IAM549 - Fundamentals of Insurance
Instructor(s): Consent of IAM
Prerequisites: Consent of Instructor(s)
Course Catalogue DescriptionBasic concepts, Insurance related Institutions, their relations with insurance companies, connection to market and investment tools, the role of laws, regulations, terms and conditions, parties and partners in insurance sector, types of insurance, pricing, product development, managerial and financial operations in an insurance company, investment strategies, financial management in insurance companies, field trip to insurance companies.
Course ObjectivesBasic concepts and terminology in insurance, major players in insurance sector, role of insurance within financial markets, the regulatory framework, insurance regulations, types of insurance, reinsurance, pricing, product development, basic financial analysis, key operations of an insurance company, visit to an insurance company.
Course Learning OutcomesThis course aims to give a general perspective of insurance and insurance related areas without entering the mathematical and statistical models. It enables students to get accustomed to the concepts, terminology and issues in insurance. The composition of insurance sector, working of insurance companies, role of various key players, insurance regulations, types of insurance and financial operations in an insurance company will be presented both in a national and international perspective during the semester.
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