Life Insurance and Reinsurance

Overview:

Introduction:

Life insurance and reinsurance provide financial protection by managing risks associated with life events. Life insurance offers individuals and families security through coverage payouts, while reinsurance allows insurance companies to mitigate their risk exposure by sharing liabilities with other insurers. This training program is designed to equip participants with the knowledge and skills necessary to navigate the complexities of life insurance and reinsurance in today’s dynamic financial environment.

Program Objectives:

By the end of this program, participants will be able to:

• Understand the core principles of life insurance and reinsurance.

• Apply effective risk assessment and underwriting techniques.

• Manage reinsurance processes for capital efficiency.

• Navigate regulatory frameworks and compliance requirements.

• Develop portfolio management strategies.

Target Audience:

• Insurance Brokers.

• Risk Managers.

• Compliance Officers.

• Risk Analysis Experts.

• Financial Analysts.

Program Outline:

Unit 1:

Comprehensive Life Insurance Principles and Risk Assessment:

• Overview of the history and evolution of life insurance.

• Key types of life insurance policies and their features.

• Essential elements of life insurance policies (premiums, death benefits, cash value).

• Key risk factors in underwriting (age, health, lifestyle).

• Techniques for classifying and pricing risks.

• Impact of policyholder behavior on risk assessment and premium calculation.

Unit 2:

Strategic Reinsurance Management and Operations:

• Key purposes and types of reinsurance (proportional and non-proportional).

• Overview of reinsurance treaties (facultative vs. treaty).

• Financial and operational benefits of reinsurance.

• Effective management of reinsurance programs and relationships.

• Monitoring reinsurance performance and resolving disputes.

• Assessing reinsurance cost-effectiveness and optimizing portfolio management.

Unit 3:

Regulatory Compliance and Future Innovations in Insurance:

• Regulatory requirements governing life insurance and reinsurance.

• Overview of Solvency II and its industry impact.

• Key international regulations affecting insurance practices.

• Emerging trends like digitalization and InsurTech.

• Innovations in risk modeling and predictive analytics for better compliance.