Risk Management Framework for Insurers and Reinsurers

This insurance course is designed to help kick off the processes related to risk management. It is aimed at not only preparers and users of accounts but also implementation team members and will help them get to grips with reinsurance by providing, at the very least, initial working knowledge of the rules, how the numbers are constructed and presented and the story that they are telling.

COURSE CONTENT

Introduction

• General requirements
• Guidance notes for insurers and reinsurers
• Elements of a risk management strategy
• Risk management process
• Material risks in insurance
• Own risk and solvency assessment
• Financial condition report

Annuity business

• Books of accounts
• Investment of retiree annuity funds
• Liabilities adequacy test
• Returns of transactions and reporting schedule
• Head of annuity unit

Actuarial function

• Internal actuarial functions
• External actuary
• Embedded values

Outsourcing

• Introduction
• General Requirements
• Broad Classification of Activities
• Reporting Requirements
• Remedies for Grievances Related to Outsourced Services

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.