The course will cover modern approaches to actuarial practice in general insurance. It is designed to equip students with more practical knowledge on the general insurance industry and complement the study of advanced actuarial courses. The course will cover general insurance products and markets as well as methods for general insurance pricing, valuation of liabilities and capital/solvency requirements. The course is also aimed at ensuring students are job ready for careers in general insurance and has a significant focus on practical examples and real world case studies that are relevant to the industry.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Describe the general insurance market, products and operations.
2. Apply general insurance pricing techniques.
3. Apply general insurance valuation techniques for the estimation of liabilities.
4. Describe capital and solvency requirements and modelling techniques used to meet these requirements.
5. Analyse actuarial problems facing the general insurance industry and identify possible solutions to these problems.

Research-Led Teaching

The course will cover modern approaches to actuarial practice in general insurance. It will cover some parts of the Actuaries Institute Part III syllabus for General Insurance. It will be informed by practical examples and case studies of relevance to professional and research issues currently faced by the profession. The topics covered in this course are:

1. General insurance market, products and operations
2. General insurance valuation techniques and estimation of liabilities
3. General insurance premium rating and pricing
4. Capital and Reinsurance
5. Solvency
6. Managing the business

Examination Material or equipment

Students will be required to supply their own calculator for use during the exam. Further information on examination material will be provided to students in lecture time and on Wattle. The final assessment will be held in the exam period with details to be advised no later than teaching week 10 of the semester.

Recommended Resources

Students will be required to supply a calculator. A basic understanding of the use of Microsoft Excel is assumed. The use of Microsoft Excel may be required for the completion of the assignment and exercises in this course. Microsoft Excel may be used on campus or on the students’ personal computers or laptops. Students may find it beneficial to bring a laptop to the lecture time to follow the Microsoft Excel examples, although this is not a requirement.

Comprehensive lecture notes and lecture slides will be made available on Wattle. There are no prescribed texts besides the lecture notes. However, selected parts of the text ‘Actuarial Practice of General Insurance’ (Hart, Buchanan and Howe, 2007) will be made available on Wattle. In addition, several other required readings will be placed on Wattle for some weeks of the course and these will make up a major component of the material you are expected to be familiar with and be assessed on.

ANU outlines recommended student system requirements to ensure you are able to participate fully in your learning. Other information is also available about the various Learning Platforms you may use.

Staff Feedback

Students will be given feedback in the following forms in this course:

• There will be self-study feedback in tutorials.
• There will be immediate feedback following the online quiz.
• Following the assignment, feedback will be given to the whole class about the general performance on the assignment.
• In addition, students will also have the opportunity to speak with the tutor or lecturer and seek comments about their individual performance in the assignment.

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	General insurance market, products and operations
2	General insurance market, products and operations
3	General insurance valuation techniques and estimation of liabilities
4	General insurance valuation techniques and estimation of liabilities
5	Valuation case studies
6	General insurance premium rating and pricing	Online quiz
7	General insurance premium rating and pricing
8	Pricing case studies
9	Capital and Reinsurance
10	Solvency	Assignment due
11	Solvency
12	Managing the Business / Review

Tutorial Registration

ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Online quiz	0 %	28/03/2025	28/03/2025	1,3
Assignment (optional and redeemable)	20 %	05/05/2025	23/05/2025	1,2,3
Final examination	80 %	29/05/2025	26/06/2025	1,2,3,4,5

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines , which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Extenuating Circumstances Application
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Skills website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Course content delivery will take the form of weekly on-campus lectures (recorded and available via echo360 on Wattle) and on-campus workshops, all delivered on campus. Consultations will be via Zoom.

Examination(s)

The final examination will be a two hour on-campus invigilated exam. Centrally scheduled examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information.

Assessment Task 1

Online quiz

An online quiz will be available for students to complete from Week 4 to Week 6. Students may attempt the quiz as many times as they wish and they will be given feedback immediately. This is for their own learning on the first two topics of the course and is not assessable.

Value: 0%

Due date: 28th March 2025

Assessment Task 2

Assignment (optional and redeemable)

This assignment will be completed individually. The assignment will cover the first three topics of the course and more details will be provided to students prior to Week 6. The assignment will require both calculations and written answers. It is to be submitted through Turnitin. Feedback will be given to the the whole class by Week 12. In addition, students will also have the opportunity to speak with the tutor or lecturer and seek comments about their individual performance in the assignment.

Value: 20% (optional and redeemable)

Due date: 5th May 2025

Assessment Task 3

Final examination

The final examination will be an on-campus invigilated exam during the university examination period at the end of the semester. The exam will be open book. Students are allowed to bring a non-programmable calculator. No dictionary allowed. The exam will include a mixture of theoretical and numerical questions. It will be a 2-hour exam which covers the entire semester's contents. Examination materials and conditions will be notified to all students via Wattle no later than Week 10 of the semester. The exam will be centrally timetabled and details of the final examination timetable will be made available on the ANU Timetabling website.

Value: 80% or 100%

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

There are no hardcopy submission for this course.

Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material. Any use of artificial intelligence must be properly referenced. Failure to properly cite use of Generative AI will be considered a breach of academic integrity.

Returning Assignments

Assignments will be returned via Turnitin

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

Students will not be permitted to resubmit assignments.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Accessibility for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students