- Title: Professor
- Position: Acting Head of Department - Department of Applied Finance and Actuarial Studies
- Qualifications: BEc, BSc Macq., PhD ANU, FIAA
Areas of Expertise
- Income protection insurance
- Model selection with actuarial applications
- Linear modelling with actuarial applications
David Pitt completed his Bachelor of Economics (Actuarial Studies) and Bachelor of Science (Statistics) degrees at Macquarie University in 1997 with a scholarship from the AMP. After graduation, David worked with the AMP as an actuarial analyst for two years, specialising in the pricing and valuation of both personal and commercial lines of general insurance business. In addition to working at AMP, David also completed the requirements for Fellowship of the Institute of Actuaries of Australia. David then returned to academia.
He was one of two foundation lecturers in the ANU Actuarial Studies program from 2000 until 2004. During this time, he completed his PhD in Actuarial Studies, specialising in the use of modern statistical methods in the analysis of disability income insurance portfolios. From January 2005 until June 2010, David worked in the Centre for Actuarial Studies at the University of Melbourne. He joined the Department of Actuarial Studies at Macquarie University as Associate Professor in July 2010 and was appointed Professor in December 2015. David is a very dedicated teacher and has been won numerous teaching awards during his career including the Vice Chancellor's Award for Teaching Excellence from the ANU in 2003, a national citation for outstanding contributions to student learning from the Australian Learning and Teaching Council in 2009 and a Dean's Excellence Award in 2012.
David has also served as marker and chief examiner in the Part III education program of the Institute of Actuaries of Australia and as a member of the Education Committee of the International Actuarial Association. David's research is in the area of actuarial statistics and he has published in leading academic actuarial journals including the Astin Bulletin: the journal of the International Actuarial Association and the Annals of Actuarial Science. He was awarded the H.M. Jackson prize for best paper by an Australian actuary published in an international journal in 2007.
- Fellowship of the Institute of Actuaries of Australia with Institute of Actuaries of Australia
- Doctor of Philosophy: Actuarial Studies (Australian National University)
- Bachelor of Economics: Actuarial Studies (Macquarie University)
- Bachelor of Science: Statistics (Macquarie University)
- ARC Discovery Grant, Risk management of reverse mortgages in Australia, $220,000
- Income protection insurance modelling, reverse mortgages modelling, statistical model selection.
- Liu, F. & Pitt, D. (2017). Application of bivariate negative binomial regression model in analysing insurance count data. Annals of Actuarial Science, 11(2), 390-411.
- Pitt, D, Guillen, M & Bolance, C (2016) Estimation of Parametric and Non-Parametric Models for Univariate Loss Distributions - an approach using R. Journal of Financial Education (forthcoming)
- Pitt, D (2015) On the scaling of NSW HSC marks in mathematics and encouraging higher participation in calculus-based courses. Australian Journal of Education, 59 (1), 65-81.
- Butt A, Evans J, Farmer J & Pitt D (2014) A Pilot Survey of Actuarial Graduates' Views on their Education Australian Journal of Actuarial Practice; 1: 63-75
- Hariyanto, EA, Dickson, DCM & Pitt, DGW (2014). Estimation of Disability Transition Probabilities in Australia I: Preliminary. Annals of Actuarial Science, 8, pp 131-155
- Hariyanto, EA, Dickson, DCM & Pitt, DGW (2014). Estimation of Disability Transition Probabilities in Australia II: Implementation. Annals of Actuarial Science, 8, pp 156-175
- Liu, Q., Pitt, D., Wang, Y. & Wu, X. (2013). Survival Analysis of Left Truncated Income Protection Insurance Data, Asia-Pacific Journal of Risk and Insurance, 7(1).
- Liu, Q., Pitt, D. & Wu, X. (2014). On the prediction of claim duration for income protection insurance policyholders, Annals of Actuarial Science, in press.
- Liu, Q., Pitt, D., Zhang, X. & Wu, X. (2011). A Bayesian approach to parameter estimation for kernel density estimation via transformations, Annals of Actuarial Science, 5(2), 181-193.
- Siaw, K., Wu, X., Pitt, D. & Wang, Y. (2011). Matrix-form Recursive Evaluation of the Aggregate Claims Distribution Revisited, Annals of Actuarial Science, 5(2), 163-179.
- Pitt, D, & Joshi, M. (2010). Fast sensitivity computations for Monte Carlo valuation of pension funds, Astin Bulletin, 40(2), 655-667.
- Pitt, D, Qian, G. & Cui, J. (2010). Model selection and claim frequency for workers' compensation insurance, Astin Bulletin, 40(2) 779-796.
- Fitzherbert, R and Pitt, D. (2010). Investment Return Calculations and Senior School Mathematics. Australian Senior Mathematics Journal, 24(1), 7-17.
- Yip, P, Pitt, D, Wu, X, Wang, Y, Watson, R, Huggins, R and Xu,Y. (2010). On the Impact of Suicide Exclusion periods on Australian Life Insurance. Journal of Crisis Intervention and Suicide Prevention, Vol. 31, Issue 4, (2010), p.217-223.
- Tanthanongsakkun, S, Pitt, D and Treepongkaruna, S. (2009). A Comparison of Corporate Bankruptcy Models in Australia: the Merton vs Accounting Based Models. Asia-Pacific Journal of Risk and Insurance, 3(2), 93-112.
- Pitt, D. (2007). Modeling the Claim Duration of Income Protection Insurance Policyholders Using Parametric Mixture Models. Annals of Actuarial Science, 2(1),1-24.
- Pitt, D. (2006). Regression Quantile Analysis of Claim Termination Rates for Income Protection Insurance Annals of Actuarial Science, 1(2), 345-357.
- Puza, B, Pitt, D and O'Neill, T. (2005).The Monty Hall three doors problem, Teaching Statistics: an International Journal for Teachers, 27(1), 11-15.
- Heaney, R and Pitt, D. (2003).Impact of Genetic Testing on Life Insurance, Agenda, 10(1) 61-72.
- Service, D and Pitt, D. (2002). Disability Claims: does anyone recover?, Australian Actuarial Journal, 8(4) 615-659.
- Hull, J., Treepongkaruna, S., Heaney, R., Pitt, D. and Colwell, D. (2013) Fundamentals of Futures and Options Markets, Pearson Australia
- Fitzherbert, R and Pitt, D (2012) Compound interest and its applications, Custom Book Centre, University of Melbourne
- Pitt, D. (2012). Distance learning and professional education, London International Conference on Education
- Pitt, D. (2011) Matrix-form Recursive Evaluation of the Aggregate Claims Distribution, University of Barcelona
- Pitt, D. (2010) Model selection for mixed models using the Gibbs sampler, Contributed paper, 14th International Congress on Insurance: Mathematics and Economics, University of Toronto
- Pitt, D. (2009) Modeling the Claim Duration of Income Protection Insurance Policyholders Using Parametric Mixture Models. Poster at Institute of Actuaries of Australia's Biennial Convention, Sydney.
- Pitt, D. (2009) Model selection and claim frequency for workers' compensation insurance, Monash University Econometrics and Business Statistics Seminar Series
- Pitt, D. (2009) Model selection and claim frequency for workers' compensation insurance, City University London and the University of Barcelona
- Pitt, D. (2006) Modelling Income Protection Insurance using Flowgraphs. Contributed paper, Asia-Pacific Risk and Insurance Conference
- Pitt, D. (2005) Mixture Models and Income Protection Insurance. Contributed paper, Insurance, Mathematics and Economics Seminar
- Pitt, D. (2005) Mixture Models and Income Protection Insurance, The University of Melbourne Applied Statistics Seminar Series
- Pitt, D. (2004) Modelling the Experience of Disability Income Insurance Policyholders. Macquarie University Actuarial Seminar Series
- Pitt, D. (2004) Income Protection Insurance Modelling. ANU Disability Risk Models Seminar
- Pitt, D. (2003) A New Mathematical Model for Disability Income Insurance in Australia. Presented at the Institute of Actuaries of Australia Biennial Convention
- Pitt, D. (2003) Insurance Industry Opportunities in the E-World. Institute of Actuaries of Australia Biennial Convention
- Pitt, D. (2003) Specialist Actuarial Education in Australia: A New Approach. UK Actuarial Teaching and Research Conference, University of Kent.
- Pitt, D. (2003) Experience Analysis for Disability Income Insurance. Melbourne University Actuarial Seminar Series
- Pitt, D. (2002) Disability Claims Â does anyone recover? Institute of Actuaries of Australia Horizon Series in both Sydney and Melbourne
- Principal Supervisor of Evan Hariyanto - PhD-Actuarial Studies Research - Full Time - Graduation 2014
- Principal Supervisor of Qing Liu - PhD-Actuarial Studies Research - Full Time - Graduation 2013
- Principal Supervisor of Ashley Evans - PhD-Actuarial Studies Research - Full Time - Graduation 2008
- ACST356/861 - Mathematical Theory of Risk
- ACST357/862 - General Insurance Pricing and Reserving
- ACST359/819 - Actuarial Modelling
- Income protection insurance and related modelling
- Model selection with actuarial applications
- Linear modelling with actuarial applications
- Institute of Actuaries of Australia Australian Actuarial Journal Editorial Committee
- Occasional reviewer for Agenda, Annals of Actuarial Science, Australian Actuarial Journal, Asia Pacific Journal of Risk and Insurance, Astin Bulletin, Insurance: Mathematics and Economics, North American Actuarial Journal.
- Actuarial Analyst at AMP Ltd
- Lecturer at ANU
- Senior Lecturer at The University of Melbourne