Bachelor of Science (Honours) in Insurance Studies

Course Description

The overall Bachelor of Science (Honours) in Insurance Studies is a Level 6 qualification of 180 ECTS intended to expose students to the structures and mechanisms of the insurance market and the various types of general and long-term insurance contracts and the principles underlying them.

It also covers important related areas including Risk Management, Anti-Money Laundering and Compliance, financial aspects, and more modern considerations in the industry. Additional relevant knowledge is provided to provide students with managerial, operational, analytical and research skills which are required of insurance professionals.

In the first year, focus is placed on providing students with a solid foundation for the study of Insurance. Students will be exposed to fundamental principles across core disciplines in insurance, risk management and finance. Additionally, students will be able covering study units from the areas of Business Management, Anti-Money Laundering and Compliance and Management.

The second year builds on principles learnt in the first year and delves deeper into aspects of regulatory and legislative aspects of insurance, insurance products, retirement planning, pensions, and reinsurance. Emphasis is placed on developing the students’ transferable skills, strengthening their analytical and problem-solving abilities.

Students will again have the opportunity to study units within areas of Finance, Business Management, Anti-Money Laundering and Compliance, and Management. The final year consolidates on the first two years of the programme. Students will have the opportunity to further develop their critical skills and deepen their knowledge of complex issues in insurance.

Beyond the core units, students will be required to undertake a project, hence get the opportunity to focus on a particular area that is of interest to them by choosing from an evolving range of topics covered throughout the programme.

Through their study, students will also acquire more advanced quantitative and qualitative skills. The structure of this qualification is such that students will acquire accredited qualifications following the completion of each year of study, from diploma to higher diploma to degree level, while providing the students a good basis upon which they may wish to independently sit for CII examinations upon review of the relevant study material.

Entry Requirements

Candidates who apply for this course will possess:

• A related qualification at MQF Level 4

and/or

• One ‘A’ Level or equivalent and a pass in English Language*, Mathematics, and/or Business Studies at MQF Level 3 (‘O’ Level or equivalent).
• Preference will be given to applicants possessing two ‘A’ level passes or equivalent
• Preference will also be given to applicants having 1 year work experience related to the study programme.

In the case of mature students who do not possess all the formal required academic qualifications, then the RPL process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted in the course. Such RPL process will subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA Academy, so as to verify their experiences and prior learning.

Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.

Should applicants not satisfy this requirement, but have reasonable experience, they would then be interviewed by the Admissions Board.

Target Audience

This course is targeted at:

• Individuals seeking to advance their academic and professional knowledge in Insurance.
• Individuals wanting to pursue a wide range of career paths within the insurance profession.
• Individuals wanting to enhance their ability to interpret, assess and communicate insurance related information.

Career Paths

This programme leads to a bachelor’s qualification that will cover the general requirements of the Chartered Insurance Institute, which will secure the competences for individuals who aspire for professional roles in this industry.

The potential positions for which this programme aims to prepare could be and are not limited to:

• Claims: Claims Handler Surveyor, Claims Executives
• Insurance Compliance Officer
• Insurance Advisor
• Insurance Business Analyst / Consultant
• Insurance Operations Executives
• Insurance Product and Business Development Executives
• Risk Management Executives
• Underwriting Executives

Modules

You are required to complete all 27 modules to obtain the Bachelor of Science in Insurance Studies

How you’ll be assessed

The course comprises:

• 6 lectures per module;
• 3-hour lectures (evening);
• 12 hours of guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos;
• Self-study hours comprising research, reading and assignment work.

Assessment is carried out via two mandatory components:

• Modular Assessment;
• Project Assessment

The course also includes additional, specialised support to help you write your Dissertation, including classes on Qualitative/Quantitative data analysis tools, as well as Dissertation Workshops

Assessment

Overall assessment of this programme consists of two main components:

1. Modular Assessment carries 90% of the final grade. 2. The Project carries 10% of the final grade. 1.

Modular Assessment

The modular score achieved at the end of the study programme modules is calculated by summing up and working an average of the overall grades obtained in all of the study modules.

The final grade achieved by the modular component of the programme is calculated by working out 90% of the modular score obtained for the study modules.

Overall assessment weighting for each module consists of: Each module consists of two assessment tasks, each carrying a weighting as below: a) Assessment 1 carries 20% of total module mark achieved. b) Assessment 2 carries 80% of total module mark achieved.

Project Assessment

Assessment of Project is primarily based on:

• Depth of critical understanding of the theoretical framework.
• Application of appropriate research tools.
• Critical approach to analysis, interpretation and evaluation of research findings.
• Depth and level of argumentation build-up.
• Original contribution to the generation of new knowledge/hypothesis/models.
• Scholarly presentation meeting academic standards.