The Introduction to ILA module will explore topics including insurance products, financial reporting, reserving, distribution and administration.
Section 1: Module Introduction and Role of the Actuary
Section 2: Products, Markets, and Company Type
Section 3: Insurance Company Financial Reporting Environment
Section 4: Product Development Process
Section 5: Basic Principles of Reserving
Section 6: Insurance Administration, Underwriting, and Claims
After you complete this e-course, you should be able to:
· Understand the role of actuaries in an insurance company context.
· Understand life insurance and annuity product types, benefits and product features; insurance market, consumer needs and distribution channels; and types of companies in the insurance space
· Assess the financial reporting environment including key stakeholders
· Understand the basic product designs, design process and actuarial cycle
· Understand the theory of reserving
· Understand the basic insurance administration, underwriting of insurance risks and payments of claims
Individuals engaged in the actuarial profession at any level looking to fulfill their CPD requirement.
Other professionals interested in or impacted by important topics related to the actuarial field.
The following books are referenced in this e-course. You'll be directed to appropriate readings within the context of the e-course. While these materials are not required, they're recommended to enhance the learning experience.
· Life, Health and Annuity Reinsurance, (Tiller and Tiller, 4th ed.)
· The Art and Science of Life Insurance Distribution (Bennett and Zultowski, 2014)
· Valuation of Life Insurance Liabilities (Lombardi, 5th ed.)
This e-course is for professional development. It's not intended to substitute for any professionalism requirements for the ASA, CERA or FSA credentials. If you wish to register for an e-learning module to attain a designation, please visit the e-learning module Web page.
Ultimately, it's an actuary's responsibility to make a reasonable, good-faith determination of what continuing education opportunities will enhance his or her ability to practice in a desired field. For more information on continuing education requirements, visit soa.org/CE.