Life Insurance Management Training Course

Participants can assess pricing assumptions and monitor the profitability of life insurance products.

• Pricing basis built from mortality, lapse, expense and investment assumptions
• Gross premium valuation separates benefit, acquisition and maintenance costs
• Sensitivity testing measures profit exposure to adverse assumption changes
• Experience studies compare actual mortality, lapses and expenses against pricing
• Value of new business measures new policy profitability
• Product repricing triggers set through profit testing and experience analysis
• Management information links sales volumes, margins and distribution remuneration

Participants can apply underwriting controls to select risks within approved appetite and authority.

• Underwriting philosophy aligns risk selection with product pricing assumptions
• Proposal form review identifies medical, occupational and financial disclosures
• Medical evidence requirements determined through age, sum assured and risk
• Financial underwriting tests insurable interest, affordability and benefit justification
• Standard, rated, excluded and declined risks documented consistently
• Underwriting authority matrices define referral thresholds and escalation routes
• Anti-selection indicators monitored across channels, advisers and product types

Participants can manage policy servicing controls and use persistency data to protect portfolio value.

• Policy administration controls protect premium collection, benefits and policy records
• Grace periods, reinstatements and paid-up options administered under policy terms
• Persistency measures calculate renewal retention at monthly and annual durations
• Lapse analysis segments experience by product, channel, cohort and premium frequency
• Customer communication schedules support premium payment and retention decisions
• Complaint root-cause analysis identifies service failures and conduct concerns
• Service-level metrics monitor turnaround times, accuracy and outstanding work

Participants can control life claims from notification through payment, repudiation or escalation.

• Claims workflow defines notification, registration, assessment, decision and payment stages
• Policy conditions and exclusions tested against claim circumstances
• Death claim evidence verifies identity, cause, beneficiary and policy status
• Contestability reviews examine non-disclosure, misrepresentation and underwriting records
• Fraud red flags identify suspicious documents, relationships and claim timing
• Claims authority limits govern approvals, repudiations and complex referrals
• Claims dashboards track turnaround, acceptance rates, leakage and litigation

Participants can interpret life insurance reserving outputs and IFRS 17 management reporting.

• Best-estimate assumptions project future benefits, premiums, expenses and policyholder behaviour
• Discount rates reflect timing, currency and liability cash flow characteristics
• Risk adjustment represents non-financial risk within insurance liabilities
• Contractual service margin releases unearned profit as coverage is provided
• IFRS 17 insurance revenue differs from premium cash receipts
• Reserve movements explained through new business, experience, assumption and discount changes
• Actuarial function reporting communicates uncertainty, model limitations and recommendation

Participants can evaluate how capital requirements and reinsurance arrangements shape risk capacity.

• Solvency capital links available own funds to quantified risk exposures
• ORSA assesses forward-looking capital needs under business plan scenarios
• Retention limits define maximum net exposure by life and event
• Facultative and treaty reinsurance address individual and portfolio risk
• Quota share, surplus and excess-of-loss structures compared
• Reinsurance recoverable controls monitor counterparty exposure and collection performance
• Capital management actions consider dividends, reinsurance, repricing and growth constraints

Participants can assess investment decisions against life insurance liability and liquidity requirements.

• Asset-liability management matches asset cash flows to liability commitments
• Duration gap analysis measures interest-rate sensitivity mismatch
• Liquidity planning covers claims peaks, surrenders, collateral and expenses
• Strategic asset allocation reflects guarantees, capital charges and risk appetite
• Credit quality limits manage default and downgrade exposure
• Stress testing assesses rate shocks, spreads and mass lapse events
• Investment governance separates mandate setting, execution, valuation and oversight

Participants can govern life insurance distribution with appropriate suitability and conduct controls.

• Target-market assessment matches product features to customer needs
• Needs analysis documents protection gaps, affordability and customer objectives
• Suitability controls test recommendations against risk profile and time horizon
• Commission structures assessed for sales incentives and conduct risk
• Sales quality assurance reviews disclosures, replacements and policy cancellations
• Vulnerable customer procedures adapt communication, consent and support arrangements
• Conduct risk indicators combine complaints, lapses, claims and sales data

Participants can prioritise life insurance management actions using risk, performance and control evidence.

• Risk appetite statements set limits for mortality, lapse and market exposures
• Three-lines model assigns ownership, oversight and independent assurance responsibilities
• Key risk indicators establish thresholds, escalation triggers and accountable owners
• Management dashboards integrate sales, underwriting, claims, reserves and capital metrics
• Root-cause analysis distinguishes isolated incidents from systemic control failures
• Board reporting presents material exposures, trend explanations and management actions
• Ninety-day application plans assign priorities, milestones, owners and success measures