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(3.5/ 5) 22 Reviews
A program that qualifies you to pass the mandatory Insurance Fundamentals Certificate Exam (IFCE) required by (AI) and gives you a practical understanding of core insurance principles, governance, and operations in the insurance sector
(3.5/ 5)
22 Learner Rating
This training program is designed to prepare participants for the Insurance Fundamentals Certificate (IFCE) examination, a mandatory professional examination for employees working in the insurance sector in the Kingdom of Saudi Arabia. The program provides participants with essential knowledge of the insurance industry, covering insurance principles, risk management, insurance contracts, disclosure and indemnity, and insurance sector regulation. It also explores the structure of the Saudi insurance market, operational processes within insurance companies, various lines of insurance, and governance and compliance requirements, enabling participants to gain a comprehensive understanding of the insurance environment and its practical applications in accordance with approved regulatory frameworks. Note: This version of the program has been updated for 2026 and includes the IFCE examination fee. Professional Equivalencies: The IFCE is equivalent to W01 from the Chartered Insurance Institute (CII). It is also equivalent to LOMA 280 from LOMA.
Insurance Foundations Professional Certificate (IFCE)
Insurance
الاكتتاب
العمليات الخاصة بوثائق التأمين +6
الاكتتاب
العمليات الخاصة بوثائق التأمين
المطالبات
عمليات إعادة التأمين
المبيعات والتوزيع / الوسطاء
الالتزام ومكافحة غسل الأموال وتمويل الإرهاب
حوكمة الشركات
العناية بالعملاء
Operations
Not Exist
Lecture
Case Studies +3
Lecture
Case Studies
Brainstroming
Practical Implementation
Exercises and assignments
Other
Claims Officers / Claims ...
Insurance Policy Operatio...
Reinsurance Staff
Underwriting Staff
+4Claims Officers / Claims Specialists
Insurance Policy Operations Staff
Reinsurance Staff
Underwriting Staff
Sales & Distribution / Brokers Staff
Compliance & AML/CFT Staff
Corporate Governance Staff
Customer Care Staff
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
The role of risk in insurance
Categories of risk
Features of insurable risks
Components of risk
Insurance as a risk transfer mechanism
Pooling of risks
Self-insurance
Co-insurance and double insurance
Benefits of insurance
In Class Training-Online Training
Market structure
Types of insurers
Reinsurance
Intermediaries / Brokers
Distribution channels
The impact of the internet and technology
In Class Training-Online Training
Essentials of a valid contract
Offer and acceptance
Consideration
Intention to create legal relations
Capacity to contract
Cancellation of insurance contracts
Agency
Terms of Business Agreements (TOBAs)
In Class Training-Online Training
What is insurable interest?
When must insurable interest exist?
How is insurable interest applied?
In Class Training-Online Training
The principle of utmost good faith (Utmost Good Faith)
Duty of disclosure
Material facts
Consequences of non-disclosure and misrepresentation
Compulsory insurances
In Class Training-Online Training
Definition of proximate cause
Modification by policy wordings
In Class Training-Online Training
What is indemnity?
How is indemnity applied?
Measuring indemnity
Modifying indemnity
Limiting factors
In Class Training-Online Training
Contribution
How does contribution arise?
How is contribution applied?
Subrogation
Insurers’ subrogation rights
Where subrogation rights don’t apply
In Class Training-Online Training
The role of the insurance regulator
Insurance regulation in Saudi Arabia
Sharia compliance
International Association of Insurance Supervisors (IAIS)
Combating financial crime
The impact of fraud on the insurance industry
Capital adequacy of insurers
In Class Training-Online Training
Fair treatment of customers and positive customer outcomes
Corporate governance
Internal control system
Data protection
In Class Training-Online Training
Important senior positions in insurance companies
Key insurance operations
Classes of insurance
Basic principles of effective customer service
Equipping participants with the knowledge and skills required to successfully pass the Insurance Foundation Certificate Examination (IFCE) in accordance with approved standards.
Solidifying core legal and technical insurance principles and their practical applications within the work environment.
Understanding the full operational lifecycle of insurance policies, from risk assessment and underwriting to claims settlement.
Deepening the understanding of regulations issued by the Insurance Authority, including governance and AML/CTF requirements.
Enabling participants to identify and analyze insurance risks and select the most appropriate mitigation strategies.
Building a comprehensive awareness of the Saudi insurance market structure and the roles of companies, brokers, and reinsurers.
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