Insurance Program

Insurance Program

For a person to succeed in the insurance industry means, meeting the client’s diverse needs and running the operation efficiently. The insurance and risk management program will incorporate innovation and excellence; participants will gain exceptionally strong critical thinking and analytical skills. This all will be aided with a vast array of practical interactions with business professionals in risk management, finance and operational consulting. The program will prepare the participants to identify and analyze risks and work in an orderly and efficient manner for achieving an optimal outcome when the risks are realized.

Personal Impact

  • Coordinate with industry peers in a serviceable way maximizing personal knowledge and administrative capabilities. Gain a comprehensive understanding of the local and international competition in the industry and how to remain at the top.
  • Network with peers and colleagues fostering good natured relationships that contribute to organizational growth.
  • Enhance performance and productivity at work, by developing an in-depth understanding of insurance terminology which will allow for better account management and increase of sales.

Training Methodology

The GBNTC Insurance Masterclass series offers the participant a ladder of which to climb in increasing one’s knowledge from one course to the next. Each master class consists of: short lectures, case studies, practical exercises, group discussions, knowledge sharing with industry peers and a real experience that is directly attached to the role and function the participant will serve in their respective organization. The educational tools utilized in developing these sessions are the rooted in best practices; GBNTC will utilize actual CEO voice surveys, industry impact analyses and market observations. The sessions challenge the participant, are practical and easy to understand and can be delivered in Arabic and English.

Program Outline

  • Analysis of Risk Managementand Control (2 days)
    Topics to be covered in this Masterclass will include risk analysis, qualitative analysis and how to control the risk. Methods for calculation of risk will be discussed with reference to real cases. The participants will understand the basic concepts of risk analysis and the relationship between the probability theory and modeling, risk analysis and decision analysis. They will learn to evaluate the probability modeling and will be able to interpret the basic tools of risk analysis. They will also be given an insight into the issues surrounding the use of risk analysis in decision making. The topics covered include dispute resolution, safety and risk control and managing crises and claims etc.ThisMasterclass will aim at enhancing the participants’ understanding of risk management and control that are crucial for organizations to meet their business objectives without compromising ethical and social responsibilities.
  • Claims Management (2 days)
    While overall the insurance industry competes on product development and product classification, claims management and recovery remains hidden and an underlined process. The companies can outperform their competition by focusing on areas where other industry peers are not focused and claims management represents one such blue ocean for insurance providers. By refining the claim management and recovery process and making it easier for the end users the insurance companies can establish a client centered care strategy which will help them better connect with the market and also take an edge over the competition. This masterclass will help the participants understand how to provide responsive, innovative and cost efficient claims solutions to the clients. It would enable the participants in scaling claims management process through the use of technology and innovative best practices.
  • Commercial Liability Insurance and Risk Management (2 days)
    The Masterclass will cover the major types of insurable lawsuits that an organization might encounter. The participants will get to know how insurance can cover these lawsuits and how the business can take proper measures to lessen the chances of litigation. The focus will also be on covering future loss prediction estimates and the analysis of self – insurance and high deductible applications.
  • Enterprise Risk Management in Insurance (2 days)
    This Masterclass defines and examines the types of risk and focus on understanding the process of risk identification, assessment, insurance, mitigation, prevention and recovery. By availing and utilizing the common operational, strategic and tactical scenarios the Masterclass will provide the participants with a comprehensive approach to the challenges faced by managers who deal in an environment where risk is pervasive and the threat of disruption from crises is real. Participants will explore real world examples and will be introduced to techniques needed to identify, analyze and respond to a variety of risks,both internal and external to the organizations.
  • Essentials of Loss Adjusting (2 days)
    The Masterclass builds up a comprehension of protection and expert behavior inside of the cases area. Participants will study delicate aptitudes and specialized abilities required to handle protection claims. The cases are mixed in the educational programs to enhance major protection claims-taking care of strategies. They will get an insight about overseeing connections with a specific end goal to accumulate basic data in the cases taking care of procedures. Through a regulated procedure, participants will move from comprehension to application, examination, union and assessment of theoretical cases situations so as to decide: a) if scope exists, and b) the amount of the case payable. They will also learn the fundamentals of investigation, evaluation, negotiation, and settlement within the claims process. Specific introductory claims knowledge will be covered in the context of automobile, property, and liability claims.
  • Financing of Risk (2 days)
    This will be one of the most complex and demanding Masterclass in this program as it will cover topics ranging from financing options, quantitative analysis, auditing perspectives and more. This Masterclass includes the selection, implementation and monitoring of risk financing techniques. They will learn to estimate hazard risk, to allocate costs of financing hazard risk and also to transfer the risk financing through a contract. The participants will be able to implement these techniques in their organizations and businesses and understand insurance and its regulations in depth from this Masterclass.
  • Insurance Foundation Certificate Examination (3 Days)
    (This Masterclass is offered on the 24th of October)The objective of this 3 day course is to introduce candidates to the need for insurance, the principles and legal framework those highlight its practice and Improving knowledge, developing skills, building careers. The success of any new industry will rely on the knowledge and skills of the people who work in the industry. This 5 day Masterclass will help the participants to understand the principles of insurance, underwriting, the regulations of insurance industry in Saudi Arabia etc. The main goal of this program is to develop excellence amongst insurance professionals in the Kingdom.
  • Individual and Group: Life and Health Insurance (2 days)
    The Masterclass will help analyze the uses of individual and group life health insurance to manage the financial risks that illness, incapacity and death pose to individuals and the organizations. The Masterclass incorporates an audit of, different wellbeing and life coverage items and their utility in tending to particular needs and circumstances, and in addition the endorsement and operational components that guarantors utilize in giving such items.
  • Insurance Law and Regulations (2 days)
    This Masterclass contains an investigation of the legitimate ideas and principles material to the field of protection. Essential legitimate issues of the foremost branches of protection are managed including fire, marine, loss, and extra security. The Masterclass can either refresh the insurance law knowledge for the participants or provide delegates with a basic understanding of insurance law and how they apply to an organization. The Masterclass will equip them with the knowledge, skills and practical tools needed to gain a thorough understanding of insurance law, practice and regulation.
  • Principle of Insurance (3 days)
    (This Masterclass is offered on the 2nd of August)This Masterclass will explore the principles of risk management and insurance. It will provide an understanding of the foundations, applications and selection of insurance. The participants will get an insight to ways in which business and society makes an assessment of, control and transfer risk. Participants will be engaged in active discovery of risk management principles and will develop an awareness of challenges, tools and process of designing and implementing these techniques in their organizations.
  • Principles of Risk Management (2 days)
    This Masterclass will introduce the participants to the general concepts of risk identification and management. Emphasis will be placed on analyzing various types of insurance including health,life, property, etc and on how the insurance industry develops, manages markets and underwrites the contracts in a complex economic and regulatory environment. They will also learn as to how, various products and methods including insurance can be used to manage the non-speculative risks of individuals and businesses.
  • Property and Liability Insurance (2 days)
    This Masterclass presents the key standards of property and risk protection and a system for planning and dissecting protection contracts. It inspects property and risk misfortune exposures and their administration, with essential accentuation on protection. The topics to be addressed in this Masterclass will be the fundamentals of commercial property and liability insurance, including commercial property and liability contracts, functions of property and liability insurers, and the regulation and financial analysis of property and liability insurers. Other topics include marketing, underwriting, rate-making and claim settlements.
  • Principles of Underwriting (3 days)
    (This Masterclass is offered on the 5th of September)The process of underwriting in Insurance relates to the selection, classification and rating of risk. In plain simple terms, this process entails the principles for categorizing an individual as standard or substandard risk, based on information and available resources. After the completion of classification procedure, the policy is determined and written based on the premium to be charged to the client and subsequently issued to the respective purchaser by the insurance agent. However, this process of risk classification and underwriting is not as easy as spelt above, often the evidence presented is concealed and misleading for the underwriters which may lead to adverse risk selection. This masterclass will enable the participants to understand how to classify different kinds of risk and would also enable the insurance producers in developing specific skills set to determine and gauge the proposed client.
  • Risk Assessment and Treatment (2 days)
    This Masterclass will provide the participants with a comprehensive outlook of the techniques and measures available to control risks from property, personnel etc. the theories of accident, their root causes and analysis will be discussed and strategies for treating risks will also be covered in this Masterclass. The participants will be able to apply the safety analysis to identify the potential losses and determine their causes as well. And will learn the techniques to keep their employees motivated to apply risk control measures within their organization and to successfully monitor the effectiveness of such measures.

Who should attend?

Employees of all levels (private and public sectors) including:

  • Decision makers, and agents from re-insurer companies
  • Property dealers and real estateportfolio managers
  • Decision makers and managersfrom asset management companies
  • Hedge fund managers
  • Stock brokers
  • Banking and insurance risk managementprofessionals
  • Risk underwriters Entry level employees
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