6. Conclusion

In this introductory lecture on insurance mathematics, simple theoretical models were presented for assessing insured risks, calculating premiums and verifying the adequacy of the insurance company's solvency level. Various methods were also presented for estimating the probability distribution of cumulative annual claims, either directly or from the probability distributions of the number and cost of claims. The guided tour ended with a brief foray into the field of experience rating, using the example of third-party liability insurance for the driver of a motor vehicle. Despite the rather limited scope of this presentation, the reader will have been able to appreciate the variety of concepts and methods involved.

However, many aspects have been left out. For the sake of simplicity, we have deliberately limited ourselves to one category of models. With the exception...