Academic Structure

This module uses managerial approach to address quantitative aspects in risk management and insurance. It first covers fundamental statistical concepts, then introduces quantitative elements such as risk quantification, pricing, loss development and risk-based capital. Students will learn how to calculate these quantitative elements through the use of Excel based computer software. Through complex case studies and review of industry reports, students will gain hands on experience in analyzing evolving quantitative issues in insurance.

The module studies advanced techniques in risk identification and reduction in insurance. It covers enterprise risk management and key processes in risk management. Such techniques are used to identify and manage risks (e.g. financial risk, underwriting risk, strategic risk, regulatory risk, geopolitical risk, governance risk, reputational risk). Students gain in-depth and practical knowledge in risk identification, risk reduction and loss control.

The module studies advanced techniques in risk transfer in insurance. It covers state-of-the-art techniques for the transfer of risk from the perspective of insurers. Students are to gain a broad view of insurers’ risk transfer landscape and to utilize various means of risk transfer.

This module provides students with the knowledge of regulation and compliance in insurance industry so that they can realise and accept the accountability in related decision-making process. It covers insurance regulatory framework, regional regulatory issues, essential components of compliance, as well as business ethics.

This module enables students to integrate the comprehensive knowledge in the Programme to conduct research in insurance-related topics. Students would select a contemporary research topic for investigation. Students may have to conduct interviews, develop case studies, formulate models and perform analysis of an insurance product or a business focusing on insurance-related issues. The research project needs to be well thought-out, well-written and professionally presented.

This module provides insights into sophisticated aspects of life and health insurance. It gives an in-depth analysis of the concepts, principles and practice of various product designs, underwriting and claims operations. Contemporary issues are also addressed. Students are developed to critically evaluate information, concepts and evidence and to furnish well thought-out responses and solutions.

This module provides an in-depth analysis of general insurance products and operations. Students learn the characteristics of marine, property, pecuniary, liability and financial lines insurances, and the concepts to critically evaluate the insurance policies. This module also covers the advanced methodology of underwriting and claims operations of the general insurance products. In addition, contemporary and local relevant issues of general insurance are discussed.

The module equips students with an in-depth understanding of investment, asset-liability management, and financial analysis techniques relevant to insurers. Students learn to manage insurers’ assets and critically analyse insurers’ financial statements. The module also provides insight into financial forecasting and dynamic scenario testing. Key topics in investment and financial analysis are examined.

This module has two objectives. One is to provide students with an advanced understanding of management to lead in an insurance-related environment. Managerial knowledge and skills, as well as selected tools including Balanced Scorecard are examined. The second objective is to investigate the complexities of insurance-related marketing processes.