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FLMI LOMA 371 — Risk Management and Product Development for Life Insurance Companies

Awarding body

Life Office Management Association (LOMA)

Specialization

Insurance

This program is about:

Providing a holistic picture of risk management and the entire product development process to help professional practitioners understand more about the reasoning behind their company’s decisions, the structure of a well-designed product, and how their own responsibilities contribute to the achievement of company financial goals.

At the end of the program, you will be able to:

  1. Understand Financial Orientation to Life Insurance Companies.
  2. Understand risk management in life insurance Companies.
  3. Understand the controlling expenses and risks in operations.
  4. Understand the financial modelling in insurance companies.
  5. Understand the new products and product development.
  6. Understand the technical product design, product Introduction, and product monitoring.
  7. Understand the Incorporating operating expenses into product design.
  8. Understand the cash values and accumulation values.
  9. Understand the mortality tables and assumptions.
  10. Understand the management of Mortality Risk.
  11. Understand the annuity product designs.
  12. Understand the dynamic applications in product modeling and profitability measures.

The program provide you with:

  1. Introduction to risk management and actuarial function.
  2. Solvency standards and risks life insurers manage.
  3. Risk management strategies.
  4. Financial modeling in risk management and product design.
  5. New product considerations, planning, and analysis.
  6. Technical product design, product introduction, and product monitoring.
  7. Investment earnings and technical product design.
  8. Mortality tables and assumptions.
  9. Operating expenses and policyholder behavior in technical product design.
  10. Life insurance technical product design.

The program is suitable for:

  • Profession level: All employees who are working in insurance, banking, and other financial services.
  • Education level: students and or recent Diploma or BA degree graduates in business, economics, management, and related fields of science and preferably with some work experience.

Awarding body:

Life Office Management Association (LOMA)

Specialization:

Insurance

Type of certificate:

Achievement

Assessment:

Online Exam

Career progression:

It leads to higher career levels: Fellow Life Management Institute (FLMI).

Venue:

Enma Institue

Tamkeen support scheme:

Professional Scheme

Learner Obligations:

Compliance to program rules & regulations set by the institute and awarding body.

Curriculum

  • Introduction To Risk Management And Actuarial Function.
  • Solvency Standards And Risks Life Insurers Manage.
  • Risk Management Strategies.
  • Financial Modeling In Risk Management And Product Design.
  • New Product Considerations, Planning, And Analysis.
  • Technical Product Design, Product Introduction, And Product Monitoring.
  • Investment Earnings And Technical Product Design.
  • Mortality Tables And Assumptions.
  • Operating Expenses And Policyholder Behavior In Technical Product Design.
  • Life Insurance Technical Product Design.
Duration

30 hours

Effort

2-5 hours/week

Institution

LOMA

Subject:

FLMI LOMA 371 — Risk Management and Product Development for Life Insurance Companies

 Quizzes:

Yes

  Language:

English

  Certificate:

Yes

Program Cost

1,050 BD

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Supported by

DCO Towers, Level 14, Diplomatic Area, Office 906, 9th Floot, Al Barghash Tower, Corniche, Al-Khobar

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