What you'll learn

Understand the concept of risk and risk management.
Familiarize with insurance terminology
Explore the Customer Journey
Look inside an Insurance Company (Functions/ Departments)
Understand the Role of Technology in Insurance Business
Familiarize with different types of insurance
Understand the key principles of insurance

Requirements

This is a beginner level course, prior knowledge is not required

Description

Welcome to the Insurance Foundation Course! This course is specially designed for IT professionals working on insurance projects. It offers a simple and structured way to understand key insurance concepts. If you've ever felt confused by insurance jargon and terminology, you're not alone. Many IT professionals struggle to bridge the gap between technology and insurance business. In this course, we will first understand the basics of Risk and Insurance. Here, we'll cover key topics like Risk, Risk Management, and how insurance works as a Risk Transfer mechanism. We'll also explore insurance as a Contract and as a Business, focusing on how it operates profitably. Then, we'll discuss common Insurance Terminology and key concepts.After that, we will explore the most important part—the Big Picture. Here, We'll start by looking at the Customer Journey, followed by taking a sneak peek inside an insurance company, to understand the roles and functions of different departments. We'll also see how Technology supports the smooth running of the insurance business process.After that, we'll build a big-picture understanding of insurance from the customer's perspective by exploring the Customer Journey. Then we take a look inside the insurance industry, explaining the roles and functions of different departments. This will help you work effectively with business teams. We'll also see how Technology supports the insurance business. This section will help you understand how business and technology work together to deliver a seamless experience to the customer.We'll also explore the Types of Insurance and how each of them addresses a specific type of risk. Finally, we'll touch on the Principles of Insurance, introducing terms like Indemnity, Proximate Cause, Contribution, etc. These are important to understand and may come up in business discussions.By the end of this course, you'll have a strong foundation in insurance. Let's get started!

Overview

Section 1: Introduction
Lecture 1 Introduction
Section 2: Risk and Insurance
Lecture 2 What is Risk?
Lecture 3 Risk Management
Lecture 4 Insurance - Risk Transfer
Lecture 5 Insurance - A Contract (Insurance Policy)
Lecture 6 Insurance - A Business
Section 3: Insurance Terminology - Part 1
Lecture 7 Policy Holder and Insured
Lecture 8 Peril, Hazard and Loss
Lecture 9 Claim
Lecture 10 Distribution Channel- Agent / Broker/ MGA etc
Section 4: The Big Picture
Lecture 11 Customer Journey
Lecture 12 Inside the Insurance Company - Part 1
Lecture 13 Inside the Insurance Company - Part 2
Lecture 14 Insurance Technology
Lecture 15 Actuary Vs Underwriter
Section 5: Types of Insurance
Lecture 16 Types of Insurance
Lecture 17 Line of Business and Product
Section 6: Insurance Terminology - Part 2 (Policy related terms)
Lecture 18 Quote Vs Policy
Lecture 19 Coverage
Lecture 20 Limit
Lecture 21 Deductible
Lecture 22 Premium
Section 7: Principles of Insurance
Lecture 23 Introduction
Lecture 24 Utmost Good Faith
Lecture 25 Insurable Interest
Lecture 26 Indemnity
Lecture 27 Proximate Cause
Lecture 28 Contribution
Lecture 29 Subrogation
Lecture 30 Loss Minimization
This course is specially designed for IT Professionals working on Insurance Projects,This course will also help people from insurance industry who are exploring opportunities to move to IT as Business Analysts

Homepage:

https://www.udemy.com/course/insurance-foundation-course/