BASIC RATEMAKING FOR INSURANCE

This section introduces the general principles of ratemaking as well as specific details regarding data requirements, calculations, key assumptions, and implementation-related issues.  Candidates require a thorough understanding of basic ratemaking so that they will be able to analyze data, select appropriate techniques, and develop solutions to problems.  This section addresses the advantages and disadvantages of the various ratemaking techniques as they are applied to specific situations and different lines of business.  Classification of insureds for the purpose of risk stratification and other important ratemaking topics.

 
ACTUARIAL LOSS RESERVING TECHNIQUES

This section explores basic techniques that Actuaries use to estimate unpaid claims for both insurance entities & also for non-insurance entities that retain risk.  The CAS (Casualty Actuarial Society’) Principles & the American Academy of Actuaries’ (AAA) Standards of Practice (SOP) related to the estimation of unpaid claims will be examined & addressed.

FINANCIAL ECONOMICS

Learn about capital markets, their different products, correlations, and the role they play in the world’s economy.
Introduce fundamental concepts and principles of Micro- & Macro- economics.
Define and recognize the time value of money & learn about the different terms associated with interest rates and its applications.
The stock market hypothesis, how to benefit and what to avoid?
Learn the general characteristics of derivatives, future & forward contracts, options and hedging strategies along with their applications.

 

INTRODUCTION INTO INSURANCE

In this section we give an overview to the financial sector and the significant role the insurance industry plays in its development and success.  We discuss the evolution of insurance and how it lent itself to the evolution of Actuarial science.  We answer important questions such as Who needs insurance? Why we need insurance? What is an Actuary? What does an Actuary do? .....etc. 
And finally, we conclude by familiarizing candidates with the fundamentals of insurance and with basic accounting concepts and principles.

Practitioners in the financial sector need to stay on top of the hot issues in the market and never lose sight of the fundamentals.  Our role is to bring everybody to the lab again to test and practice, to review the theory and to learn how to apply it to real life cases.
 
We offer dynamic training programs with hands on approach and many applications and tools to utilize in the work place.  

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REINSURANCE PRINCIPLES

How companies read, understand and utilize reinsurance contracts is the main goal here. This coaching guide you through the basics of insurance dealings to the advancement of retrocession transactions; their terms, conditions, obligations, consequences, costs and benefits will be discussed, and the principles grasped.

 
FINANCIAL MATHEMATICS

Develop knowledge of the fundamental concepts of financial mathematics, and how those concepts are applied in calculating present and accumulated values for various streams of cash flows as a basis for future use in: reserving, valuation, pricing, asset-liability management (ALM), investment income, capital budgeting, and valuing contingency cash flows.  The candidates will also be introduced to different financial instruments, including derivatives, and to the concepts of no-arbitrage, hedging, Beta trading and meeting Alpha.

FINANCIAL RISK & RATE OF RETURN

A broad array of finance, investment, and financial risk management topics.  This section assumes a working knowledge of basic ratemaking, finance, probability and statistical modeling, liability and reserve risk, and insurance underwriting.  The goal is to advance the ability to apply this knowledge and experience to deal with problems for which there are no generally recognized solutions.
This course is comprised of the following six building blocks:
Portfolio Theory and Equilibrium in Capital Markets.
Asset-Liability Management (ALM)
Financial Risk Management
Rate of Return, Risk Loads, and Contingency Provision
Insurance Company Valuation
Capital Adequacy
 

ENTERPRISE RISK MANAGEMENT

This section introduces the candidate to the concepts and basic techniques of Enterprise Risk Management (ERM).  ERM seeks to integrate the entire landscape of risk that confronts a business.  Topics include value of risk management and basic modeling concepts.