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Advance your career in the insurance sector with the Diploma in Insurance — a technical and supervisory qualification that provides you with a solid understanding of the fundamentals and practical tools needed to succeed in a challenging environment. The program focuses on the Insurance Business and Finance unit (M92), offering insight into the principles of financial accounting and their applications, and how they impact insurance companies and their business operations.
The Diploma in Insurance is a technical and supervisory qualification designed for professionals working across all sectors of the insurance industry. It provides recipients with a solid understanding of insurance fundamentals and equips them with the necessary tools to operate effectively in a challenging work environment. Insurance Business and Finance (M92) is one of the key units required to obtain the Diploma in Insurance and can also be credited toward the Advanced Diploma in Insurance. Throughout this program, participants will explore the principles of financial accounting and their applications, understand how this function relates to other business operations, and examine how specific financial aspects impact insurance companies.
Insurance
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Accounting and Finance
Not Exist
Lecture
Case Studies +4
Lecture
Case Studies
Brainstroming
Practical Implementation
Dialogue Teams
Exercises and assignments
Pre Exam
Post Exam +1
Pre Exam
Post Exam
Simulation Test for professional exam
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- +4
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This provides you with the opportunity to select the available times that suit you best for participation in our program. These times represent slots during which we are ready to welcome you and provide assistance and guidance.
In Class Training-Online Training
Different types of insurance structures
Global perspective of the insurance market
Different distribution channels for insurance business
Different types of stakeholder and their interests
Business and insurance ethics
Reasons for company growth, including mergers and acquisitions
Outsourcing to external service providers
Change in the UK and global insurance industry
In Class Training-Online Training
Role and responsibilities of the board of directors and other senior executives
Key roles and responsibilities of managers, supervisors and non-managerial staff
Importance of business planning, performance monitoring, budgetary planning and control and decision making
The use of management information and management reporting
In Class Training-Online Training
Corporate governance framework and the incorporation of businesses
Statutory reporting requirements
How risk can be managed within the corporate governance framework
Importance of the management and protection of data, including accurate record keeping and reporting
In Class Training-Online Training
Role and significance of the main functions within insurance organizations
In Class Training-Online Training
Purpose and function of financial accounting
Distinguish between financial and management accounting
Users of financial information and their information requirements
Apply the basic financial concepts and the accounting equation
Accounting for receipts and payments
Interpret companies' financial documents
Principles of management accounting
In Class Training-Online Training
Main accounting standards that affect insurance company accounts
Insurance company reserving methods, incurred but Not Reported (IBNR) and the importance of accurate claims reserving
In Class Training-Online Training
Interpret general accounts through the use of financial ratios
Interpret insurance company accounts through the use of financial ratios
In Class Training-Online Training
Role of rating agencies and the rating process
Regulatory solvency requirements and how the financial strength of insurers is analyzed and the associated impact on them
Understand the structure of the insurance industry
Understand the management of insurance businesses.
Understand the main aspects of corporate governance.
Understand the role of the various functions within insurance organizations.
Understanding accounting principles and their application methods.
Understand accounting standards and insurance company accounts.
Analyze businesses using financial ratios
Understand the financial strength of insurance companies.
