Risk management in insurance assignment 3
Analyse the role of risk management in
the insurance sector
Explain the insurance and intermediary sectors in a
global context.
Analyse the risks inherent in the insurance sector.
Discuss risk management in insurance
organisations.
Discuss the risks issues with intermediaries and
support organisations.
Evaluate stakeholder expectations for risk
management.
Analyse the elements of an effective risk
management framework in the insurance
sector
Explain the components of a typical risk
management process in the insurance sector.
Analyse the concepts of risk appetite and its uses in
the insurance sector.
Analyse the roles, responsibilities and priorities of
different management and functional groups.
Explain the purpose and use of policy, procedures
and systems in supporting a risk management
framework.
Discuss the rationale for risk management
regulation.
Explain the three pillars approach to risk
management.
Analyse the management of strategic
risks
Analyse the relationship between strategy, business
planning and risk management.
Analyse the risks associated with the strategies for
insurance organisations.
Evaluate the management of core
insurance risks
Discuss the difference between expected and
unexpected losses.
Evaluate the management of underwriting risk.
Evaluate the management of claims and reserving
risks.
Evaluate the use and application of reinsurance.
Evaluate the management of financial risk
Define financial risk in an insurance context.
Evaluate common techniques for managing financial
risk.
Evaluate the drivers for an insurance company’s
financial risk management strategy.
