On Demand Courses

Inclusive insurance is more than cheap premiums. This market segment refers to individuals who traditionally have had limited access to insurance and a reduced understanding of its role in risk management or as a savings tool. This specific market doesn't simply require the same products at a lower premium; it demands a shift in mindset and in our business approach. This short course will delve into these aspects. The first section focuses on elements of product development. The second delves into more intricate subjects, including traditional market segments and government programs tailored for the B40 market. The final section presents a case study demonstrating the use of inclusive insurance within ESG coverage initiatives. The course syllabus includes:

1. Chapter 1: Product Development

2. Chapter 2: Microinsurance Business

3. Chapter 3: Inclusive Insurance

On Demand Courses

This course is based on a workshop conducted by Actuarial Partners on the 22^nd of August 2023. This one-day workshop dug down into key issues affecting the relationship between Takaful operators’ Shariah Council and Participants. The course syllabus includes:

a.      Chapter 1: Defining Surplus – Why Surplus Is Not Profit

b.      Chapter 2: Regulations on Surplus Distribution

c.      Chapter 3: Surplus Distribution for General Takaful

d.      Chapter 4: IFRS 17 Impact on Accounting Profits and Surplus Distribution

e.      Chapter 5: Connecting The Dots

f.       Panel Session: Strengthening The Bond Between Participants and The Shariah Advisory Council

On Demand Courses

This course is prepared based on the presentation done by Actuarial Partner’s Managing Director, Zainal Abidin Mohd Kassim during the IFoA Asia Conference held on the 25^th-26^th of September 2023 in Kuala Lumpur. The presentation focuses on the matter of poverty premium in the insurance industry where he discusses further into alternative perspectives to the pooling of risks, that of risk sharing rather than risk transfer. It considers how takaful can be nurtured to minimise the poverty premium. This short course also delves into the basics of pricing and product development, fairness concepts such as treating customers fairly and also delves into IFRS 17 on surface level. The course syllabus includes: 

a.      Chapter 1: Insurance and Takaful

b.      Chapter 2: The B40 Experience

c.      Chapter 3: Defining the Poverty Premium

On Demand Courses

This course provides insights into IFRS17. This course will be detailed in nature and provide examples for basic concepts such as CSM, measurement approaches, grouping of contracts, transition issues and initial technical decisions. The course syllabus includes:

a.      Chapter 1: Basic Concepts of IFRS 17

b.      Chapter 2: Further Issues in IFRS 17

c.      Chapter 3: Calculations Under IFRS 17

d.      Chapter 4: Comparing IFRS 17 to Statutory Regulations

On Demand Courses

This course will dive into the technical concepts of life actuarial management. Among the topics that will be covered are Solvency and Capital Management, Surplus Distribution, Investment Management for Actuaries, Risk Management and FCR. The course syllabus includes:

a.      Chapter 1: Solvency and Capital Management

b.      Chapter 2: Surplus Distribution

c.      Chapter 3: Investment Management for Actuaries

d.      Chapter 4: Risk Management

e.      Chapter 5: Financial Conditions Reporting (FCR)

On Demand Courses

This course will discuss various special issues for Takaful under IFRS17. This course builds on the material of the prior course on IFRS17. The course syllabus includes:

a.      Chapter 1: Basic Concepts of Takaful

b.      Chapter 2: Understanding the Technical Differences

c.      Chapter 3: Accounting for Takaful Under IFRS 4

d.      Chapter 4: Accounting for Takaful Under IFRS 17

e.      Chapter 5: Practical Considerations in Implementing IFRS 17 for Takaful

On Demand Courses

FATIHA introduces the basics of Takaful operations and provides an exposure to pricing and development methods, business management, and current issues. This course is specifically for people who don't specialise or come from an insurance background. The course syllabus includes:

a.      Chapter 1: Surplus Distribution and Qard in Takaful

b.      Chapter 2: Regulations and Risk Management in Takaful

c.      Chapter 3: Current Issues in Takaful

On Demand Courses

This course will dive into foundational technical concepts of life actuarial work, starting with an overview of reserving processes and practices including net premium valuation (NPV), followed by concepts related to Gross Premium Valuation (GPV). The course syllabus includes:

a.      Chapter 1: Overview of Reserving Practices

b.      Chapter 2: Gross Premium Valuation Reserve Calculation

c.      Chapter 3: Special Reserves and Complications in GPV Reserving

d.      Chapter 4: Profit Testing and Projections

On Demand Courses

This course will review a number of aspects broadly relating to product design and development, along with correlated technical issues the actuary may need to understand as a part of product design and development. The course syllabus includes:

a.      Chapter 1: Product Development

b.      Chapter 2: Product Pricing

c.      Chapter 3: Market Segmentation

d.      Chapter 4: Distribution Channels

On Demand Courses

FATIHA introduces the basics of Takaful operations and provides an exposure to pricing and development methods, business management, and current issues. This course is specifically for people who don't specialise or come from an insurance background. The course syllabus includes:

a.      Chapter 1: Basics of Takaful

b.      Chapter 2: Takaful Models

c.      Chapter 3: Setting Up Takaful Operations

d.      Chapter 4: Takaful Pricing and Product Development

On Demand Courses

a.      Chapter 1: Claim Liabilities

b.      Chapter 2: Premium Liabilities

c.      Chapter 3: Back-Testing

On Demand Courses

A comprehensive course to build up your actuarial expertise. Develop an in-depth understanding in the foundations of the work performed by an actuary such as the various types of data checks, experience analysis work, and actuarial control cycle. The course syllabus includes:

a.      Chapter 1: Introduction and Data Collection

b.      Chapter 2 – 4: Experience Analysis which covers Investment Return, Expense, Mortality, Loss Ratio and Lapse Study