LOMA 371 Outline

 

 

 

FLMI – Fellow, Life Management Institute

Loma 371 – Risk Management and Product Design for Insurance Companies

 

Overview

FLMI Level:

Fellow, Life Management Institute (FLMI) Teaches advanced insurance and financial concepts to build a deeper understanding of the insurance business. The five FLMI-level courses cover “big picture” business topics important to insurance professionals and managers. In general, these courses also cover quantitative and financial concepts in greater depth.

LOMA 371 Risk Management and Product Design for Insurance Companies Describes technical product design for life insurance and annuities and the current state of risk management in insurance companies.

 

Target Group

The Fellow, Life Management Institute (FLMI) program is a professional development program that provides industry-specific business education in the context of the insurance and financial services industry.

 

Program Content

  • Financial Orientation to Life Insurance Companies
  • Flows of Funds
  • Profit and Financial
  • The Importance of Profitability
  • The Risk-Return Trade-Off
  • Solvency Standards
  • Risk Management in Life Insurance Companies
  • Typical Risks That Insurers Manage
  • Risk Management Strategies
  • Asset-Liability Management
  • Enterprise Risk Management
  • Controlling Expenses and Risks in Operations
  • Overview of Company Expenses
  • Improving Operating Efficiency
  • Controlling Operating Expenses
  • The Employee’s Role in Supporting Operating Efficiency
  • The Challenge of Operational Risk
  • Managing Operational Risk
  • Financial Modeling in Insurance Companies
  • Components of Financial Models
  • Input Data for Financial Models
  • Modeling Approaches
  • Results of Financial Modeling
  • Analyzing Modeling Results
  • New Products and Product Development
  • Factors That Affect New Product Development
  • Product Development Activities
  • Technical Product Design, Product Introduction, and Product Monitoring
  • Technical Product Design
  • Product Introduction
  • New Product Monitoring, Evaluation, and Feedback
  • Incorporating Operating Expenses into Product Design
  • Describing Operating Expenses
  • Assigning Expenses to Products or Product Lines
  • Setting Margins for Risk and Profits
  • Incorporating Operating Expenses Charges into Product Designs
  • Time Value of Money Concepts
  • Basic Time Value of Money Concepts
  • Calculating Future Values
  • Calculating Present Values
  • Cash Values and Accumulation Values  
  • Insurance Company Investments  
  • Investment Growth
  • Rules-Based and Principles-Based Reserves
  • Investment Earnings and Accumulation Values
  • Mortality Tables and Assumptions
  • Creating Mortality Assumptions
  • Interpreting a Mortality Table
  • Types of Mortality Tables
  • Modifying Tabular Mortality Rates
  • Setting a Mortality Charges in Product Design
  • Managing Mortality Risk
  • Control Cycles
  • Product Design Controls
  • Underwriting and Underwriting Controls
  • Distribution Channels and Prescreening
  • Reinsurance and Retention Limits
  • Life Insurance Product Designs
  • Benefits in Life Insurance
  • Types of Premiums
  • Premiums for One-Year Term Life Insurance
  • Premiums for Multiyear Term Life Insurance
  • Premiums for Whole Life Insurance
  • Universal Life Insurance
  • Annuity Product Design
  • Annuity Death Benefits
  • Annuity Surrender or Withdrawal Benefits
  • Cost on Annuity Periodic Payments
  • Deferred Fixed Indexed Annuities
  • Deferred Variable Annuities
  • Variable Annuity Guarantee Riders
  • Dynamic Applications in Product Modeling
  • Modeling Assumptions
  • Applications for Stochastic Modeling
  • Assumptions for Future Market Interest-Rate Movements
  • Assumptions for Future Policyholder Behavior
  • Modeling Applications for Policyholder Behavior
  • Risk Management for Complex Products
  • Profitability Measures
  • Measuring Product Profitability
  • Measuring Enterprise Profitability

 

Duration

40 Training Hours

Calendar

Previous MonthMarch 2024Next Month
SuMoTuWeThFrSa
12
3456789
10111213141516
17181920212223
24252627282930
31

Mailing list

Enter your email to subscribe to TAG-Org Newsletter.