Online course: LOMA 308 - The Business of Insurance: Applying Financial Concepts

Details

LOMA 308 course presents basic economic, financial, and business concepts and practices related to insurance company management, operations, solvency, and profitability. The course utilizes extensive examples and exercises that enable learners to understand and apply important financial concepts and principles in their own work environments.

This course is delivered as a highly interactive online course, and non-proctored modularized exams are integrated within the course.

Language: English

The course is online and can be accessed both from computer and mobile devices.

Target group

Employees of companies from the insurance and financial services industry.

Course objectives

• Describe the basic types of financial products and identify the financial needs these products are designed to address
• Explain the steps in the control process and describe the important control mechanisms insurance companies use to measure, evaluate, and improve their operational performance
• Describe the major categories of life insurer investments and explain how insurers use the required rate of return, the risk-free rate of return, and the risk premium to evaluate these investments
• Describe how insurers determine the values for a product’s cost of benefits, operating expenses, and investment earnings and how they evaluate product performance
• Describe how insurers use cost-benefit analysis, rightsizing, outsourcing, remote work arrangements, and information technology to manage general and administrative expenses
• Explain how insurers use information technology to manage and improve the customer experience and key business processes
• Perform present value calculations, explain how the present value of an annuity is calculated, and describe insurer applications of present value
• Describe the ratio-based systems used by regulators and rating agencies to monitor and evaluate insurance company solvency and profitability

All LOMA courses have been reviewed and updated as appropriate to reflect the DOL Fiduciary Rule.

Duration / Period

12 - 15 hours

The displayed period is indicative, being online the course is available at any time.

The course can be completed within 6 months of enrollment.

Investment

The necessary investement for this course is of 200 USD+VAT/participant.

The participation fee may be subject to changes based on LOMA policy.