Introduction to Insurance Basics

To provide participants with basic and essential knowledge and understanding of the principles and practice of General Insurance.

CONTENT

• Risk and Insurance
• Functions and Historical development of insurance.
• Fundamental principles of insurance – insurable interest, utmost good faith, indemnity, subrogation, contribution and proximate cause.
• The law of contract and agency and their application to Insurance
• Classes of general insurance
• Classes of life insurance
• Underwriting, Rating and Documentation
• Reinsurance – Need for re insurances, reinsurance programming, methods of reinsurance, and the reinsurance market.
• General insurance claims handling/administration
• Life Insurance Claims
• Micro-insurance
• Insurance marketing
• Soft skills
• Quality Customer Care

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.