Fundamentals of the Insurance Business

Part I: Fundamentals of insurance business The origins and role of insurance in society -- The notion of risk and probability -- The insurance undertaking -- Regulation of the insurance industry -- Supervision and other Authorities -- The insurance business -- The insurance contract -- Life Insurance products -- Non-life insurance products. Personal line -- Non-life insurance products. Commercial Line -- Part II: Pricing, reserving and reinsurance Non-life insurance: pricing -- Non-life insurance: reserving -- Life insurance: pricing -- Life insurance: reserving -- Life insurance. How with-profits insurances work -- Life insurance: other components of profit -- Reinsurance and coinsurance -- Part III: Business models and processes in the insurance industry Business models for the insurance undertakings -- Competences and organisational functions -- Product development process -- Underwriting process -- Investment process -- Loss event management process -- Insurance marketing -- Insurance distribution -- Part IV: Performance and key indicators Financial statements of an insurance undertaking -- Introduction to IFRS and consolidated financial statements -- International accounting standards (IAS) and International Financial Reporting Standards (IFRS) -- Solvency of an insurance undertaking -- Solvency II’s Capital Model -- Asset Liability Management (ALM) -- Embedded Value -- Management control in insurance industry -- Performance indicators in the insurance business -- Business Plan for an insurance undertaking. .