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.


Read More

Eligibility

 


Back to top