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The 6th Edition of Models for Quantifying Risk provides a comprehensive introduction to stochastic models used in the analysis and management of risk. Designed for use in a two- or three-semester university course, it offers a balance of theory, application, and practice across topics including life contingencies, multi-state models, profit testing, participating insurance, and universal life.
This edition includes:
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Expanded written-answer examples to strengthen applied learning skills.
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Updated notation and terminology consistent with current actuarial practice.
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Extended coverage of multi-state models across most chapters.
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Focused content for the North American market, with relevant terminology and examples.
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Broader treatment of profit testing, participating insurance, and universal life.
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Additional applications of Thiele’s Equation for deeper analytical understanding.
About the Authors
Ian Duncan, FSA FIA FCIA FCA CSPA MAAA
Ian Duncan is an Adjunct Associate Professor of Actuarial Statistics in the Dept. of Statistics & Applied Probability at the University of California, Santa Barbara and President of Santa Barbara Actuaries Inc. He has over 30 years of experience in healthcare and insurance product design, management, financing, pricing and delivery, and has founded two previous companies to perform predictive modeling and outcomes analysis for healthcare. He is a frequent speaker about health outcomes, predictive modeling and risk adjustment.
Mr. Duncan holds a post-graduate degree in economics from Balliol College, Oxford and is a Fellow of the Society of Actuaries, the Institute of Actuaries (London), the Canadian Institute of Actuaries and the Conference of Consulting Actuaries.
