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Introduction to Insurance

Description

This training course has been designed to explain to the participants the different aspects that make up the insurance industry

Objective

To provide participants with an understanding of the function of insurance, starting with evolution of insurance throughout the ages to date, the importance of insurance in the economy, the key players in the marketplace, and the different types of professionals in insurance along with their main duties.

Target Audience

Newcomers to the insurance industry in underwriting, claims, sales & marketing, as well as employees in non-insurance functions within the company (e.g. accounting, HR, IT…..)

Learning Outcomes

At the end of this training course the participants will be able to:
•  Clearly define Risk & Insurance
•  Understand the evolution of insurance throughout history, and get a glimpse of the future
•  Learn about the role of insurance in the economy
•  Understand the structure of the market
•  Identify the key players in the marketplace (the buyers, sellers and intermediaries)
•  Understand the role of regulators and other international bodies such as: ICC, SIC, FATF, IAIS
•  Understand key functions within the insurance industry: Rating & ratemaking, underwriting, pre-risk surveys, claims, loss adjusting, reinsurance, risk management, production
•  Understand the importance of customer service in insurance

Duration

6 hours (1 day or 2 half-days)