NATIONAL INSURANCE ACADEMY
PUNE
P082 - COMPREHENSIVE TECHNICAL PROGRAMME IN LIFE
INSURANCE (LIFE)
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
Post IPO – Challenges & Opportunities
§
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
§
Technology
Risk Management
§
Risk
Based Solvency & Risk Based Capital Requirements
§
Actuarial
Principles and Practices, Product Pricing
§
Valuation
Methods and Solvency Issues, Embedded value
§
Overview
of Insurance Core Principles (ICP)
§
CRM
Initiatives
§
Health
Insurance and Micro-insurance
§
Overview
of P & GS Business
§
G
& U Products and Mutual Fund
§
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.
Trainees nominated for this programme in the last two years should not be renominated.
Duration:
5 days
I.
23.06.2025
- 27.06.2025
II.
02.02.2026
- 06.02.2026