Insurance Foundation Course : For It Professionals

Decoding Insurance, Insurance Basics, Introduction to Insurance

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