bus5018f/f102 life insurance principles '23

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Decks in this class (37)

Life Insurance Products
Product life cycle,
Customer needs addressed by wol,
Customer needs addressed by wol
11  cards
4. Unit- and Index-Linked Products
Why do unit linked contracts resu...,
Risks from writing unit linked bu...
12  cards
5. Income Protection
What is ip,
Potential issues with writing ip ...,
Main customers
15  cards
6. Critical Illness
Definition of critical illness in...,
Definition of critical illness in...,
Three forms of ci
19  cards
7. Long Term Care Insurance
Meeting customer needs,
Examples of care needs in old age
15  cards
8. Asset shares
Asset share definition,
Asset share is the accumulation of,
Asset share alt definition
10  cards
9. With-profits surplus distribution I
Why do we expect surpluses to ari...,
Ways in which bonuses can be paid,
Key decisions when distributing s...
31  cards
10. With-profits surplus distribution II
Two other methods of bonus distri...,
Revalorisation definition,
How is surplus divide under reval...
17  cards
With profits (BONUS)
How can surplus be distributed,
How do the r
16  cards
11. The general business environment I
Why might consumers avoid buying ...,
What are the effects of consumers...,
Effect of mis selling
20  cards
12. The general business environment II
Overheads definition,
What are the types of expenses in...,
Main driver of risk and uncertain...
18  cards
11&12 The general business environment list
Factors to consider in general bu...
1  cards
13 . Risk I
Risk classifications,
Model risk definition,
Parameter risk definition
16  cards
14. Risk II
Business mix by nature and size o...,
Examples of changes in the nature...,
Mix of business by source as a so...
18  cards
15, Risk III
Aggregation of risk definition,
How can aggregated risk be assessed,
How must risk of loss be measured
7  cards
13-15 Risks list
What are the sources of risk hint...
1  cards
16. Unit pricing
Basic principle,
What are the components of the ne...,
Management box
21  cards
17. Actuarial funding
Purpose of actuarial funding,
Describe the principles of actuar...,
Relevant product design
8  cards
18. Models
Define a model point,
What factors would affect number ...,
List items you d expect to see in...
14  cards
19. Models
List uses of models,
Describe how model would be used ...,
What considerations might company...
17  cards
20. Contract design
What are some reasons to design n...,
What might have caused an awarens...
20  cards
21. Setting assumptions I
Explain how the assumptions for m...,
Explain how the investment return...,
Explain how the expense assumptio...
11  cards
22. Setting assumptions II
1  cards
23+ 24. Reserves I - NPV and GPV
What is the purpose of calculatin...,
What are the two methods of calcu...,
What are the bases that can be us...
14  cards
23 + 24. Reserves II - Negative non-unit reserves
How do negative non unit reserves...,
How do negative non unit reserves...,
How do you calculate negative non...
6  cards
23 + 24. Reserves III - Solvency capital
What is the purpose of surplus ca...,
What are the approaches to calcul...,
12  cards
25. Surrender values
Why are surrender values not paid...,
Why are surrender values not paid...,
What are the principles for calcu...
28  cards
26. Alterations
Why might ph alter their policy,
What are some examples of alterat...,
What is a boundary condition
27  cards
27. Cost of guarantees and options
Name examples of investment guara...,
What is the risk introduced by is...,
What is the liability created by ...
14  cards
28. Pricing health and care contracts
What are the two approaches to pr...,
Explain how multi state modelling...,
Explain how the claim inceotion d...
8  cards
29. Reinsurance I
What is reinsurance,
What are the types of reinsurance...,
Define co insurance on original t...
16  cards
30. Reinsurance II
List the reasons for reinsuring,
Why might the variance of claim p...,
What considerations must a compan...
15  cards
31. Underwriting
Define underwriting,
How can underwriting be,
List and define the 4 types of un...
14  cards
32. Policy data checks
What are the types of cjecks that...,
For recon checks what must the da...,
Which items of data can be reconc...
8  cards
33. Investment
What are the principles of invest...,
What is the liability outgo,
How can nature of liabilities be ...
21  cards
34. Further risk management
How can a company control its exp...,
How can insurer improve persistency,
How can options be controlled or ...
5  cards
35. Monitoring the experience
What are the two ways of monitori...,
Why do we monitor the experience,
Give examples of key investigations
14  cards

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bus5018f/f102 life insurance principles '23

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