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Insurance Risk assessment w/Monte Carlo method using Spark

IntermediateGuided Project

Learn about the Monte Carlo method and calculate the ruin probability of an insurance company using Apache Spark.

4.4 (96 Reviews)

Language

  • English

Topic

  • Data Analysis

Industries

  • Insurance

Enrollment Count

  • 885

Skills You Will Learn

  • Monte Carlo Method, Apache Spark, Insurance, Machine Learning, Statistical Programming

Offered By

  • IBM

Platform

  • SkillsNetwork

Last Update

  • May 12, 2025
About this Guided Project
In this hands-on project, you will learn about the Monte Carlo method and calculate the ruin probability of an insurance company using Apache Spark by means of the parallel Monte Carlo method.


 Learning Objectives

1.  After completing this lab you will be able to:
  • Understand and apply Monte Carlo method.
  • Get a basic idea about the accuracy of the method
  • Calculate the "Pi" number by means of the method
  • Parallelize the method using Apache Spark
2.  Understand the Ruin probability of an insurance company
3.  Calculate the Ruin probability using Monte Carlo method.

Instructors

Bogdan Norkin

Dr.Sc. in applied mathematics.

Research Fellow, V.M. Glushkov Institute of Cybernetics of NAS of Ukraine.

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