Course Type
Online
Course Duration
245 Minutes
Learner Profile
Junior grade employees
Course summary
While working in General Insurance industry, knowledge of general insurance domain is essential to deliver the scope of responsibilities better. This course on 'Fundamentals of General Insurance' covers the fundamentals of insurance, legal principles of general insurance, documentation process in general insurance, risk analysis for premium rating, impact of other factors on premium rating. The course also deals with personal and retail insurance policies, commercial Insurance policies and miscellaneous insurance. The course covers claim settlement and also provides knowledge of the parts of motor vehicles which will help in knowing about the vehicles for better understanding of the general insurance concepts.
Learning outcome
By the end of the course, learner will be able to:
- Understand the history and evolution of insurance and its significance in handling risks.
- Explain insurance contract, documentation processes for general insurance.
- Understand how insurers manage the risk and learn about the evaluation of risk for deriving the final premium.
- Explain rate-making, tweaking of the base rate, dealing with physical hazards, premium guards, discounts in premium.
- Explain the other factors affecting the premium, types of personal, retail, commercial and miscellaneous Insurance policies and the process of claims settlement.
- Identify the parts of motor vehicles.
Modules
The course provides an understanding of the need for insurance, its evolution and its role in handling financial risks through insurance.
The course explains the importance of insurance contracts, their features and the association between the insurance provider and the customer.
The course deals with the documents required for insurance processing.
The course gives insight on how risk analysis for premium rating works and will help learner understand how the insurers handle risk
The course deals with the elements of premium rating such as rating of risk and how to arrive at the final premium.
The course deals with the factors that can affect the premium rating and provides knowledge about the risk factors associated for deciding the right premium.
The course deals in depth about personal and retail insurance and their types.
The course deals in depth about commercial insurance and its types.
The course deals in depth about miscellaneous insurance and its types.
The course gives an understanding of the claims procedure and the documents required for settling a claim.
The course explains the process of claim payment and post-claim settlement procedure in order to prevent fraudulent claims settlement.
To prevent any fraudulent claims the insurance professional must have sound knowledge about the motor vehicles and its parts. This module deals in depth about the parts of motor vehicles.