Life
Level: Intermediate to Advanced
Life Insurance Pricing & Reserving
การกำหนดเบี้ยประกันภัยและการประเมินเงินสำรองประกันชีวิต
Master the principles of cash flow modelling, net and gross premium determination, and regulatory reserve frameworks for life insurance products.
Actuarial Present Value of Whole Life Insurance
Course Registration & Inquiry
Available as individual mentorship, group cohort, or in-house corporate training tailored to your team's dataset.
Lecturer Yodharin Monplub
Format Online / On-site / Hybrid
Prerequisites Basic Statistics / Excel
Comprehensive Course Syllabus & Learning Modules
1
1. Overview of Life Insurance and Actuarial Principles
- Types of life insurance products and benefit structures
- Relationships between premiums, reserves, profit, and capital
- Time value of money and cash flow valuation
2
2. Assumptions for Pricing and Reserving
- Mortality and morbidity rates (TM2017, industry standard tables)
- Lapse and surrender rates by duration and product type
- Expenses, distribution commissions, and inflation loading
- Interest rates, discount curves, and investment returns
- Experience study methodology and setting credible assumptions
3
3. Life Insurance Pricing
- Principles of net and gross premium calculation
- Building dynamic cash flow projection models in Excel/Python
- Setting risk margins and shareholder profit targets
- Underwriting impact and reinsurance structures (Quota Share, Surplus, Excess of Loss)
- Pricing considerations for Term, Whole Life, Endowment, and Unit-Linked
4
4. Profitability Analysis
- Profit testing mechanics and cash flow emergence
- Profitability metrics: Profit Margin (PM), Internal Rate of Return (IRR), and Break-even Duration
- Sensitivity analysis against interest rate fluctuations and adverse mortality
- Scenario testing and stress testing under regulatory capital frameworks
5
5. Life Insurance Reserving Principles
- Purposes and types of statutory vs management reserves
- Prospective vs retrospective reserve calculations
- Net Premium Valuation (NPV) vs Gross Premium Valuation (GPV)
- Reserve patterns and strain over the policy life cycle
6
6. Overview of Insurance Liability Valuation Frameworks
- Risk-Based Capital (RBC) balance sheet requirements
- Introduction to IFRS 17 / TFRS 17 General Measurement Model (GMM)
- Contractual Service Margin (CSM) and Risk Adjustment (RA) dynamics
7
7. Workshops and Case Studies
- Hands-on pricing model creation for an endowment policy
- Statutory reserve modeling and GPV stress test analysis
- Reviewing product filing documentation and OIC regulatory compliance