This training program aims to prepare participants with the knowledge and skills necessary to pass the Insurance Foundations Professional Exam (IFCE). This exam is mandatory for all employees of the insurance sector in the Saudi market. During this program, the participant will learn about the elements of insurance and the principles associated with them. This program also highlights the main functions of insurance companies and the products they provide to protect individuals and companies from the risks they are exposed to.
At the end of the training program, the participant should be able to:
1 Insurance
The risk
Insurance as a risk transfer mechanism
Risk Classification
Reinsurance: Concept, Purpose, and Types
Co-insurance and self-insurance
Insurance benefits
1 Objectives of Monitoring and Regulating the Insurance Industry
2 Historical Background of Insurance Industry in KSA
3 Key Reasons behind Regulating Insurance Sector
4 Insurance Regulation in the Kingdom of Saudi Arabia
5 Regulatory and Supervisory Bodies
6 Cooperative Insurance and Reinsurance Companies
7 Advantages of Insurance Companies in KSA
8 Insurance Profession Companies and Practitioners
1 Most prominent characteristics of the insurance products
2 Classifying insurance products in the Saudi insurance market
3 Basic principles of effective customer service
1 Legal principles of insurance contract:
Utmost good faith principle
Insurance Interest Principle
Indemnity Principle
1 The default organizational structure of the insurance companies The most important procedures of operations in Saudi market
1 Product development risk
2 Defrauding insurance companies’ risk
3 SAMA’s role in fighting insurance fraud
4 Obstacles Facing Insurance Companies in KSA
5 Reinsurance risk
6 Reputation risk
7 Non-compliance risk
8 Changes in country risk
9 Money-laundering and terrorism financing risk
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Names of the training programs that are integrated (enriched) with the training program:
Names of the training programs that after the training program:
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