Managing Insurance Organizations and Self-insurance

English
Canceled: 
CEF: 
0
Course Code: 
PBA60003
Discipline: 
Business & Management
Insurance
Discount Type: 
.00
Email: 
arvinlau@vtc.edu.hk
Fee: 
$7,800.00
Full: 
0
  • This course has been included in the list of reimbursable courses under the Continuing Education Fund. The mother course (Postgraduate Diploma in Insurance in Risk Management) of this module is recognised under the Qualifications Framework (QF Level 6)
  • CEF Course Code: 33Z137228
  • Reimbursement requirements: CEF claimants would be eligible for fee reimbursement upon their successful completion of any of the module from Postgraduate Diploma in Insurance in Risk Management, with the fulfillment of both the minimum attendance requirement of 70% AND passing the module at 50% or above, subject to the prevailing CEF rules and procedures. For details, please visit CEF Website at https://www.wfsfaa.gov.hk/cef .

****

Postgraduate Diploma in Insurance in Risk Management (PgDIRM) Mentorship Scheme

Introduction

The Objective of this Mentorship Scheme is to provide a platform for continuing students of PgDIRM to learn from seasoned industry personnel working in Insurance or Risk management industry for the purpose of their career development as a guided learning for sustainability of the profession in Insurance and/or Risk management through consultation and experience sharing.  

Mentoring is an interaction process that provides opportunities for the mentors and mentees to experience, share and learn from each other's gifts and talents. It is believed that students have much to learn and gain insight from association with mature, prudent and prominent people in the community. The mentor-mentee relationships will have a profound influence on the students' personal growth, career development and even life values. Through mentor-mentee connections, mentor shares professional practice and information, offers advice, and teaches the mentee, and on the other hand, mentee brings in new questions, ideas and enthusiasm to the mentor. Consequently, the mentor-mentee becomes a beneficial process both for the mentor and mentee.

Anything discussed during the mentor-mentee relationship is to be maintained confidential.

Any queries, concerns or complaints, including the need for temporary suspension of this Scheme due to conflict of interest like mentor happens to be the PgDIRM lecturer of the mentee have to be discussed with PgDIRM Programme Director as soon as possible for necessary actions.

Mentors and mentees are given the discretion to decide on the mentorship arrangements and meetings.

While no specific rules are in place, the mentors and mentees are encouraged to meet at least four times throughout the year, apart from regular phone / email communications, so that the objectives of the Scheme can be fulfilled. Some of the useful tips of mentor and mentee can refer to programme guidelines whenever applicable as per https://www.hkicpa.org.hk/mentorship or https://www.mentorship.hku.hk/daao/index.php/faq/.

Application Process

Any persons who are interested to become Mentor/ Mentee (PgDIRM continuing student) should send the following information in soft copies to PgDIRM Programme Officer:

• 2-page resume / CV with contact email and mobile phone

• objectives of what he/she expects to achieve by participating in this Scheme as mentor/mentee and the most relevant fields (in order of priority like motor claims, product liability underwriting, etc. ) for basis of matching

Mentees’ applications are accepted on a first-come-first served basis, subject to a successful matching process for a period of one year of the Mentorship Scheme and upon expiry, can be applied again for different fields of career interest.

To facilitate the mentees to reflect what they have gained from the Mentorship Scheme, mentees will be asked to submit a half-yearly report. Mentors and mentees are always welcome to share with us their mentorship experience and remarkable moments from time to time

Mentees are expected to:

• take initiatives to contact your mentors and propose your own objectives and activities

• stay in close interaction throughout the mentorship period

• collaborate with your mentor and make yourself available for mentorship activities

• keep your mentor posted about your schedule

• present with appropriate manner and attitude when participating in mentorship activities

 

Name: 
Managing Insurance Organizations and Self-insurance
New Course: 
0
NTTS: 
MPFA Core: 
0
non-MPFA core: 
0
IA: 
0
SFC: 
0
Law Society: 
0
Seminar Date: 
Monday, January 1, 1900
QF Level: 
0
Search Level: 
Module Certificate
Only Member Apply: 
cpd_hr: 
0
cou_coucef_code: 
33Z137228
Enquiry: 
Mr. John Tsang (Programme Director) Tel: 2836 1863 Email: johntsang@vtc.edu.hk   Mr. Arvin Lau (Programme Secretary) Tel: 2919 1429 Email: arvinlau@vtc.edu.hk  

Intended Learning Outcomes:

On completion of the module, students are expected to be able to:

  1. diagnose risks and factors that affect operational and management functions in insurance organizations;
     
  2. evaluate the performance of insurance organizations with consideration of the latest changes of business situation;
     
  3. formulate corporate-level strategies and policies, in compliance with regulatory requirements, for insurance organizations; and
     
  4. develop self-insurance frameworks including captive insurance.

 

Learning Contents

1. Role of insurance organizations and financial industry, including the London and China Market and Takaful types of insurance

  • formation of various insurance organizations including bancassurance, companies, intermediaries (agent & broker) of life, reinsurance, general and financial advisers (including MPF)
     
  • the organizational structure and culture of insurance organizations, captive insurers, government, NGO, third party administrators, managing general agent, etc.

     Key operational and management functions of insurance organizations

  • information systems, including Fintech (Financial Technology), E-commerce, digital trend and big data
  • marketing,
  • human resources including outsources
  • product development and actuarial
  • underwriting
  • customer services
  • claims
  • distributing products including internet sales and social media
  • investmen
  • risk management

2.  Premium equation and portfolio management

  • key actuarial concept
  • pricing and aggregate loss models
    underwriting cycle
  • investment and underwriting

3.  Accounting, including insurance company accounts

  • accounting principles and practices
  • practices of insurance company accounts
  • use of financial ratios and insurance ratios to assess businesses
  • financial strength of insurance companies
  • unearned premium liability and acquisition costs
  • claims provisions
  • reserves, incurred but not reported reserve
  • insurance company reserves and solvency margins, including risk-based capital framework
  • performance evaluation methodologies

4.  Legal and compliance, corporate governance

5. Strategic planning for long-term growth, including management of insurance organizations

New product development

Research methodology and skills, associating knowledge taught in other modules throughout the project briefing and on-going guidance

6. Evaluating insurance programmes including retention

Captive including its characteristic, captive manager, self-insurance

Other risk transfer mechanism including finite risk, mutual insurance arrangement 

 

cou_real_id: 
981390738
cou_id: 
13907
coucl_real_id: 
151943874
coucl_schedule: 

Jan 14, 21<br>Feb 04, 11, 18, 25<br>Mar 04, 11, 18, 25<br>(Every Tue, 18:45 - 21:45)

coucl_start_date: 
Tuesday, January 14, 2025 - 08:00
cou_coucpd_id: 
No
EAA: 
0
coucl_enr_status: 
0
csv_update_datetime: 
Tuesday, January 21, 2025 - 11:55
coucl_status: 
0

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