CERTIFIED EXPERT IN INSURANCE RISK MANAGEMENT

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NAME OF THE COURSE
CERTIFIED EXPERT IN INSURANCE RISK MANAGEMENT
 
CERTIFICATION
CERTIFIED EXPERT IN INSURANCE RISK MANAGEMENT
 
COURSE OVERVIEW
Insurance Risk Management is the assessment and quantification of the likelihood and financial impact of events that may occur in the customer’s world that require settlement by the insurer, and the ability to spread the risk of these events occurring across other insurance underwriter’s in the market. Risk Management work typically involves the application of mathematical and statistical modeling to determine appropriate premium cover and the value of insurance risk to ‘hold’ vs. ‘distribute’.

This course examines modern techniques for managing financial risks associated with the Insurance industry.

These Financial / Insurance risks are generally classified into market risks, due to movement in financial prices or volatilities, credit risks, due to the fact that counterparties are unwilling or unable to fulfill their contractual obligations, liquidity risks, when transactions cannot be conducted at prevailing market prices, perhaps due to cash flow constraints, and operational risks, which arise from human or technical problems.
 
TRAINING DURATION
Total Training Hours : 22 Hours
Training Duration      : 1 Week
Total Training  Days  : 4-5 Working Days
 
TRAINING SCHEDULE
Weekdays (Sunday to Thursday)
Regular Sessions: 4 – 6 Hrs Per day (9am to 2pm or 3.00pm to 9.00 pm)
Food & refreshments Included
Weekends (Friday & Saturday)
Fast Track Sessions: 8 Hours per day (9am to 5pm)
Food & refreshments Included
 
CERTIFICATION
Globally recognized certificate from “Kings Global Career Academy”
 
TEST
No
 
LEARNING AIDS
Yes
 
COURSE MATERIAL
Hard & Soft Copies of Study Material
 
LANGUAGE OF INSTRUCTION
English
 
INSTRUCTOR HELPLINE
Yes
1. Email
2. Social Media (For Emergency requirements)
 
REGISTRATION REQUIREMENTS
1. Passport Copy
2. Curriculum Vitae
3. Passport-size photographs
4. Course Fee
 
MODE OF PAYMENT
Cash / Cheque / Credit Card / Bank Transfer.
 
ELIGIBILITY CRITERIA
This programme is suited for:
Explain the fundamentals of risk management and insurance concepts.
Examine and explain the legal aspect of insurance as a contract.
Apply the understanding of the legal principles in insurance.
Appraise the different insurance products and evaluate the benefits and limitations of each product class.
Compute insurance amount needs.
Analyze and evaluate client situational context in terms of insurance needs.
Organize and present a recommendation of products.
Explain the theory behind the structure of each insurance product class.
Critique and assess the future development of the insurance industry.
Apply excel spreadsheet skills or the use of a financial calculator to work out insurance planning needs. 
 
COURSE BENEFITS
  • Explain the fundamentals of risk management and insurance concepts.
  • Examine and explain the legal aspect of insurance as a contract.
  • Apply the understanding of the legal principles in insurance.
  • Appraise the different insurance products and evaluate the benefits and limitations of each product class.
  • Compute insurance amount needed.
  • Analyze and evaluate client situational context in terms of insurance needs.
  • Organize and present a recommendation of products.
  • Explain the theory behind the structure of each insurance product class.
  • Critique and assess the future development of the insurance industry.
  • Apply excel spreadsheet skills or the use of a financial calculator to work out insurance planning needs.
COURSE CONTENTS
Module 1:  
  • Methods of classifying risk and risk management methods
  • Concept of insurable risk
  • Identification of life, health, household, motor, and other risk exposures
  • Legal principles of insurance
  • Role of insurance in financial planning
  • Factors affecting insurance needs
  • General insurance policy analysis
  • Life insurance policy analysis
  • Health insurance analysis
 
Module 2:  
  • Risk Strategies & Frameworks for Insurance
  • Assessment, design, and implementation of Insurance Strategies
  • Assessment, design, and implementation of Insurance Risk Frameworks
  • Assessment, design, and implementation of insurance risk-related risk portfolios and assessment methodologies
  • Assessment, design, and implementation of Insurance Risk Appetite Statements
  • Claims Function KPI design
  • Commodity Sector Strategy Input
  • Insurance Product Pricing
  • Underwriting Function KPI design
  • Reinsurance Program Design
 
Module 3:  
  • Assessment, design, and implementation of Insurance Risk Management functions
  • Claims Function – Assessment
  • Underwriting Function Assessment
  • Actuary Services
  • Interim management solutions
  • Concept of Risk Management

Types of Risks in the Insurance industry
  • Pure Risk
  • Speculative Risk
  • Financial Risk
  • Non-Financial Risk
  • Particular Risk
  • Fundamental Risk
  • Static Risk
  • Dynamic Risk
  • Emerging Risks
  • Forecasting risks based on events across the globe

 

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