General Insurance Business: An Overview
6 Credits (ECTS)
General Insurance Business: An Overview
Get 70% back via Tax Credit
Module Description
This module introduces students to the basic insurance products and associated services for general insurance business.
These include risk types, policy wording, claims, underwriting, information and communication technology and customer service.
The module highlights the main classes of insurance as well as describing their features.
The module also tackles the potential for risk with regards to underwriters and how this can be prevented.
The syllabus then moves on to provide an overview of premium composition, the effect of the operation of policy conditions on claims and customer service within general insurance business amongst other topics.
Entry Requirements
Candidates who apply for this course must possess one of the following:
• 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 also be given to applicants having 1 year work experience related to the study programme.
*In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted in the course.
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
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Assessment 1
- Assessment 2
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Additional Info
Upon successful completion of this course, students will be eligible for a 70% refund of the cost through the ‘Get Qualified’ scheme.**
Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***
*Prices are applicable to students who reside in Malta at the time of applying.
**Terms and conditions apply.
*** For the price of individual modules, please contact the IDEA College team.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Identify the main insurance products and related services in general insurance business.
- Discuss the important function of underwriting and policy wordings in the general insurance business.
- Identify principles of premium calculation of general insurance business according to given context.
- Describe the claims handling mechanism for general insurance business.
- Apply principles regarding the operation of policy conditions affecting claims for general insurance business.
- Appreciate use of technology and issues of security, confidentiality, and data protection in the general insurance business.
- Identify the complexities surrounding claims and customer service in the general insurance business.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Identify the main insurance products and related services in general insurance business.
- Discuss the important function of underwriting and policy wordings in the general insurance business.
- Identify principles of premium calculation of general insurance business according to given context.
- Describe the claims handling mechanism for general insurance business.
- Apply principles regarding the operation of policy conditions affecting claims for general insurance business.
- Appreciate use of technology and issues of security, confidentiality, and data protection in the general insurance business.
- Identify the complexities surrounding claims and customer service in the general insurance business.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Outline the main general insurance products and non-insurance services available for individual or corporate clients.
- Conduct risk assessment to determine adequate insurance covers.
- Identify different types of insurance and what these cover.
- Apply the correct methods to formulate an insurance contract.
- Identify methods of reducing risks for underwriters.
- Identify the requirements for the validity of a claim.
- Describe the purpose and importance of data protection in insurance.
- Use technology effectively within the insurance industry.
- Practice good customer service skills within the insurance business.
- Identify the correct procedures for the settling of claims.
- Identify and propose ways to prevent fraud within the insurance business.
Module-Specific Communication Skills:
The learner will be able to:
- Communicate ideas, problems, and solutions to both specialist and non-specialist audiences.
Module-Specific Learner Skills:
At the end of the module/unit the learner will be able to:
- Outline the use of deductibles, excesses, and franchises in insurance.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.