Introduction to Insurance

Course Introduction

This live on-line interactive insurance webinar is designed to introduce delegates to the Insurance world. It is suitable for people in non-insurance roles and those new to the industry.

The webinar will be highly interactive with delegate participation and engagement throughout.

The webinar is delivered by a Certified Online Learning Facilitator.

Course Objectives

By the end of this webinar delegates will be able to:

• Explain what insurance is and the implications for individuals and businesses
• Recognise the benefits of insurance to the UK
• Discuss factors that influence the underwriting of risks
• Describe typical policy structure and the importance of policy wordings
• Explain how the industry is regulated by the FCA and PRA

Course Content

• Why individuals and organisations purchase insurance
  • Compulsory Insurances
  • What do people/companies want to Insure?
  • Functions of Insurance

• Development of the Insurance Market
  • What does an underwriter do?
  • What does a Broker do?

• Assessing Insurance Risk
  • Methods of dealing with Risk
  • Risk Management
  • Key components of Risk
  • Frequency and Severity
  • Premiums
  • The Insurance Process

• Interpreting Policy wordings
  • The contract of Insurance
  • Insurance Policies: Typical Policy Content

• Handling Claims
  • Claims Objectives
  • Claims Service is a Differentiator
  • Reserving

• Industry regulation and compliance
  • FCA Objectives
  • The Prudential Regulation Authority (PRA)