We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Rechnen mit (der) Zukunft.
- Authors
Korn, Ralf; Schmidt, Jan-Philipp; Zähle, Henryk
- Abstract
Insurance and financial mathematics have gained importance in the last 30 years. The German Society for Insurance and Financial Mathematics (DGVFM) combines science and practice in this field and will celebrate its 75th anniversary in 2023. Actuaries have had expanded tasks since Carl Friedrich Gauss, including forecasting uncertain future developments. The deregulation of the European insurance market in the 1990s has provided more leeway for the application of insurance and financial mathematics in practice. The German Actuarial Association (DAV) was founded in 1993 as a professional association for actuaries in Germany and is the professional sister organization of the DGVFM. The article deals with the various application areas of actuarial science and the training to become an actuary in Germany. Various methods and models used by actuaries are mentioned, such as replicating portfolios, the least-squares Monte Carlo method, and the modeling of cyber risks. It is emphasized that actuaries need both mathematical and business-legal knowledge. The training to become an actuary usually follows a mathematics degree and includes examinations in insurance and financial mathematics as well as specific topics of the insurance business. The training can only be completed after three years of relevant professional experience.
- Publication
Mitteilungen der DMV, 2023, Vol 31, Issue 1, p35
- ISSN
0947-4471
- Publication type
Article
- DOI
10.1515/dmvm-2023-0012