Objectives and competences
Main course objective is to be able to recall and explain concepts of Insurance industry and Insurance institutions, especially at the field of Insurance companies’ financial management. Student will be qualified for performing all kind of expert tasks at the field of Insurance Industry (in Insurance companies, regulation institutions, etc.).
Content (Syllabus outline)
1. Insurance companies, types of insurance business and basic principles of insurance business
2. Fundamentals of insurance industry
3. Life insurance, health insurance, Property and Casualty insurance, Retirement Insurance, Long term insurance
4. Actuary methods and technics, determination of insurance premium and liability assesment, data analysis and insurance statistics, probability and insurance plates
5. Clasification of risks, Insurance companies financial reports, basics of Insurance companies financial management
6. Financial flows analysis, risk taking principles, reservations and warranty funds,
7. Insurance companies investments strategies, capital assets pricing methods,
8. Internationalization and deregulation of insurance industry, evolution of insurance, investments and bankasurancce products, reinsurance
9. Insurance regulation and supervision, insurance costumer protection
Learning and teaching methods
Common lectures
AV presentations
Case studies
Team work with active participation
Intended learning outcomes - knowledge and understanding
Students in this course will:
1. Systematically upgrade their knowledge in the field of insurance industry and actuarial science (PILO 2a).
2. Use specific theories of the ALM function and related insurance research (PILO 2a, PILO 2b).
3. Distinguish and compare the structural features of different insurance segments (PILO 2b).
4. Develop the ability to assess performance factors of insurance undertakings and insurance markets (PILO 2a, PILO 2b).
5. Compare regulatory approaches and methodologies in insurance supervision (PILO 2a, PILO 2b).
6. Are aware of their own ethical and professional responsibility of insurance companies and industry (PILO 4a).
7. Critically analyse complex, incomplete (incomplete) and contradictory areas of knowledge and understandably explain the results of critical analysis ( PILO 2c, PILO 3a)
8. They independently substantiate their findings in analytical work on the chosen insurer question or case study (PILO 3b, PILO 4B).
9. Critically assess the sustainable and social impact of insurance companies and insurance industry services (PILO 4b).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Intended learning outcomes - transferable/key skills and other attributes
Students in this course will:
1. Systematically upgrade their knowledge in the field of insurance industry and actuarial science (PILO 2a).
2. Use specific theories of the ALM function and related insurance research (PILO 2a, PILO 2b).
3. Distinguish and compare the structural features of different insurance segments (PILO 2b).
4. Develop the ability to assess performance factors of insurance undertakings and insurance markets (PILO 2a, PILO 2b).
5. Compare regulatory approaches and methodologies in insurance supervision (PILO 2a, PILO 2b).
6. Are aware of their own ethical and professional responsibility of insurance companies and industry (PILO 4a).
7. Critically analyse complex, incomplete (incomplete) and contradictory areas of knowledge and understandably explain the results of critical analysis ( PILO 2c, PILO 3a)
8. They independently substantiate their findings in analytical work on the chosen insurer question or case study (PILO 3b, PILO 4B).
9. Critically assess the sustainable and social impact of insurance companies and insurance industry services (PILO 4b).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Readings
Učbenik za zavarovalne zastopnike in zavarovalne posrednike, Slovensko zavarovalno združenje, september 2022 (ali novejša izdaja)
Zbirka znanja za zavarovalništvo, 2010, Slovensko zavarovalno združenje (izbrana poglavja)
Rejda, P. (2011), Principles of Risk Management and Insurance, Pearson. (izbrana poglavja)
Zavarovalni pogoji in klavzule, Zakon o zavarovalništvu, primeri zavarovalnih pogodb in klavzule
Izbrani članki iz zavarovalniške tematike, gradiva za seminarje zavarovalstva in aktuarstva, ipd.
Additional information on implementation and assessment Written exam or midterm tests.
Seminar work
Written exam or midterm tests - wWritten exam or two midterm tests.
Seminar work - writing an individual seminar paper and oral presentation.
