Insurance Fundamentals for Professionals new to the Insurance Industry
Insurance Fundamentals for Professionals new to the Insurance Industry

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Insurance Fundamentals for Professionals new to the Insurance Industry

Insurance Basics for Global Teams and Cross-Functional Roles

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Die individuelle Unternehmenslösung für Ihre Mitarbeiter

  • Individuell – Schulung nach Ihrem Bedarf
  • Flexibel – Vor Ort oder online
  • Lohnend – Kostenvorteil ab 5 Personen
  • Passend – Maßgeschneidertes Angebot für Ihr Team

Insurance companies rely on experts from many different functions — from IT, HR and finance to operations, customer service and project management. For professionals new to insurance, however, industry terminology, products, processes and market structures can quickly become difficult to navigate.

This online training provides international employees from IT, finance and adjacent functions with a structured understanding of the insurance business and key insurance fundamentals. Participants explore the nature of risk and risk management, different types of insurers and sales systems, regulation, legal principles, contract analysis, financial operations and selected aspects of commercial insurance. In addition, the course helps participants follow insurance-related developments in their home markets and better understand market dynamics and industry discussions in an international business context.

Objectives & Benefits

Participants will learn to:  

  • understand the structures, business models and market dynamics of the insurance industry
  • comprehend and contextualise the key management tasks within an insurance company,
  • recognise the interconnections between insurance functions, processes and decision-making structures
  • translate insurance-specific mechanisms into everyday work and project logic, closing the gap between business, technology and steering functions within insurance organisations

Topics

  • Risk, its treatment & insurance: definition of risk, burden of risk on society, characteristics of insurance, law of large numbers, types of insurance
  • Introduction to risk management & enterprise risk management: objectives of risk management, insurance market dynamics, analysis in risk management decision-making
  • Types of insurers, sales systems & insurance company operations: private insurance types, agents, brokers and other sales channels, underwriting, AI in insurance operations, reinsurance
  • Government regulation of insurance: reasons and methods for regulation, state vs. federal regulation, current issues in insurance regulation (e.g. EU AI Act)
  • Fundamental legal principles: indemnity, insurable interest, subrogation, the role of law and the insurance agent
  • Analysis of insurance contracts: requirements and parts of an insurance contract, coinsurance, other insurance provisions
  • Financial operations of insurance: rate making in property and casualty insurance and in life insurance
  • Commercial insurance & country specifics: commercial property and liability insurance, captives, selected specifics of insurance markets

     
SessionTopicSelected focus areasLearning outcome: After studying this chapter…
1Risk, Its Treatment & InsuranceDefinition of risk, burden of risk on society, characteristics of insurance, law of large numbers, types of insurance… participants can understand the concept of insurance and its value to society
2Introduction to Risk Management & Enterprise Risk ManagementMeaning and objectives of risk management, insurance market dynamics, analysis in risk management decision-making … participants can apply principles of risk management and explain how enterprise risk management differs
3Types of Insurers, Sales Systems & Insurance Company OperationsTypes of private insurance, agents, brokers and other sales channels, underwriting, AI in insurance operations, reinsurance… participants can describe the major types of private insurance and how they function 
4Government Regulation of InsuranceReasons for insurance regulation, methods for regulating insurance, state versus federal regulation, current issues in insurance regulation (i.e. EU AI Act)… participants can argue for the purpose of regulation and reflect on the influence of regulation on their daily work 
5Fundamental Legal PrinciplesPrinciple of indemnity, principle of insurable interest, principle of subrogation, law and the insurance agent… participants can describe the nature and purpose of different principles of insurance
6Analysis of Insurance ContractsRequirements of an insurance contract, parts of an insurance contract, coinsurance, other insurance provisions… participants can identify the basic parts of any insurance contract and explain how losses are paid in the case of multiple insurance contracts covering the same loss
7Financial Operations of InsuranceRate making in property & casualty insurance, rate making in life insurance,… participants can discuss the profitability of property and casualty or life insurance
8Commercial Insurance & Country SpecificsCommercial property insurance, liability insurance, captives, international market differences… participants understand how insurance protects company assets and how insurance markets can differ 

Certificate

Participants must complete all modules and take part in the group presentation to receive the final certificate. 

Participation Information

Target group: The seminar is designed for international employees who regularly work with insurance companies, insurance processes, or insurance-related requirements without being insurance specialists themselves (e.g. staff from IT, data, finance, and project roles).  

Format & scope: 8 online sessions of 4 hours each. Participants must complete all modules and take part in the group presentation to receive the final certificate.  

Language: Conducted in English  

Concept & academic lead: Prof. Dr. Tim Jannusch, Institute for Insurance Studies, TH Köln 

Unsere Datenschutzhinweise für Teilnehmer:innen finden Sie hier.

Certificate

DVA certificate

Academic Lead

  • Prof. Dr. Tim Jannusch

    Professor für Vertriebsmanagement und Marktpsychologie am Institut für Versicherungswesen (ivwKöln) der TH Köln. Forschung am Centre for Emerging Risk Studies (CERS) der University of Limerick.
    Langjährige Lehrerfahrung mit Schwerpunkt Risk & Insurance im internationalen Kontext. Arbeitet interdisziplinär und anwendungsorientiert an forschungsbasierten Lösungen für gesellschaftliche Herausforderungen in Wissenschaft und Praxis.

Key Facts

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Abschluss

DVA certificate

Dauer

8 days, 4 hours each

Abschluss

DVA certificate

Dauer

8 days, 4 hours each

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