SIMULATING LIFETIMES WITH ACTUARIAL SURVIVAL MODELS

Survival models play a key role in Actuarial Science, especially in the life contingencies field. The complexities of some of these models, when applied to human lifetimes, make them a particularly difficult topic for students to learn, as well as for educators to teach. Using the new capabilities of modern web browsers and JavaScript frameworks, a graphical interactive simulator has been developed which eases the study and analysis of actuarial survival models. This interactive graphical tool is integrated into a series of guided activities that allow students to experiment with confidence within a contextualized environment, fully adapted to the professional competences demanded by the actuarial profession. The results of a dedicated survey reveal that students who used this simulator considered that it significantly facilitated their comprehension of the most complex features of actuarial survival models. Amongst the characteristics of the simulator investigated in the survey, regarding their effects on understanding and learning, the best valued ones by the students were the possibility of experimenting and the interactivity. Furthermore, another relevant finding was the students' perception of a less boring learning experience when using the simulator.