To learn how to build a departmental business plan, the financial forms used for analysis and applying the knowledge to achieve business goals. The aim is to give to talented insurance professionals new knowledge and skills to apply in their organization.

Intended for

Senior Insurance Practitioners with management responsibility and accountability for a department, division or business unit. Also suitable for promising, high-potential young insurance managers who have been identified for more significant and broader management roles in their organizations.

Activities

Tutor input, template documents to be used as models for participants own businesses, individual and group exercises.

Course Content

  • Day 1 - Understanding and Identifying Risks

    • Understanding the International Risk Management Standard: ISO 31000
    • Categories of risks faced by Insurance Companies (Strategic, Operational, Insurance, Reserving, Credit, Liquidity, Market, Reputational, Compliance, Legal)
    • Understanding Enterprise Risk Management (“ERM”) practices and the Governance, Risk and Compliance ("GRC") approach
    • Methods of measuring risks and monitoring risk exposures
    • Identifying the company’s risk appetite and tolerance levels
  • Day 2 - Risk Analysis and Control

    • Setting the risk management policy and strategy
    • Managing risk culture in the firm
    • Selecting the most appropriate risk identification techniques
    • Risk analysis and ranking
    • Risk control and treatment options
    • Linking risk appetite with operational control
    • Risk reporting: using key risk indicators and the Risk Dashboard
    • Understanding the role of Stress Testing in insurance organizations
Partnership for a Total Solution IT Governance and Optimizations Operations Portal & E-Commerce Enterprise Architecture Application Development Advisory Services & Enablement Business Process Performance Management Innovation Value Centers