Diploma in Finance (International Life Insurance )
Aims, Objectives and Learning Outcomes
The programme will provide a thorough understanding of the theoretical and practical issues relating to International Life Insurance. It will make available learning opportunities to allow students to develop the skills and competencies required to pursue a successful career in the area of International Life Insurance disciplines.
Aims
The programme aims are as follows:
- To develop a thorough understanding of the fundamental issues in international life insurance and their relevance to practice.
- To develop the ability for independent thinking through analysis, synthesis and evaluation of information, leading to solutions and actions.
- To develop the ability to apply theoretical understanding to observed information so as to define, analyse and provide solutions to issues in international life insurance.
- To develop the ability to communicate clearly and concisely.
- To promote understanding of the role and responsibilities of individuals and institutions in the international life insurance industry.
- To create an awareness of the continuing developmental nature of practice in the industry from an international perspective.
- To provide the appropriate academic foundation for further professional studies in the area
- To foster commitment to ethical practices.
- To build on the firm relations which have been formed with professional institutions and associations.
Objectives
On completion of this programme the graduate will:
- Be able to demonstrate an understanding of the key issues in the international life insurance industry.
- Be able to demonstrate the ability for critical thinking in the application of existing practice to provide solutions to problems in the industry.
- Be capable of implementing existing best practices in the generation of financial information in relation to international life insurance.
- Be able to demonstrate relevant transferable and interpersonal skills such as communications, self management, people management and information management.
The Programme Learning Outcomes are as follows:
Upon completion of this programme, the learner will be able to:
- Demonstrate a specialised knowledge across the area of international life insurance in areas such as marketing international life products, financial aspects, distribution channels, the regulatory framework as applied in a range of different markets
- Demonstrate an awareness of the current developments in the evolution of the international life insurance market, the needs of customers and buyer behaviour of individuals, fiduciary and corporate clients, understanding the basic investment structures, specific product variants and the generic customer needs they each meet.
- Demonstrate an ability to recognise the different distribution channels prevalent in the key geographic markets.
- Have a general technical awareness of the key steps in the effective promotion of International Life Insurance products in a Pan European environment.
- Assess the key buying influences on clients including the impact of personal taxation on the relative attractiveness of life insurance products.
- Be able to apply judgement to business problems related to the implications of international accounting standards, including reference to other accounting regimes for Irish based international life insurance companies.
- To use software to support decision making concerning the complexities in pricing international life insurance products.
- Demonstrate a technical understanding of what distributors look for when accessing investments through international life products
- Exercise judgement to produce an effective presentation relating to the promotion of a life insurance product for a fictional life company in a specific market.
- Identify the primary requirements under Irish GAAP for International Life Insurance companies operating in Ireland.
- Exercise judgement when selecting which distribution channels operate most effectively in key EU and international markets.
- Have a general awareness of the legislative and regulatory framework as it applied in Ireland by the Financial Regulator in Ireland.
- Demonstrate an ability to indicate how current practices, including those in their own organisations, might be changed to facilitate improved team performance in relation to international life insurance
- Demonstrate an application of team theory by working with others to respond to market needs in international life insurance.
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