Certified Insurance Risk Management Professional

This course examines modern techniques for managing financial risks.

Financial risks are generally classified into market risks, due to movement in financial prices or volatilities, credit risks, due to fact that counterparties are unwilling or unable to fulfill their contractual obligations, liquidity risks, when transactions cannot be conducted at prevailing market prices, perhaps due to cash flow constraints, and operational risks, which arise from human or technical problems.

Who Should Attend:

This course is aimed at officers (Top Level, Middle Level & Other levels) in the field of finance / risk management who needs to understand the principles of risks. The Goal to implement the Risk System in the organization.

Benefits:

• Explain the fundamentals of risk management and insurance concepts.
• Examine and explain the legal aspect of insurance as a contract.
• Apply the understanding of the legal principles in insurance.
• Appraise the different insurance products and evaluate the benefits and limitations of each product class.
• Compute insurance amount needs.
• Analyse and evaluate client situational context in terms of insurance needs.
• Organise and present a recommendation of products.
• Explain the theory behind the structure of each insurance product class.
• Critique and assess the future development of the insurance industry.
• Apply excel spreadsheet skills or the use of a financial calculator to work out insurance planning needs.
• Demonstrate proficiency in research and writing coupled with the interpersonal skills to work effectively in a team.
• Formulate and implement insurance planning in a systematic and coherent manner.
• Evaluate and appraise the insurance product suites and make apt recommendations.

Contents:

• Methods of classifying risk and risk management methods
• Concept of insurable risk
• Identification of life, health, household, motor and other risk exposures
• Legal principles of insurance
• Role of insurance in financial planning
• Factors affecting insurance needs
• General insurance policy analysis
• Life insurance policy analysis
• Health insurance analysis