CERTIFICATE IN PRINCIPLES AND PRACTICES OF LIFE AND GENERAL INSURANCE
Duration: 3 MONTHS
Course Syllabus
COURSE TITLE: Principles and Practices of Life and General Insurance
COURSE DURATION : 3 MONTHS
COURSE OBJECTIVES:
To provide a comprehensive understanding of the principles of insurance, risk management, and the business of insurance
To equip learners with the knowledge and skills necessary to effectively practice life and general insurance
To develop critical thinking, problem-solving, and decision-making skills relevant to the insurance industry
To enhance learners' career prospects and promote self-employment opportunities in the insurance sector
COURSE OVERVIEW:
This course will cover the basic principles and practices of life and general insurance. The course will begin with an overview of the insurance industry, including its history, evolution, and the concept of insurance. The course will then focus on the practice of life insurance, including premiums, bonuses, plans, annuities, and policies, as well as group and linked insurance. The course will also cover the practice of general insurance, including policies, claims, underwriting, ratings, and premiums, and reserves and accounting.
TEACHING METHODOLOGY:
The course will be delivered through a combination of lectures, discussions, case studies, and practical exercises. Learners will be encouraged to actively participate in the learning process, share their experiences, and engage in critical thinking and problem-solving.
COURSE CONTENT:
Week 1-2: Principles of Insurance
Risk Management
The Concept of Insurance and its Evolution
The Business of Insurance
The Insurance Market
Insurance Customers
The Insurance Contract
Insurance Terminology
Life Insurance Products
General Insurance Products
History of Insurance and Insurance in India
Week 3-4: Practice of Life Insurance
Premiums and Bonuses
Plans of Life Insurance
Annuities
Group Insurance
Linked Life Insurance
Policies Applications and Acceptance
Policy Documents
Premium payment, policy lapse and revival
Assignment, Nomination and Surrender of policy
Policy claims
Week 5-6: Practice of General Insurance
Introduction to General Insurance
Policy Documents and forms
Fire & Marine Insurance
Motor Liability, Personal Liability Insurance
Engineering & other Insurances
Underwriting
Ratings & Premium
Claims
Insurance Reserves & Accounting
Week 7-8: Insurance Industry Trends and Developments
Emerging Trends in the Insurance Industry
Recent Developments in Insurance Products
Regulatory Environment for Insurance Industry
Insurance Distribution Channels
Insurtech and Digital Transformation in Insurance
Week 9-10: Insurance Ethics and Compliance
Ethics and Conduct in the Insurance Industry
Insurance Fraud and Misconduct
Consumer Protection and Complaints Handling
Compliance and Regulatory Requirements
Week 11-12: Insurance Business and Career Development
Insurance Business Models
Marketing and Sales in Insurance
Insurance Career Paths and Opportunities
Entrepreneurship in the Insurance Industry
Skills for Success in Insurance Industry
Note: The syllabus can be modified based on the requirements of the learners or location.
COURSE TITLE: Principles and Practices of Life and General Insurance
COURSE DURATION : 3 MONTHS
COURSE OBJECTIVES:
To provide a comprehensive understanding of the principles of insurance, risk management, and the business of insurance
To equip learners with the knowledge and skills necessary to effectively practice life and general insurance
To develop critical thinking, problem-solving, and decision-making skills relevant to the insurance industry
To enhance learners' career prospects and promote self-employment opportunities in the insurance sector
COURSE OVERVIEW:
This course will cover the basic principles and practices of life and general insurance. The course will begin with an overview of the insurance industry, including its history, evolution, and the concept of insurance. The course will then focus on the practice of life insurance, including premiums, bonuses, plans, annuities, and policies, as well as group and linked insurance. The course will also cover the practice of general insurance, including policies, claims, underwriting, ratings, and premiums, and reserves and accounting.
TEACHING METHODOLOGY:
The course will be delivered through a combination of lectures, discussions, case studies, and practical exercises. Learners will be encouraged to actively participate in the learning process, share their experiences, and engage in critical thinking and problem-solving.
COURSE CONTENT:
Week 1-2: Principles of Insurance
Risk Management
The Concept of Insurance and its Evolution
The Business of Insurance
The Insurance Market
Insurance Customers
The Insurance Contract
Insurance Terminology
Life Insurance Products
General Insurance Products
History of Insurance and Insurance in India
Week 3-4: Practice of Life Insurance
Premiums and Bonuses
Plans of Life Insurance
Annuities
Group Insurance
Linked Life Insurance
Policies Applications and Acceptance
Policy Documents
Premium payment, policy lapse and revival
Assignment, Nomination and Surrender of policy
Policy claims
Week 5-6: Practice of General Insurance
Introduction to General Insurance
Policy Documents and forms
Fire & Marine Insurance
Motor Liability, Personal Liability Insurance
Engineering & other Insurances
Underwriting
Ratings & Premium
Claims
Insurance Reserves & Accounting
Week 7-8: Insurance Industry Trends and Developments
Emerging Trends in the Insurance Industry
Recent Developments in Insurance Products
Regulatory Environment for Insurance Industry
Insurance Distribution Channels
Insurtech and Digital Transformation in Insurance
Week 9-10: Insurance Ethics and Compliance
Ethics and Conduct in the Insurance Industry
Insurance Fraud and Misconduct
Consumer Protection and Complaints Handling
Compliance and Regulatory Requirements
Week 11-12: Insurance Business and Career Development
Insurance Business Models
Marketing and Sales in Insurance
Insurance Career Paths and Opportunities
Entrepreneurship in the Insurance Industry
Skills for Success in Insurance Industry
Note: The syllabus can be modified based on the requirements of the learners or location.