NATIONAL INSURANCE ACADEMY
PUNE
P082 - COMPREHENSIVE TECHNICAL PROGRAMME IN LIFE
INSURANCE (LIFE)
(2024 - 25)
Background:
The life insurance industry is
facing multiple challenges today on the distribution, investment, regulation,
technology, customer expectations, business communication, servicing, and
demographic changes. The nascent fintech industry is disrupting the traditional
way of conducting financial business. This effect will become more profound in
the future across the world and Indian Life Insurance sector will be no
exception.
To face these challenges
successfully it is essential that every life insurer equip their executives with
the necessary technical skills. This process should start with imparting a
deeper knowledge about fundamental and principles of Life Insurance.
The next would be to make the executives aware of the different technical
aspects of the business. It’s not only essential to know the basics, but also
to have a fresh perspective at the application of such basics to the changing
business environment in terms of changing life expectancy, new social and
economic order, and current financial market dynamics. In the existing dynamics,
insurance frauds have increased substantially in National and International
markets. Thus, is essential to take a closer look at its prevention and
detection as well. Hence, the programme is designed to discuss technical aspects
of Life Insurance Business in the modern-day context.
Objectives:
At the end of the programme the
participants should be able to understand
§
International
Life Insurance Market
§
Current
economic scenario
§
LIC
in the listed environment
§
Financial
Markets
§
Life
Fund Investment & Investment Regulations
§
Fundamental
principles of life insurance business
§
New
avenues of customer communication
§
Evolving
distribution practices
§
Risk
and principles of risk Management
§
ERM
framework for life insurers
§
TRM
Framework for life insurers
§
Actuarial
Practices and Product Pricing
§
Valuation
Methods and Solvency Issues
§
Fraud
in Life Insurance & Its Prevention.
§
Fintech
Industry and Life Insurance
§
Technology
Outputs and Their Application to Life Business
Contents:
§
Global
and Indian Economic scenario
§
LIC
in the listed environment
§
International
Practices in Life Insurance
§
Fundamentals
and practices of Life Insurance in the changing Demographics
§
Life
Insurance Accounting /IND-AS/GAAP/IFRS
§
Financial
Markets and Life Fund Investment
§
Enterprise
Risk Management
§
Actuarial
Principles and Practices, Product Pricing
§
Valuation
Methods and Solvency Issues, Embedded value
§
Overview
of IRDAI Regulations
§
Policy
Holder Protection Act and CRM Initiatives
§
RTI
Act 2005 and its applications.
§
Health
Insurance, Micro-insurance & Regulations
§
P
& GS Business and Its Regulations
§
ULIP
& its regulations
§
Regulatory
Compliances
§
Leveraging
Information Technology for Life Insurance Operations, Insurtech
§
Data
Analytics
§
Cyber/Fraud
in Life Insurance and Its Preventions
Participants
Profile:
Officers in the cadres of ADMs
and DMs working in Central Office, Zonal Offices and Divisional Offices of LIC having residual
service of at least 5 years to be nominated by HRD Depts. of respective offices.
Duration:
5 Days
Dates:
I.
24.06.2024
- 28.06.2024
II. 02.09.2024-06.09.2024