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Chartered Insurance Institute
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Economics and business

Purpose

This unit is about enhancing understanding of the economic and business environment and its application to insurance. This unit would be of benefit to aspiring managers who wish to gain a greater understanding of the economic and business context in which they function.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus and may be examined. It is assumed that the candidate already has the knowledge gained from a study of the relevant sections of IF1 Insurance, legal and regulatory or P92 Insurance business and finance or equivalent examinations.

Principles of Takaful

Objective

To develop in the candidate:

  • a knowledge and understanding of the technical aspects of Islamic Insurance (Takaful) and its application in the global marketplace.

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • Nature and principles of Islamic insurance;
  • Shariah framework of Islamic insurance;
  • Operational framework of Islamic insurance;
  • Structure of Islamic insurance markets;
  • Constraints and opportunities for Islamic insurance;
  • Way in which ethical considerations of Islamic insurance are applied and practiced.

Advanced claims

Purpose

This unit is about enhancing understanding to ensure that claims services are run in an efficient
customer‑orientated way to satisfy their various stakeholders. This unit would be of benefit to those
that are highly experienced in providing claims services and that are in or aspire to senior claims and
management positions.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus
and may be examined. It is assumed that the candidate already has the knowledge gained from a study
of the relevant sections of IF1 Insurance, legal and regulatory and P85 Claims practice or equivalent
examinations.

Advanced insurance broking

Purpose

To provide knowledge and understanding of the management and operation of insurance broking organisations.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus and may be examined. It is assumed that the candidate already has the knowledge gained from a study of the relevant sections of IF1 Insurance, legal and regulatory, P05 Insurance law and P81 Insurance broking practice or equivalent examinations.

 

Marketing insurance products and services

Purpose

This unit is about enhancing the understanding of the marketing function and its application to insurance
business. This unit would be of benefit to those wishing to enhance their understanding of the development
and implementation of an effective marketing strategy.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus
and may be examined. It is assumed that the candidate already has the knowledge gained from a study of
the relevant sections of IF1 Insurance, legal and regulatory or equivalent examinations.

Advanced underwriting

Purpose

This unit is about enhancing understanding of the requirements of managing overall risk exposures and
arriving at appropriate pricing to ensure fair outcomes. This unit would be of benefit to those that are highly
experienced in underwriting and that are in or aspire to senior underwriting and management positions.

Assumed knowledge

Assumed knowledge may not appear in detail within the learning outcomes but forms part of the syllabus
and may be examined. It is assumed that the candidate already has the knowledge of the provisions
of Financial Services Authority regulation as covered in IF1 Insurance, legal and regulatory and P80
Underwriting practice or equivalent examinations.

Insurance corporate management

Purpose

At the end of this unit, candidates should be able to evaluate the following issues and concepts in relation to the management of an insurance organisation: 

  • Capital, capital adequacy and solvency rules, and their impact on insurance enterprises;
  • Management structures and organisational issues;
  • Corporate finance concepts in insurance;
  • Planning and control processes in insurance;
  • Roles of investment management and insurance regulation;
  • Challenges to insurance management.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of insurance organisations, finance and regulations as typically covered in IF1 Insurance, legal and regulatory or P92 Insurance business & finance or equivalent examinations.

London market insurance specialisation

Objective

To develop in the candidate the ability to conduct rigorous insurance or reinsurance related research that contributes to the body of London Market Industry knowledge

Summary of learning outcomes

1. Formulate a research question or problem in an area of interest that would be relevant to the London Insurance Market

2. Apply appropriate research methodology

3. Draft a research proposal

4. Conduct research for the dissertation

5. Write the dissertation

Purpose

To enable managers to understand the management of risk within the context of an insurance organisation.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the relevant sections of IF1 Insurance, legal and regulatory or equivalent examinations.

Purpose

To explore how advances in risk management lead to improved strategic decision making in an insurance context.

Assumed knowledge

It is assumed that the candidate already has the knowledge gained from a study of the relevant sections of IF1 Insurance, legal and regulatory or equivalent examinations.

Insurance market specialisation

Objective

To develop the ability to conduct rigorous insurance or reinsurance related research that contributes to the insurance industry knowledge.

Summary of learning outcomes

1. Formulate a research question or problem in an area of interest that would be relevant to the London Insurance Market

2. Apply appropriate research methodology

3. Draft a research proposal

4. Conduct research for the dissertation

5. Write the dissertation

995 Strategic underwriting

Purpose

At the end of this unit, candidates should understand the strategic context within which an underwriting function is managed.

Assumed Knowledge

It is assumed that the candidate already has a grounding in underwriting gained from study of M80 Underwriting practice or 960 Advanced underwriting, and knowledge of insurance organisations, finance and regulations as typically covered in IF1 Insurance, legal and regulatory, or M92 Insurance business and finance or equivalent examinations.

 

 

996 Strategic claims management

Purpose

At the end of this unit, candidates should gain knowledge and understanding of the strategic direction and strategic leadership of claims function.

Assumed Knowledge

It is assumed that the candidate already has grounding in claims gained from study of M85 Claims  practice or 820 Advanced claims, and knowledge of insurance organisations, finance and regulations as typically covered in IF1 Insurance, legal and regulatory, or M92 Insurance business and finance or equivalent examinations.

 

 

997 Advanced risk financing and transfer

Purpose

At the end of this unit, candidates should be able to understand the role that risk financing and risk transfer play in risk management.

Assumed Knowledge

It is assumed that the candidate already has grounding in insurance gained from study of IF1 Insurance, legal and regulatory and M92 Insurance business and finance or equivalent examinations.