Product Development Program
Instructor : Lakhyung Kim
Course Format : on-line
Course Duration :
Study Period : 180days
Course Fee : $5200
Number of Lectures : 40
Product Development Program
Through this course, participants will gain knowledge about real-world tasks related to product development in the insurance industry and will be supported in applying this knowledge through practical exercises.
Instructor : Lakhyung Kim
Course Format : on-line
Course Duration :
Study Period : 180days
Course Fee : $5200
Number of Lectures : 40
Introduction
This training module is designed to enable participants to systematically learn about the practical aspects of product development in the insurance industry.
The course covers everything from the basic concepts of product development to key processes and real-world examples actively utilized in the industry. Through this, participants are guided to understand the essential tasks and practical application methods related to insurance product development.
Additionally, the course provides hands-on practice to help participants directly experience how to apply their knowledge to real-world situations. Various scenarios are used to enhance problem-solving skills in the product development process and explore creative approaches.
Ultimately, this training focuses on building a solid foundation for participants to confidently engage in practical insurance product development tasks.
Target Audience
- Practitioners responsible for product development and product strategy at insurance and reinsurance companies
- Actuaries engaged in pricing, profit analysis, and profit and loss management of insurance products
- Practitioners involved in planning and operating insurance products but lacking actuarial knowledge
- Experts who need to understand product-related regulations (IFRS 17, K-ICS, Insurance Business Supervisory Regulations, etc.)
Course Category
1. Actuarial Fundamentals
[Open March 2025]
- Premium and Surrender Value Calculation using Actuarial Tables
- Understanding Actuarial Science
2. Company-wide Training
(IFRS 17 / K-ICS)
- Examples of IFRS 17 Accounting Treatments
- Introduction to K-ICS
- Direction of Profit and Loss Management under IFRS 17
3. Product Development
[Open April 2025]
- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance
4. Assumption Management and Calculation
-Methodologies for assumptions of risk/policyholder behavior/expense allocation/economics
- Actuarial Assumption Management Strategies (Audit Trail)
5. IFRS 17 Actuarial Closing Practice
- Advanced IFRS 17 Actuarial Closing Practices
6. K-ICS
- Overview of Risk Management in Insurance Companies
- Understanding Market Risk
- Understanding Interest Rate Risk
- Understanding Insurance Risk
- Insurance Risk Internal Model
7. Reinsurance
[Open in April 2025]
- Traditional Reinsurance
- Co-Reinsurance
- Excel-Based Reinsurance Profit and Loss Forecasting
8. Management under IFRS 17 and K-ICS Standards
-Direction of Profit and Loss Management under IFRS17
- ALM-Based Management
- MCEV-Based Management
-Risk Based Asset-Liability Portfolio Management
9. Managerial Accounting
[Open April 2025]
- Biz Planning
- Selection of KPIs under IFRS 17 and K-ICS Standards
- Variable Product Hedging
10. Actuarial Modeling Course (New Product Modeling)
[Open in 2025]
- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance
11. Actuarial Modeling Course (IFRS 17 Closing Practice)
[Open in 2025]
- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance
12. ERM (Enterprise Risk Managment)
[Open in 2025]
- Basic ERM Risk Management
- Insurance Risk Concept and Internal Model
13. Reporting
- Supervisor Report Preparation Method
- Automation System Example
14. Product Planning
[Open in 2025]
- Product Introduction
- Product Structure
- Market Understanding
- Risk Rate