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| Introduction to insurance
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| Non-life insurance |
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| Life insurance |
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| Pensions |
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| Broker |
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Introduction to insurance
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Overview
of Insurance
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Fundamentals
of insurance
Key insurance terminology
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| Overview
of Insurance workflow |
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Direct
business
Reinsurance business
Insurance market |
| Business
Processes |
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Prospecting
Risk and client assessment
Typical client documentation
Premium rating, discounts and charges
Commission and brokerage
Taxes and stamp duties |
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Non-life insurance
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Quotation,
New Business & Underwriting
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Quotation
New business
Underwriting
Rating |
| Quotation,
New Business & Underwriting |
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Multi-section
(package policies)
Multi-location
Coinsurance
Open cover
Master policy
Cover note |
| Products
& LOBs |
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Personal
lines of business
Commercial lines of business |
| Accounts |
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Receipts,
bank guarantees, matches and mismatches
Payments for claims
Commission payments
Settlements with insurers |
| Reinsurance
for Direct Insurers |
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Need
for reinsurance
Acceptances and cessions
Common types of RI arrangements
Typical documentation |
| Endorsements
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Alterations
Pro rata and short term endorsements
Cancellations |
| Claims |
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Stages
of claims: notification, registration, surveys, estimation,
payments
Surveyor management: allocation and scheduling, expectations,
standards
Salvage and subrogation
Typical client documentation |
| Reinsurance
for RI companies |
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Reinsurance
market
Reinsurance process
Specialised reinsurer service
Alternative risk transfer |
| Reserving |
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Need
for reserves
Principles of reserving
Types of reserves
Methods of reserving claims
Methods of reserving premiums
Accounts & General Ledger
Typical insurance profit and loss
Typical insurance balance sheet
Comparative analysis of balance sheet |
| Role
play and learning-Non life |
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Life insurance
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Typical Life
Insurance Company workflow
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Quotation
New business
Underwriting
Rating
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| Products
& Riders |
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Traditional
insurance
Riders
Investment linked insurance
Annuities |
| Policy
Servicing/Claims |
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Premium
Notices/ Reminders
Policy loans
Surrender for Cash / cash value
NFO
Reinstatements / Revivals
Bonus/dividend runs / Anniversary processes
Alterations in policies
Convertibility
Reduce paid up
Nominations
Assignments
Cancellation of policies
Maturity
Death claims |
| Agency
Administration & Compensation |
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Maintenance
of agent data
Recruitment / Promotion / Confirmation / Termination
Agency hierarchies
Setting of targets and review thereof
Agents unit transfer in relation to hierarchy
Commission payments to agents
Special commissions handling
Overriding commission, other compensation |
| MIS,
Reporting |
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Reporting
requirements
Insurance and non-insurance reports
Solvency margin |
| Case
study on life insurance |
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Pensions
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Pension Products
- individual
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Individual
pension products (Annuities)
Gratuity
Superannuation / Pensions
IT systems for pension |
| Pension
Business - groups |
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Group
pension and benefits
Defined benefits
Defined contribution
401 K products
Hybrid products
Public pension |
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Broker
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Insurance brokerage
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Retail
and corporate brokers
Workflow
Services provided by brokers |
| Reinsurance
brokerage |
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Reinsurance
brokers
Reinsurance processes
Reinsurance market |
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