Banking and Insurance Industry

Introduction to the insurance business and basic products of the insurance business

Lecture, 2.00 ECTS

 

Course content

Introduction of basics of insurance management, whose history and importance for the economy, a overview of the market, the most important insurance products.

The core content should be:
[1] Basics and history of the insurance industry
[2] Introduction of legal social insurance and whose distinction to the private insurance
[3] Overview of the market
[4] Legal framework and supervisors: FMA, EIOPA etc
[5] Insurability
[6] Risk theoretical standard model
[7] Risktransfer and spred of risks, law of big numbers
[8] Security equivalent and risk premium
[9] Core business and actuarial risk
[10] Basic products: Property and casualty insurance
[11] Life insurance and health insurance

Optional contents:
[12] more insurance operations (Services-, savings-, dissavings-, investment-, and other business)
[13] Reinsurance

The course is completely held as a blended learning course to promote the digital skills of the participants and the flexibility of the time.

Learning outcomes

The students are able to solve financial mathematical calculations, know methods used for investment calculations and use them to calculate the profitability of investments and interpet the results. The students distinguish between different forms of financing. The graduates of the module know the important bank- and insurance products, the Austrian bank- and insurance industry, the national and international conditions in Austria and they understand whose functions and duties in the economic context.

Recommended or required reading and other learning resources / tools

Literature: Becker: Investition und Finanzierung;
Brealey, R.A.; Myers, St.C.: Principles of Corporate Finance. McGraw-Hill;
Fischer, E.O.: Finanzwirtschaft für Anfänger. Oldenburg;
Berk, DeMarzo: Grundlagen der Finanzwirtschaft;
Spremann, K.: Wirtschaft, Investition und Finanzierung;
Albrecht, P., Grundprinzipien der Finanz- und Versicherungsmathematik
Albrecht, P., Maurer, R.: Investment- und Risikomanagement. Modelle, Methoden, Anwendungen
Hartmann-Wendels u.a., Bankbetriebslehre;
W./Mühlmeyer, J./Bergmann, B.: Betriebslehre der Banken und Sparkassen;
Farny, Versicherungsbetriebslehre;
Versicherungswirtschaft (Hrsg.): Versicherungshandbuch;

Mode of delivery

VO

Prerequisites and co-requisites

None

Assessment methods and criteria

partial exam and final exam