NATIONAL INSURANCE ACADEMY

PUNE

 

P082 - COMPREHENSIVE TECHNICAL PROGRAMME IN LIFE INSURANCE

(2022-23)

 

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. Its 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

  Regulations of different Distribution Channels and Channel conflict Management

  Consumer Protect Act 2019 (Amended)

  Policy Holder Protection Act and CRM Initiatives

  RTI Act 2005 and its applications.

  Corporate Governance

  Health Insurance, Micro-insurance  & Regulations

  P & GS Business and Its Regulations

  ULIP & its regulations

  Regulatory Compliances

  Digital Trends in Life Insurance Distribution

  Leveraging Information Technology for Life Insurance Operations, Insuretech

  Data Analytics

  Business Ethics

  Fraud in Life Insurance and Its Preventions

  Personal Financial Planning

  Project work & Presentation.  

 Participants Profile:

  Officers in the cadres of ADMs and DMs working in Central Office and Zonal Offices of LIC having residual service of at least 5 years to be nominated by HRD Depts. of respective offices.

 Duration:            5 Days

 Dates:             27.02.2023 - 03.03.2023