Certificate in Insurance (Life & General) for Data Scientists

This programme introduces learners to the following:

Why do we insure?
What is Risk?; What is Insurance?; brief history of insurance; peril and hazard; financial value; insurable Interest; frequency and severity of claims; risk pooling; specific/fundamental risks; fortuitous loss; the benefits of insurance

Principals of Insurance
Indemnity; Ethical Considerations; Insurable Interest ; Utmost Good Faith; Proximate Cause; Contribution; Subrogation

The Insurance Industry in Ireland and Internationally

Overview of the market (both life and non-life business); how the market works (Ireland, EU and global dimensions) and the internationalisation of the insurance market. The role of Insurance Intermediaries; the role of re-insurance companies; the insurance market cycle; and
the ongoing evolution in the design of insurance products and the analytics tasks involved in designing these.

Data Analytics

– Applied to the Insurance Industry Types of data; cleaning; summarising and visualising data; data analytics techniques for the insurance world; predictive modelling; loss modelling, catastrophe modelling and dealing with large losses in data analysis; gaining insights from an insurance data set; presenting the insights and assessing their strategic value to insurers; presentation of insights and data analytics outcomes to a wider (non-data analyst) audience; identification of trajectories for future data analysis /future data needs or gaps; opportunities and challenges; behavioural economics and bionic underwriting; successful implementation of data science in the organisation.

Who is this programme designed for?
The programme is designed for data science graduates seeking to work in the insurance industry and are seeking a better understanding of Life and general insurance, its role in the economy and roles of parties involved in managing, organising and leading data understanding in an innovative organisation.

Graduates of the certificate can progress to On completion, most graduates will enter or continue employment in the insurance industry or possibly continue as a postgraduate researcher. There is a strong and growing demand for the transversal skills in Insurance and Data Anayltics. This has been evidenced in recent discussions with the Irish Insurance Institute through the Insurtech Network Centre (INC).

Fees: Free or heavily subsidised

Delivery: Blended

NFQ Level: 9

Start date: 5th September

Duration: 36 hours lectures delivered over one week