complex risk profiles of insurers’ evolving product design.


The early-bird registration fee is € 870.00 plus 23 % VAT until 20 September 2013. After this date the fee will be € 970.00 plus 23 % VAT.

Please find additional information and a registration form on the EAA website http://www.actuarial-academy.com/index.php?page=seminars&sub=1&past=&se….