Insurance Management

Product management in personal insurance

Integrated course, 4.00 ECTS

 

Course content

The LV gives an overview of the main products of personal insurance and their calculation. Against the background of new framework conditions, a lot of space is given to product development. Above all, the focus is to be on the relationship between product features and risk or capital requirements, and thus an economic perspective.

The core contents comprise:
[1] Life insurance products: classic life insurance (endowment vs. death); unit-linked and index-linked insurance; modern variants of classic life insurance (e.g. combinations with unit-linked and index-linked products);
[2] health insurance products: Adverse selection problem and deductibles (signalling); product variants of health insurance;
[3] Accident insurance products and pricing
[4] Product development process (sales, actuarial office, back-office) Case studies;
[5] Product calculation based on individual characteristics.
Optional contents may include:
[6] Valuation of options and guarantees in life insurance;
[7] Comparative analysis of private health insurance systems abroad; e.g. examples Switzerland, USA.
[8] Ideas and problems in modeling mortality risk.

Learning outcomes

Graduates know the basic conditions for the product management of personal insurances, are able to comprehend and independently carry out price calculations in life, health and accident insurance and understand the interrelationships of rate calculation with regard to the insurance balance sheet.

Recommended or required reading and other learning resources / tools

References: BDV (hrsg., 2011): Lebensversicherungen und Betriebliche Altersversorgung, VVW. Nguyen/Romeike (2013): Versicherungswirtschaftslehre, Springer. Schwarz (2013): Praxisleitfaden Betriebliche Altersvorsorge, Springer. Wiesemann (2001): Kennzahlen in der Privaten Krankenversicherung. BDV (hrsg., 2010): Sachversicherungen für private und gewerbliche Kunden, VVW. BDV (hrsg., 2013): Schaden- und Leistungsmanagement - Sachversicherungen für private und gewerbliche Kunden, VVW. Nguyen/Romeike (2013): Versicherungswirtschaftslehre, Springer.
Academic journals: -

Mode of delivery

5 ECTS Integrated Course

Prerequisites and co-requisites

none

Assessment methods and criteria

ILV: final examination, immanent assessment in the practice part