Product Development Program (TBD)

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 : Jeonghun Park

Course Format : on-line

Course Duration : 

Study Period : 60days

Course Fee : $2500

Number of Lectures : 

Product Development Program (TBD)

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 : 

Course Format : on-line

Course Duration : 

Study Period : 60days

Course Fee : $2500

Number of Lectures : 

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

This course is designed for undergraduate and graduate students majoring in accounting or actuarial science, individuals interested in the fields of accounting and actuarial science, job seekers, and actuaries or professionals working in international or multinational insurance companies.

Course Category

1. Actuarial Fundamentals
[Open in 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 (TBD)
[Open February 2025]

- Practical Training on PV Generation Using Actuarial Tables
- Profit and Loss Analysis for New Products
- Development of Risk Rates

4. Assumption Management and Calculation

-Methodologies for assumptions of risk/policyholder behavior/expense allocation/economics
- Actuarial Assumption Management Strategies (Audit Trail)

5. Advanced IFRS 17 Actuarial Closing

- 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 January 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 coming]

- Biz Planning
- Selection of KPIs under IFRS 17 and K-ICS Standards
- Variable Product Hedging

10. Actuarial Software
[Open in 2025]

- Understanding Actuarial Software
- Pricing Practice
- Valuation Practice
- Internal Management Practice (Business Planning, ALM, etc..)

11. ERM (Enterprise Risk Managment)
[Open in 2025]

- Basic ERM Risk Management
- Insurance Risk Concept and Internal Model

12. Reporting

- Supervisor Report Preparation Method
- Automation System Example

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