Foundations of Insurance

Overview

Foundations of Insurance provides a deep dive into the insurance industry, covering essential aspects that will equip you with a robust understanding of the sector. You will start by exploring the rich history and evolution of insurance, followed by a detailed look at how the insurance business operates. This course is designed to walk you through different types of insurance policies, highlighting their unique features and key elements. You'll learn to identify and explain the structure of various insurance policies, providing you with the tools to effectively manage and navigate coverage. In addition, you'll gain insights into the legal and regulatory environment governing the insurance industry. By understanding the laws and customary compliance requirements, you will be better prepared to handle the complexities of the sector. The course helps you build a solid foundation in insurance, enhance your risk management skills, and gain confidence in navigating the legal landscape of the insurance world.

Syllabus

Introduction to the Insurance Industry

During this module you will gain a deep understanding of how insurance works, including its core principles, risk management techniques, and policy structures. We will explore different types of insurance policies, their unique features, and the legal and regulatory environment surrounding the industry. Join us on this exciting journey as we dive into the history, organization, and key elements of the insurance world. Get ready to expand your knowledge and navigate the insurance industry with confidence!

Insurance Principles and Risk Management

During this module you will develop a clear understanding of the fundamental principles of insurance, along with the techniques and concepts of risk management. By the end of this module, you will be able to explain the basic principles that underpin insurance, as well as demonstrate a comprehensive understanding of effective risk management techniques and concepts.

The Insurance Policy and Types of Policies

During this module our objective is to help you describe the key characteristics of an insurance policy and understand its structure. By the end of this module, you will be able to identify and explain the essential elements that define an insurance policy. You will also gain an understanding of how insurance policies are structured to provide coverage and manage risks effectively.

Legal, Regulatory Enviornment, and Compliance

During this module our objective is to help you recognize the legal and regulatory environment of the insurance industry. By the end of this module, you will also be able to identify customer compliance requirements within insurance.