Insurance and Claims Courses & Certifications Online

Module

Topics Covered

1. Conceptual Framework

• What Is Insurance
• Brief History of Insurance
• Perils and Risks
• Classification of Risks
• Hazards
• How Insurance Works
• Classes of Insurance
• Assumptions
• Importance of Insurance Industry

2. The Business of Insurance

• Managing Risk Retention
• Life Insurance
• Managing Insurance
• Funds of An Insurer
• Trustee
• Reinsurance
• Role of Insurance in Economic Development
• Insurance and Social Security

3. The Insurance Contract

• Utmost Good Faith (Uberrima Fides)
• Insurable Interest
• Insurer's Insurable Interest
• Criminal Acts
• Indemnity
• Subrogation and Contribution
• Proximate Cause
• Personal and Non-Personal Contracts

4. Insurance Products

• Life Insurance Products
• Non-Life Insurance: Fire, Loss of Profits, Marine (Cargo & Hull), Motor, Personal Accident, Health, Liability, Engineering and Aviation

5. Insurance Terminology

• Life Insurance Terms: First Premium, Renewal & Mode, Limited Payment Policies, Single Premium, Convertible, Days of Grace, Lapse, Paid Up Policy, Revival, Deferment Period, Nomination, Assignment, Bonus, With/Without Profit, Surrender Value
• Non-Life Insurance Terms: Market Agreements,  Cover Notes, Certificates of Insurance, Open Policy, Floater, Excess & Franchise, Claims & Salvage, Coinsurance, Types of Loss, Bonus & Malus, Replacement, Policy Types, Insurance Time/Institute Cargo Clauses, Solatium Fund, Hit and Run Cases, Arbitration

6. The Insurance Market

• Life and Non-Life Insurers
• Reinsurers
• Individual and Corporate Agents
• Brokers
• Surveyors
• Medical Examiners
• Third Party Administrators
• Regulator IRDA
• Insurance Councils
• Ombudsmen
• Educational Institutes
• Councils
• Tariff Advisory Committee

7. Regulations

• The Insurance Act, 1938
• Insurance Regulatory and Development Act, 1999
• Life Insurance Corporation Act, 1956
• General Insurance Business (Nationalization) Act, 1972
• Consumer Protection Act, 1986 (COPA)
• Income Tax Act
• Other Laws

8. The Insurance Customer

• Customer Differences
• Different Mind Sets
• Customer Satisfaction
• Ethical Behavior
• Risk Management: Avoidance/Prevention, Reduction, Retention, Transfer, 
• Techniques: Separation, Duplication, Diversification, Retention and The Individual

Job Designation

Description

Insurance Agent/Broker

Through online insurance courses, students gain knowledge of various insurance products, sales techniques, and licensing requirements. These courses train students on ways to assess client needs and match them with appropriate policies.

Underwriter

These professionals develop skills in risk assessment, policy analysis, and premium calculation through online insurance courses. Online insurance courses; teaches industry-specific software for underwriting decisions

Claims Adjuster

Insurance courses are useful for getting trained in claims investigation techniques, policy interpretation, and negotiation skills. These courses provide an in-depth understanding of the legal aspects of claims settlement.

Risk Manager

Online insurance courses enhance the ability to identify and analyse potential risks. These courses teach strategies for risk mitigation and transfer through insurance.

Actuary

After completing insurance certifications, students can get into actuary as these courses provide a foundation in actuarial mathematics, statistical analysis, and financial modelling. These skills are used in pricing insurance products and assessing company reserves.

Insurance Fraud Investigator

These professionals detect fraudulent claims. Through online insurance certifications, they are well-versed in interviewing techniques, and insurance law related to fraud.

Insurance Examiner

Online insurance courses offer an understanding of insurance regulations and compliance requirements. These teach auditing techniques for ensuring insurer adherence to laws.

Reinsurance Specialist

Insurance courses provide knowledge of reinsurance concepts, treaty structures, and international insurance markets. These courses teach reinsurance specialists skills to negotiate reinsurance agreements.

Insurance Product Manager

These courses help product managers understand market trends, product development processes, and pricing strategies. They provide knowledge of regulatory requirements for new insurance products.