Program Overview
The course covers essential aspects of insurance policy provisions, including declarations, insuring agreements, exclusions, conditions, and definitions. Participants will also delve into the intricacies of life, health, annuity, property, and casualty insurance, with an emphasis on product design, reinsurance, company operations, and claims management.
Advanced topics include product management, sales and distribution, policy servicing, finance and accounts, and regulatory aspects in life, health, and general insurance. The module addresses securities basics, fiduciary regulations, and the impacts of these regulations on IT and operations.
Practical understanding is enhanced through role plays and case studies, simulating real-world scenarios such as handling customer service requests, selling insurance, and managing claims. This module equips professionals with the comprehensive knowledge and skills needed to excel in their roles and advance their careers in the dynamic insurance industry.
Features
- Detailed Exploration of Insurance Policy Provisions
- Advanced Topics in Insurance Operations
- Practical Learning through Role Plays and Case Studies
Target audiences
- Mid Level Managers in Insurance
Curriculum
- 5 Sections
- 42 Lessons
- 1 Day
- Introduction to Risk & Insurance19
- 1.1Basic concepts of Insurance
- 1.2Insurance Contracts
- 1.3Defining Risk – Pure vs. Speculative Risk
- 1.4Defining Risk – Characteristics of insurable risk
- 1.5Fundamental Principles & concepts
- 1.6Approaches to Risk Management
- 1.7Sharing Risk
- 1.8Transferring Risk
- 1.9Avoiding Risk
- 1.10Reducing Risk
- 1.11Assuming Risk
- 1.12Insurance Policy Participants
- 1.13Insurance Policy Provisions
- 1.14Declarations
- 1.15Insuring Agreements
- 1.16Exclusions
- 1.17Conditions
- 1.18Definitions and Miscellaneous Provisions
- 1.19Ownership of Insurance Company
- Foundation Course to Insurance (Life & P&C)9
- 2.1Principles of Insurance: Life Health and Annuities
- 2.2Insurance Lines of Business
- 2.3Products design overview
- 2.4Long Term Care
- 2.5Dental Insurance
- 2.6Property and Casualty Insurance (General Insurance)
- 2.7Life & Annuity
- 2.8Types of Annuities (Single, Flexible, Fixed, Variable, Deferred, Immediate, Qualified & Non Qualified
- 2.9Reinsurance
- Company Operations-Insurance3
- Insurance Operations and Management Overview5
- 4.1Policy Servicing – Withdrawals, Asset Transfers & Rollovers, Surrenders
- 4.2Endorsements , Customer Correspondences & Communications
- 4.3Securities & Basics, Basics of Suitability & Regulations, Risk & Regulations in Securities
- 4.4Fiduciary Rule-Background, DOL fiduciary rule changes, Exemptions in DOL, Impacts of DOL Fiduciary Role on IT, Operations, Servicing
- 4.5Rollovers, New Business, Recent changes & Way forward
- Case Studies6
- 5.1Customer Touch points, Client Onboarding & Enrollments, Underwriting Requirements and Communication, Benefit Payments & Payout Options
- 5.2Planning & Need analysis Trends, Advisory Trends, Servicing Trends, Customer Retention, Improving Customer Service
- 5.3Operations structure of an Insurance Company
- 5.4Technology Set Up for an Insurance Company
- 5.5Insurance Agent Role Play (Selling Insurance )
- 5.6Claims Experience of an Insurance Customer