Insurance Management

Product management in property insurance

Integrated course, 1.50 ECTS

 

Course content

The LV provides an understanding of product design and the basics of premium calculation in property insurance.

The core contents include:
[1] Property insurance products, in particular fire, storm, burglary, tap water, transport, motor vehicle insurance
[2] Contract construction: understanding of bonus-malus systems; effect of deductibles; limits; motivation of self-insurance/self-protection;
[3] Premium calculation; demand premium, costs, risk surcharge, multi-year premium calculation;
[4] Calculation for product bundling, cross-selling, overall customer, participation of sales in product success;
[5] Treatment of major losses, accumulation losses; contractual aspects
[6] Modern actuarial concepts: e.g. credibility approach, clustering, multivariate analyses, neural networks;
[7] Risk-adequate pricing as an economic control instrument.

Learning outcomes

After attending the course, graduates will be able to distinguish and apply basic premium calculation methods for different property insurance policies. This knowledge is complemented by knowledge of the product development process and the factors to be considered in this process. The graduates will be able to describe selected methods of multivariate data analysis and assess their usefulness for rate design.

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

1,5 ECTS Integrated course

Prerequisites and co-requisites

none

Assessment methods and criteria

ILV: final examination, including immanent assessment in the practice part