Insurance Management

Customer Relationship Management and Market Analysis in the Financial Sector | Lecture/Practical (IL) | Coursecode: m250752106

CRM, Market and Customer Analysis in the Financial Sector

3.00

ECTS

2.00

SWS

The course presents methods of market and customer analysis, and discusses their use both in the exploration of new markets or new customers, and as a competitive advantage in the area of Customer Relationship Management. The core contents should include: [1] Typification and segmentation of customers, recognizing customer needs, analysis of the need for risk coverage; [2] Qualitative and quantitative-statistical methods of market and customer analysis; [3] Analysis of new customers or new markets: market and customer analysis to support sales initiatives such as market entry, exploration of customer groups or segments; [4] Analysis of existing customers: customer clustering, CRM to increase the cross-selling rate, estimation of purchase probabilities, Key Account Management; [5] Choice of sales strategies depending on customer needs and groups.

Customer Relationship Management and Market Analysis in the Financial Sector | Lecture/Practical (IL) | Coursecode: m250752105

Customer Journey Management

4.00

ECTS

2.00

SWS

The course provides a modern customer-oriented understanding of marketing financial services and products in the digital age. The core content includes, among other things: [1] Customer Experience Management [2] Process-oriented measurement of the Customer Experience [3] Customer Journey Phases [4] Touchpoint Identification, Generation, and Management [5] Customer Journey Models (e.g., AIDA, Moments of Truth, Aufgesang) [6] Customer Journey Mapping.

International Accounting and Quantitative Data Analysis | Lecture/Practical (IL) | Coursecode: m250752103

International Accounting IFRS/GAAP

4.00

ECTS

2.00

SWS

The course aims to lead students to a fundamental understanding of balance sheets, profit and loss statements, and cash flow statements that are prepared according to international guidelines such as IFRS/GAAP, and the connection points between them. The second part of the course addresses selected banking or insurance-specific provisions in the IFRS framework. The core contents include: [1] Accounting principles; International standards; [2] Structure of an annual report; [3] Key items in the balance sheet/profit and loss statement/cash flow statement; [4] Connection points between balance sheet/profit and loss statement/cash flow statement; [5] Typical structure of bank or insurance financial statements (balance sheet, profit and loss); [6] Important banking or insurance-relevant IFRS provisions (as of 10/2013 including IFRS 4, 7, 9 and IAS 32, 39); [7] Case Study: Representation of business transactions in the financial statements.

International Accounting and Quantitative Data Analysis | Lecture/Practical (IL) | Coursecode: m250752104

Quantitative Data Analytics

4.00

ECTS

2.00

SWS

In the course, stochastic fundamental concepts are introduced, and the advantages and issues of selected stochastic methods (normal distribution, Value at Risk, etc.) in practical application are demonstrated. The core contents include: [1] Random variables and risk; distribution and density; moments of a distribution; [2] Properties of the expected value and variance; [3] Normal distribution: central limit theorem, standardization of random variables; [4] Risk measures: volatility, Value at Risk; Expected Shortfall; [5] Non-symmetric or heavy-tailed distributions; [6] Aggregation of independent risks: e.g., individual risk model in a non-life insurance application, calculation of portfolio moments; [7] Random vectors; stochastic dependence; correlations; concept of copulas; [8] Empirical data analysis; [9] Moments of an empirical distribution; [10] Binomial distribution; binomial trees; [11] Random walks; Wiener processes.

International Financial Markets and Monetary Policy | Lecture/Practical (IL) | Coursecode: m250752102

Financial Market Regulation and Monetary Policy

5.00

ECTS

3.00

SWS

The course provides students with an understanding of regulatory measures in the financial system and presents an overview of current developments in the EU in this regard. The course aims to convey the central components of monetary theory and monetary policy with a focus on the European economic area. The core contents include: [1] Objectives of financial market regulation; regulation theory; [2] International regulatory systems; [3] Practice of banking regulation in the EU, insurance regulation in the EU, and regulation of financial markets in the EU; [4] European supervisory architecture; [5] Money: system and functioning, multipliers, supply and demand; [6] Inflation; the optimal inflation rate; [7] Instruments of monetary policy; [8] Functioning of central banks; balance sheets of central banks (ECB/FED); [9] Monetary policy in the context of cyclical measures; Taylor Rule; [10] Empirical effectiveness of monetary policy.

International Financial Markets and Monetary Policy | Lecture/Practical (IL) | Coursecode: m250752101

International Financial System

4.00

ECTS

2.00

SWS

The lecture introduces various financial markets and sheds light on the role of individual financial market participants. Additionally, students are equipped with an expanded understanding of information processing, risk, and interest rates in markets. Common financial instruments are explored in depth with a focus on practical aspects. The core contents are intended to include: [1] Financial markets and the role of financial market participants (especially banks and insurance companies); [2] Liquidity and market efficiency; Arbitrage; [3] Risk and interest rates; interest rate curve; central banks; [4] Financing markets: Fixed Income, Equity; [5] FX markets; [6] Derivatives: Forwards, Futures, Swaps, Options. Optional contents may include: [7] Market cycles and financial crises; [8] Trading; Clearing and Settlement.

Sustainable Communication and Personal Management Skills | Practical (UE) | Coursecode: m250752107

Personal Skills and Communication

2.00

ECTS

2.00

SWS

The course includes the development of methodological competencies and personal skills of the students through the use of a competency portfolio and discusses communication techniques and their targeted implementation by the students. The core contents include: [1] Personal Skills – Creation of a competency portfolio; [2] Theory of communication techniques and practical implementation; [3] Targeted application/communication training in small groups related to the banking and insurance sector (e.g., sales conversation, product presentation). Optional contents may include: [4] Alternative/creative presentation methods.

Sustainable Communication and Personal Management Skills | Lecture/Practical (IL) | Coursecode: m250752108

Sustainability Management and Reporting

4.00

ECTS

2.00

SWS

The course covers the topics of sustainability reporting and related regulations. The core contents include: [1] Fundamentals of sustainability management (introduction to ESG criteria, sustainable corporate governance, and regulatory requirements) [2] ESG risks and opportunities (assessment and management of environmental, social, and governance risks in the financial sector) [3] Sustainability reporting and standards (overview of GRI, SASB, TCFD, CSRD, and other reporting obligations) [4] Regulatory frameworks (EU taxonomy, SFDR, risks of greenwashing, and compliance requirements) [5] Measurement and management of sustainable corporate performance (KPIs for sustainability, ESG ratings, and due diligence) [6] Practical examples and best practices (successful sustainability strategies of banks, insurance companies, and financial service providers)

Business Strategy and IT Security | Lecture/Practical (IL) | Coursecode: m250752201

Analysis of Business Reports

4.00

ECTS

2.00

SWS

In this course, students should learn a fundamental and integrative understanding of the various components of corporate financial statements. The focus will be on the comparability of accounting metrics and ratios, distinguishing between commercial/industrial companies and banking or insurance companies (as a preparation for the in-depth controlling segment). The core contents include: [1] Qualitative analysis and information gathering from consolidated financial statements; [2] Comparability of consolidated financial statements or accounting leeway; [3] EBITDA; [4] Important metrics for commercial and industrial companies; [5] Important metrics for banking and insurance companies; [6] Case study on metrics. Optional contents may include: [7] Multiples Valuation; [8] DCF Valuation. Course language is optionally English.

Business Strategy and IT Security | Lecture/Practical (IL) | Coursecode: m250752203

Entrepreneurship and Corporate Strategy

3.00

ECTS

2.00

SWS

The course generally introduces business management and corporate strategy. Here, established methods for evaluating and innovating business models are presented. Selected case studies illustrate creative problem-solving and the structuring and drafting of goal-oriented business plans. The core contents should include: [1] Strategic management techniques: vision/mission/goal formulation, SWOT, etc.; [2] Analysis of supply/demand, environment, and trends; [3] Entrepreneurship as a process: recognition/evaluation/implementation; [4] Techniques for creative idea development; general methods for idea evaluation; methods for structuring and evaluating business ideas; [5] Innovation management in companies; [6] Drafting and evaluating business plans; [7] Advantages and synergies in consolidating multiple business sectors within one company.

Business Strategy and IT Security | Lecture/Practical (IL) | Coursecode: m250752202

IT Management & Cybersecurity

3.00

ECTS

2.00

SWS

Building on the preceding courses in this module, information and data management in banking and insurance companies will be addressed, focusing on administration, data protection, and IT requirements. The core contents include: [1] Fundamentals of information and data management; [2] Administrative and strategic tasks of information management; [3] Methods of administrative and strategic information management; [4] Data protection; [5] Specifics of IT in banks and insurance companies; [6] Current developments in FDL informatics; [7] Relevance of collected data for product design and pricing; [8] SAP in use at banks/insurances; [9] Cybersecurity.

Actuarial Risk Management Strategies | Lecture/Practical (IL) | Coursecode: m250752217

Actuarial topics and ALM in insurance

4.00

ECTS

2.00

SWS

In the course, the essential activities and tasks of an actuary in insurance will be developed. Likewise, the possibilities and challenges in the area of ALM will be conveyed. The core contents should include: [1] Overview of the role and tasks of an actuary (Pricing, Reserving); [2] Actuarial product development (including Profit-Testing); [3] Modern methods of reserve valuation (e.g., Chain Ladder); [4] Valuation of options/guarantees in insurance contracts; [5] Insurance technical cash flows as a basis for ALM in insurances; [6] Choice of investment portfolios in insurances; Regulatory framework; [7] Ideas in ALM in insurances (e.g., sources of volatility, Life vs. Non-Life, sensitivities, hedging, etc.). Optional contents can include: [8] Other modern actuarial topics (currently e.g., EEV/MCEV).

Actuarial Risk Management Strategies | Lecture/Practical (IL) | Coursecode: m250752218

Reinsurance and Alternative Risk Transfer

2.00

ECTS

1.00

SWS

The course discusses reinsurance as an important tool for risk and capital management in insurance. The core contents include: [1] Types of reinsurance contracts and their impact on the risk profile; [2] Reinsurance market; counterparty risk of the reinsurer; [3] Natural hazards: overview, modeling, and valuation principles; [4] Practical process of the relationship between primary insurers and reinsurers (including data exchange); [5] Consideration of existing reinsurance contracts in the balance sheet and in capital requirements (currently, for example, Solvency II); [6] Alternative risk transfer: securitization of insurance risks (including costs), Insurance Linked Securities, current market for ILS, and potential applications for ILS. [7] Typical design of reinsurance contracts; [8] Consequences of insolvency of the primary insurer or reinsurer; [9] Mortality swaps and mortality-linked securities.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752213

Product Management in Health and Accident Insurance

3.00

ECTS

1.50

SWS

The course provides an overview of the key products in health and accident insurance and their calculation. Against the backdrop of new framework conditions, a lot of space is allocated to product development. The core contents include: [1] Health insurance products: adverse selection problem and deductibles (Signalling); product variants of health insurance; [2] Accident insurance products and pricing; [3] Product development process (sales, actuarial, back-office) case studies; [4] Product calculation based on individual characteristics; [5] Comparative analysis of private health insurance systems abroad; e.g., examples from Switzerland, USA. [6] Ideas and problems in modeling risks. [7] Calculation and evaluation of insurance technical provisions.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752214

Product Management in Industrial and Commercial Insurance

3.00

ECTS

1.50

SWS

The course provides in-depth knowledge about the development, management, and marketing of insurance products for businesses. Course contents: [1] Fundamentals of industrial and commercial insurance [2] Commercial general liability insurance (scope of coverage, target groups, risk analysis, specifics for different sectors) [3] Property and business interruption insurance (protection of business buildings, inventory, and machinery, importance of business interruption policies) [4] Technical insurances (machinery insurance, erection all risks insurance, electronic equipment insurance, construction all risks insurance) [5] Transport and trade credit insurance (risk mitigation for international trade, transport policies, credit insurance models) [6] Product calculation and pricing (tariffing, loss-cost calculation, risk assessment, and underwriting) [7] Practical examples and case studies

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752212

Product Management in Life Insurance

3.00

ECTS

1.50

SWS

The LV provides an overview of the essential life insurance products and their calculation. In light of new conditions, a lot of space is given to product development. Particularly, the relationship between product features and risk or capital requirements, and thus an economic perspective, is intended to be the focus. The core contents include: [1] Life insurance products: traditional life insurance (survival vs. death); fund and index-linked insurance; modern variants of traditional life insurance (e.g., combinations with fund and index-linked products); [2] Product development process (sales, actuarial, back-office) case studies; [3] Product calculation based on individual characteristics. Optional contents may include: [4] Valuation of options and guarantees in life insurance; [5] Ideas and problems in modeling mortality risk.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752215

Product Management in Property Insurance

3.00

ECTS

1.50

SWS

The course provides an understanding of product design and the basics of premium calculation in property insurance. The core contents include: [1] Property insurance products, especially fire, storm, burglary theft, water damage, transport, car insurance; [2] Contract construction: understanding of bonus-malus systems; effects of deductibles; limits; motivation for self-insurance/self-protection; [3] Premium determination; required premium, costs, risk surcharge, multi-year premium calculation; [4] Calculation in product bundling, cross-selling, overall customer consideration, participation of sales in product success; [5] Handling of major damages, cumulative damages; contractual aspects; [6] Modern actuarial concepts: e.g., credibility approach, clustering, multivariate analyses, neural networks; [7] Risk-adequate pricing as an economic control tool.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752216

Product Management in Property Insurance

2.00

ECTS

1.00

SWS

The course conveys an understanding of product design and the fundamentals of premium calculation in property insurance. The core contents include: [1] Motor vehicle liability insurance [2] Operational liability insurance and product liability [3] Special coverage for specific professional groups [4] Legal expenses insurance [5] Business interruption insurance [6] Credit insurances [7] Premium determination; needs-based premium, costs, risk surcharge, multi-year premium calculation; [8] Handling of major damages, cumulative damages; contractual aspects. [9] Modern actuarial concepts: e.g., Credibility approach, clustering, multivariate analyses, neural networks; [10] Risk-adequate pricing as an economic control tool.

Actuarial Risk Management Strategies | Lecture/Practical (IL) | Coursecode: m250752217

Actuarial topics and ALM in insurance

4.00

ECTS

2.00

SWS

In the course, the essential activities and tasks of an actuary in insurance will be developed. Likewise, the possibilities and challenges in the area of ALM will be conveyed. The core contents should include: [1] Overview of the role and tasks of an actuary (Pricing, Reserving); [2] Actuarial product development (including Profit-Testing); [3] Modern methods of reserve valuation (e.g., Chain Ladder); [4] Valuation of options/guarantees in insurance contracts; [5] Insurance technical cash flows as a basis for ALM in insurances; [6] Choice of investment portfolios in insurances; Regulatory framework; [7] Ideas in ALM in insurances (e.g., sources of volatility, Life vs. Non-Life, sensitivities, hedging, etc.). Optional contents can include: [8] Other modern actuarial topics (currently e.g., EEV/MCEV).

Actuarial Risk Management Strategies | Lecture/Practical (IL) | Coursecode: m250752218

Reinsurance and Alternative Risk Transfer

2.00

ECTS

1.00

SWS

The course discusses reinsurance as an important tool for risk and capital management in insurance. The core contents include: [1] Types of reinsurance contracts and their impact on the risk profile; [2] Reinsurance market; counterparty risk of the reinsurer; [3] Natural hazards: overview, modeling, and valuation principles; [4] Practical process of the relationship between primary insurers and reinsurers (including data exchange); [5] Consideration of existing reinsurance contracts in the balance sheet and in capital requirements (currently, for example, Solvency II); [6] Alternative risk transfer: securitization of insurance risks (including costs), Insurance Linked Securities, current market for ILS, and potential applications for ILS. [7] Typical design of reinsurance contracts; [8] Consequences of insolvency of the primary insurer or reinsurer; [9] Mortality swaps and mortality-linked securities.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752213

Product Management in Health and Accident Insurance

3.00

ECTS

1.50

SWS

The course provides an overview of the key products in health and accident insurance and their calculation. Against the backdrop of new framework conditions, a lot of space is allocated to product development. The core contents include: [1] Health insurance products: adverse selection problem and deductibles (Signalling); product variants of health insurance; [2] Accident insurance products and pricing; [3] Product development process (sales, actuarial, back-office) case studies; [4] Product calculation based on individual characteristics; [5] Comparative analysis of private health insurance systems abroad; e.g., examples from Switzerland, USA. [6] Ideas and problems in modeling risks. [7] Calculation and evaluation of insurance technical provisions.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752214

Product Management in Industrial and Commercial Insurance

3.00

ECTS

1.50

SWS

The course provides in-depth knowledge about the development, management, and marketing of insurance products for businesses. Course contents: [1] Fundamentals of industrial and commercial insurance [2] Commercial general liability insurance (scope of coverage, target groups, risk analysis, specifics for different sectors) [3] Property and business interruption insurance (protection of business buildings, inventory, and machinery, importance of business interruption policies) [4] Technical insurances (machinery insurance, erection all risks insurance, electronic equipment insurance, construction all risks insurance) [5] Transport and trade credit insurance (risk mitigation for international trade, transport policies, credit insurance models) [6] Product calculation and pricing (tariffing, loss-cost calculation, risk assessment, and underwriting) [7] Practical examples and case studies

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752212

Product Management in Life Insurance

3.00

ECTS

1.50

SWS

The LV provides an overview of the essential life insurance products and their calculation. In light of new conditions, a lot of space is given to product development. Particularly, the relationship between product features and risk or capital requirements, and thus an economic perspective, is intended to be the focus. The core contents include: [1] Life insurance products: traditional life insurance (survival vs. death); fund and index-linked insurance; modern variants of traditional life insurance (e.g., combinations with fund and index-linked products); [2] Product development process (sales, actuarial, back-office) case studies; [3] Product calculation based on individual characteristics. Optional contents may include: [4] Valuation of options and guarantees in life insurance; [5] Ideas and problems in modeling mortality risk.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752215

Product Management in Property Insurance

3.00

ECTS

1.50

SWS

The course provides an understanding of product design and the basics of premium calculation in property insurance. The core contents include: [1] Property insurance products, especially fire, storm, burglary theft, water damage, transport, car insurance; [2] Contract construction: understanding of bonus-malus systems; effects of deductibles; limits; motivation for self-insurance/self-protection; [3] Premium determination; required premium, costs, risk surcharge, multi-year premium calculation; [4] Calculation in product bundling, cross-selling, overall customer consideration, participation of sales in product success; [5] Handling of major damages, cumulative damages; contractual aspects; [6] Modern actuarial concepts: e.g., credibility approach, clustering, multivariate analyses, neural networks; [7] Risk-adequate pricing as an economic control tool.

Product Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752216

Product Management in Property Insurance

2.00

ECTS

1.00

SWS

The course conveys an understanding of product design and the fundamentals of premium calculation in property insurance. The core contents include: [1] Motor vehicle liability insurance [2] Operational liability insurance and product liability [3] Special coverage for specific professional groups [4] Legal expenses insurance [5] Business interruption insurance [6] Credit insurances [7] Premium determination; needs-based premium, costs, risk surcharge, multi-year premium calculation; [8] Handling of major damages, cumulative damages; contractual aspects. [9] Modern actuarial concepts: e.g., Credibility approach, clustering, multivariate analyses, neural networks; [10] Risk-adequate pricing as an economic control tool.

Leadership Competence and Corporate Ethics | Lecture/Practical (IL) | Coursecode: m250752304

Corporate Governance & Compliance

3.00

ECTS

2.00

SWS

The course discusses compliance with laws, regulatory requirements, codes of conduct, best practice standards, and voluntarily followed guidelines within a company, with a focus on the banking and insurance sectors. The course also specifically addresses rules for good and sustainable corporate governance applicable in Austria. The core contents include: [1] Fundamentals and scope: laws, guidelines, regulation, codes of conduct; [2] Compliance management systems; [3] Standard Compliance Code of the Austrian banking industry (WKO) and the Austrian insurance industry (WKO); [4] Compliance codes in international comparison; [5] Austrian Corporate Governance Codex; [6] OECD Principles of Corporate Governance; European Corporate Governance Framework; [7] Corporate Governance specifics in the financial or insurance sectors.

Leadership Competence and Corporate Ethics | Practical (UE) | Coursecode: m250752303

Employee Leadership and Motivation

2.00

ECTS

2.00

SWS

The course includes the teaching of methods for employee leadership and motivation. The topics are first addressed generally and then specifically with reference to team leadership in a corporate environment. The core contents include: [1] Methods of employee leadership; [2] Motivation techniques; [3] Incentive systems; [4] Work-Life Balance; Optional contents may include: [5] Role plays, e.g., employee conversations; this behavior-oriented teaching methodology should in any case be accompanied by a suitable tool, e.g., reflection report; [6] Further development of the competence portfolio.

Process and Change Management in Digitalization | Lecture/Practical (IL) | Coursecode: m250752302

Change Management

2.00

ECTS

1.00

SWS

Building on the necessity of innovation as a sustainable success factor in a company, this course discusses the management, communication, and conflict resolution during the implementation phase of renewal processes. Concepts are illustrated with practical examples. Within the course, participants will develop and present case studies. The core contents include: [1] Conditions leading to change: e.g., technological innovation, scarcity of time and money, increase in complexity, globalization; [2] Coaching and development of employees; [3] Development of corporate organization; Process-oriented management; Filling key positions; Leadership with goal agreements; [4] Communication design during changes; [5] Conflict management; Handling resistance; [6] Organizational changes during mergers and acquisitions. Optional contents may include: [7] Measures to change corporate culture; [8] Selection and deployment of external consultants; [9] Discussion of case studies in change management.

Process and Change Management in Digitalization | Lecture/Practical (IL) | Coursecode: m250752301

Process Management and Digitalization of Business Processes

3.00

ECTS

2.00

SWS

The course generally conveys the importance of process-oriented thinking in the business environment and delves deeper into process topics in the banking and insurance sectors. Particular emphasis is placed on the quality assurance or optimization of business processes and their digitalization. The core contents include: [1] Definition, importance, and role of business processes; [2] Process-oriented thinking; process modeling; classification of processes in the process landscape; [3] Documentation possibilities for business processes; importance of knowledge retention in the company; [4] Overview of typical business processes in the banking sector; [5] Overview of typical business processes in the insurance sector; [6] Ensuring internal quality in banks/insurances; associated competitive advantages; [7] Six Sigma system. [8] Methods for digitalizing business processes.

Research seminar and expose | Seminar (SE) | Coursecode: m250752305

Research Seminar

3.00

ECTS

1.00

SWS

The course teaches quantitative methods that can be used in the composition of scientific papers, including in the fields of finance and insurance, such as when writing a master’s thesis. Assessment is based on a proposal for the master’s thesis (exposé) that needs to be developed. The core contents should include: [1] Data collection, data processing, data analysis; [2] Descriptive statistical methods for data description; [3] Hypothesis testing; [4] Regression analyses; [5] Development of a proposal for the topic/structure of the master’s thesis as part of the seminar paper. Optional contents may include: [6] Introduction to time series analysis.

Financial and Risk Management in Insurance | Lecture/Practical (IL) | Coursecode: m250752318

Controlling & Integrated Corporate Management in Insurance Companies

5.00

ECTS

3.00

SWS

The course helps students understand controlling as a strategic management tool in insurance companies. The core contents should include: [1] Functions and structure of the insurance controlling system; [2] Key performance indicator-based strategic management in insurance companies; [3] Product calculation and product controlling; [4] Capital allocation methods; Decomposition of corporate key performance indicators; [5] Key performance indicators for investments; [6] Objectives of insurance companies (including Shareholder Value vs. Stakeholder Value); Business models of insurance companies; [7] Profit and value-oriented management of insurance companies; [8] Company valuation of insurance companies (DCF, EVA, etc.); [9] Value-oriented management (key performance indicator tree, capital-based); [10] Responsibilities of management; Decision-making powers of management; Role of the owners according to the organizational form.

Financial and Risk Management in Insurance | Lecture/Practical (IL) | Coursecode: m250752319

Risk and Capital Management in Insurance Companies

4.00

ECTS

2.00

SWS

The course deepens the understanding of risk management as a core task in insurance companies and illustrates the relationship between risk and return in the core business. The main contents include: [1] Types of risks in insurance operations; [2] Accounting requirements, regulatory and organizational requirements; [3] Understanding the relationship between risk and capital; [4] Detailed knowledge of current regulation (Solvency II); [5] Development and application of a risk-based capital model (Solvency II); [6] Recognizing interconnections regarding risk and capital; [7] Risk and capital planning of insurance companies. Optional contents may include: [8] Management of operational and other risks; [9] Use of reinsurance/ILS in active risk management in insurance.

Innovation and Sales Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752317

Innovative business models in insurance

4.00

ECTS

2.00

SWS

In the course, business models of specific insurance products and sectors are discussed. The core contents should include: [1] Business models: distribution and risk strategy; [2] Specifics in the distribution of corporate health insurance and pension products; life insurances; corporate clients key account management; [3] Current developments in the insurance sector regarding innovative business models in personal insurance; [4] Case studies on innovative business models of composite insurers, single-line or specialty insurers, direct insurers; [5] Claims and benefits management in property and asset insurance; [6] Detection of insurance fraud cases and countermeasures; revenue-related aspects.

Innovation and Sales Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752316

Sales Management in the Insurance Sector

4.00

ECTS

2.00

SWS

The course covers essential components of strategic and operational sales management in insurance. The core contents include: [1] Sales policy and sales organization; multi-channel distribution; [2] Sales planning; [3] Strategic vs. Operational sales controlling; reporting and benchmarking, key performance indicators, target-actual analysis, control measures; [4] Incentive systems in sales (sales volume, compensation, commissions, etc.); [5] Legal framework (consumer protection, tax law, currently IMD II, Insurance Contract Act, etc.) and the impact of regulation. [6] Application of the course content in a case study. Optional contents may include: [7] Examples of possible problems in sales management; [8] Sales via the internet and new communication channels.

Innovation and Sales Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752317

Innovative business models in insurance

4.00

ECTS

2.00

SWS

In the course, business models of specific insurance products and sectors are discussed. The core contents should include: [1] Business models: distribution and risk strategy; [2] Specifics in the distribution of corporate health insurance and pension products; life insurances; corporate clients key account management; [3] Current developments in the insurance sector regarding innovative business models in personal insurance; [4] Case studies on innovative business models of composite insurers, single-line or specialty insurers, direct insurers; [5] Claims and benefits management in property and asset insurance; [6] Detection of insurance fraud cases and countermeasures; revenue-related aspects.

Innovation and Sales Management in the Insurance Industry | Lecture/Practical (IL) | Coursecode: m250752316

Sales Management in the Insurance Sector

4.00

ECTS

2.00

SWS

The course covers essential components of strategic and operational sales management in insurance. The core contents include: [1] Sales policy and sales organization; multi-channel distribution; [2] Sales planning; [3] Strategic vs. Operational sales controlling; reporting and benchmarking, key performance indicators, target-actual analysis, control measures; [4] Incentive systems in sales (sales volume, compensation, commissions, etc.); [5] Legal framework (consumer protection, tax law, currently IMD II, Insurance Contract Act, etc.) and the impact of regulation. [6] Application of the course content in a case study. Optional contents may include: [7] Examples of possible problems in sales management; [8] Sales via the internet and new communication channels.

Risk Management and Insurance Law | Project Thesis (PA) | Coursecode: m250752320

Risk Analysis & Coverage Concept

5.00

ECTS

1.00

SWS

The course provides in-depth knowledge on the systematic identification, evaluation, and mitigation of business risks through tailored insurance concepts. Contents of the course include: [1] Fundamentals of risk analysis in businesses [2] Identification and evaluation of business risks (methods of risk evaluation, scenario analyses, risk models) [3] Operational liability and financial loss risks [4] Property and business interruption risks [5] Transport and goods risks (transport insurance, trade credit insurance, securing supply chain risks) [6] Specialized insurances for businesses (coverage for product liability, environmental, technology, and construction risks) [7] Development and optimization of insurance concepts (risk analysis in businesses, design of individual insurance programs, deductibles, and reinsurance solutions)

Risk Management and Insurance Law | Lecture/Practical (IL) | Coursecode: m250752322

Sales regulation

2.00

ECTS

1.00

SWS

The course provides in-depth knowledge about the regulatory framework in the distribution of insurance products. The contents of the course include: [1] Fundamentals of insurance distribution regulation [2] IDD – Insurance Distribution Directive [3] Broker vs. agent distribution: Legal differences [4] Supervisory requirements in insurance distribution (FMA, EIOPA, rules of conduct) [5] Transparency and information obligations (consultation and documentation duties, product information sheets, ESG integration) [6] Consumer protection and compliance in distribution (prevention of misadvice, conflicts of interest, liability risks) [7] Compensation arrangements and commission models (commission transparency, fee-based consulting, EU-wide developments on commission bans) [8] Digital distribution models and RegTech in insurance distribution (automated consulting, robo-advisory, AI and compliance)

Risk Management and Insurance Law | Seminar (SE) | Coursecode: m250752321

Seminar on Insurance Law

2.00

ECTS

1.00

SWS

The course provides in-depth knowledge about the legal framework of the insurance industry with a special focus on current supreme court decisions. Course contents: [1] Fundamentals of insurance law [2] Insurance contract law and Supreme Court decisions (contract conclusion, duties, termination, case law disputes) [3] Duties and obligations in the insurance contract (notification duties, risk increase, breaches of duty, case law on denial of benefits) [4] Liability issues and claims settlement (insurer’s obligation to perform, rights of withdrawal, consequences of delay, current Supreme Court decisions on claims settlement) [5] Judicial and extrajudicial dispute resolution (insurance ombudsman, arbitration, Supreme Court decisions on dispute resolutions) [6] Current Supreme Court decisions and their impacts

Corporate Management and Financial Management 1 | Lecture/Practical (IL) | Coursecode: m250752401

Ethical, social, and environmental concerns in corporate management

3.00

ECTS

2.00

SWS

The course sensitizes students to the importance of ethical, social, and ecological concerns as an integral part of corporate management. Following a general section, there is a focus on banking or insurance-specific topics. The core contents should include: [1] Basic concepts of economic and financial ethics; [2] Example of an ethics code in the finance industry: CFA; [3] Corporate Social Responsibility (CSR): Fundamentals, integration into corporate culture, asymmetric information and communication, competitiveness, financial market, profit distribution, shared value; [4] Socially and environmentally conscious investing; Green Investments; Positive Investments; Community Investments; Impact Investments. Optional contents may include: [5] Practical examples of integrating CSR into companies; [6] Product design in the areas of Islamic Finance and Takaful Insurance. The language of instruction is optionally English.

Master's degree final phase | Seminar (SE) | Coursecode: m250752408

Master Seminar

2.00

ECTS

2.00

SWS

The seminar is structured to accompany the master’s thesis. Students present the results of their master’s thesis at an advanced stage and engage in critical discourse. The core contents should include: [1] Didactic preparation of scientific topics; [2] Presentation and discussion of the results of one’s own master’s thesis at an advanced stage; [3] Discussion and critique of other master’s theses in the field.

Master's degree final phase | Master's Thesis (MA) | Coursecode: m250752410

Master's Thesis

19.00

ECTS

0.50

SWS

In the master’s thesis, a topic assignable to the chosen specialization should be independently addressed in accordance with scientific standards. This involves identifying a practice-relevant problem, deriving appropriate research questions from it, and answering these using qualitative and/or quantitative research methods.

Master's degree final phase | Modul/Final Examination (FA) | Coursecode: m250752409

Master's examination

2.00

ECTS

0.00

SWS

Masterprüfung

Corporate Management and Financial Management 4 | Project Thesis (PA) | Coursecode: m250752407

Business Simulation Insurance

2.00

ECTS

1.50

SWS

In the context of the course, students take on the role of the board of directors of a bank in a computer-based business simulation and make important strategic and operational decisions. In doing so, participants gain the following competencies: [1] Understand the overall management of an insurance company [2] Know the interrelationships of the entire insurance technology for various insurance products (liability, legal protection, and accident insurance) [3] Learn to make management-oriented decisions in an insurance company (taking into account a competitive situation) [4] Understand the importance of investment in the insurance business [5] Know the significance of reinsurance in the overall management of the insurance company [6] Understand the importance of overall economic development for the respective insurance company or for the entire insurance industry.

Corporate Management and Financial Management 4 | Project Thesis (PA) | Coursecode: m250752406

Insurance Case Studies

2.00

ECTS

1.00

SWS

During the course, students work on case studies from the field of insurance economics. The selection of case studies to be worked on is based on the current challenges of the insurance industry and is particularly dedicated to the development of solution-oriented strategies. The contents of the case studies may include: [1] Insurance operations (esp. internal business processes) [2] Sales and marketing [3] Further development and innovation of business models [4] Product innovations [5] Regulatory issues [6] Changed market conditions [7] Human Resources Management [8] Corporate strategy.

Corporate Management and Financial Management 4 | Project Thesis (PA) | Coursecode: m250752407

Business Simulation Insurance

2.00

ECTS

1.50

SWS

In the context of the course, students take on the role of the board of directors of a bank in a computer-based business simulation and make important strategic and operational decisions. In doing so, participants gain the following competencies: [1] Understand the overall management of an insurance company [2] Know the interrelationships of the entire insurance technology for various insurance products (liability, legal protection, and accident insurance) [3] Learn to make management-oriented decisions in an insurance company (taking into account a competitive situation) [4] Understand the importance of investment in the insurance business [5] Know the significance of reinsurance in the overall management of the insurance company [6] Understand the importance of overall economic development for the respective insurance company or for the entire insurance industry.

Corporate Management and Financial Management 4 | Project Thesis (PA) | Coursecode: m250752406

Insurance Case Studies

2.00

ECTS

1.00

SWS

During the course, students work on case studies from the field of insurance economics. The selection of case studies to be worked on is based on the current challenges of the insurance industry and is particularly dedicated to the development of solution-oriented strategies. The contents of the case studies may include: [1] Insurance operations (esp. internal business processes) [2] Sales and marketing [3] Further development and innovation of business models [4] Product innovations [5] Regulatory issues [6] Changed market conditions [7] Human Resources Management [8] Corporate strategy.