This comprehensive course provides a thorough introduction to the insurance industry, covering fundamental concepts, product types, underwriting principles, and claims management processes. Participants will explore the role of insurance in risk transfer, the regulatory environment, and the business models of insurance companies. The curriculum examines life insurance, health insurance, property and casualty insurance, and the emerging trends shaping the industry. Through practical case studies and real-world scenarios, learners will develop a solid understanding of insurance operations and the skills needed to pursue careers in this essential financial services sector.
Insurance Fundamentals: Products, Underwriting, and Claims Management
Banking, Insurance and Financial Services
October 25, 2025
Introduction
Objectives
Upon completion of this course, participants will be able to:
- Understand different types of insurance products
- Apply underwriting principles and risk assessment
- Manage claims processing and settlement
- Navigate insurance regulations and compliance
- Analyze insurance company financial statements
- Develop basic risk assessment frameworks
- Understand reinsurance concepts and applications
- Evaluate insurance product features and benefits
- Identify emerging trends in insurance
Target Audience
- Insurance Industry New Hires
- Insurance Agents and Brokers
- Risk Management Professionals
- Financial Advisors
- Career Changers Entering Insurance
- Insurance Support Staff
- Banking Professionals
Methodology
- Insurance product analysis exercises
- Underwriting case studies
- Claims processing simulations
- Regulatory compliance scenarios
- Industry expert presentations
- Customer service role-playing
Personal Impact
- Enhanced insurance industry knowledge
- Improved risk assessment skills
- Stronger customer service abilities
- Better understanding of regulations
- Enhanced career opportunities
Organizational Impact
- Better prepared insurance staff
- Improved underwriting quality
- Enhanced claims efficiency
- Reduced operational errors
- Increased customer satisfaction
Course Outline
Unit 1: Insurance Industry Overview
Market Fundamentals- History and evolution of insurance
- Types of insurance companies
- Insurance distribution channels
- Regulatory framework overview
Unit 2: Insurance Products
Product Types- Life insurance products and features
- Health insurance coverage options
- Property and casualty insurance
- Specialty insurance products
Unit 3: Underwriting Principles
Risk Assessment- Underwriting process and guidelines
- Risk classification systems
- Medical underwriting basics
- Property risk assessment
Unit 4: Claims Management
Claims Processing- Claims intake and investigation
- Claims adjudication process
- Fraud detection and prevention
- Settlement and payment procedures
Unit 5: Insurance Operations
Business ProcessesUnit 6: Financial Aspects
Insurance Economics- Insurance company financial statements
- Premium pricing and reserving
- Investment management for insurers
- Solvency and capital requirements
Unit 7: Industry Trends
Future Developments- Digital transformation in insurance
- Insurtech innovations
- Climate change impacts
- Regulatory developments
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