There are 3 General Insurance modules: Reserving and Capital Modelling Specialist Principles (SP7), Pricing Specialist Principles (SP8) and Specialist Advanced (SA3), and these comprise key assessments for candidates working in the field of general insurance.
The new curriculum builds upon material covered in the predecessor modules, with enhancements including covering changes applicable to the general insurance environment, the legislative and regulatory environment, the products sold, risks and risk management, pricing (SP8), and reserving and capital modelling (SP7). Key developments for SA3 include capturing a broad spectrum of examples of how general insurance business is conducted in different territories, in particular considering differences in regulation, solvency and capital requirements, and products sold in different markets.
The aim of General Insurance Pricing Principles (SP8) is to instil in successful candidates the ability to apply, in simple pricing analysis situations, the mathematical and economic techniques and the principles of actuarial planning and control needed for the financially-sound operation of general insurers.
It builds on material covered in earlier subjects, particularly Actuarial Statistics 2 (CS2) Financial Engineering and Loss Reserving CM2.
It is 3 hours and 20 mins-based assessment.
In the SP subjects, the approximate split of assessment across these three skill types is 25% Knowledge, 50% Application and 25% Higher Order Skills.
SP7 SSP (Self Study Programme)
₹10,000.00 – ₹15,000.00
Why SP7 from The Academic Junction??
SP7 Course Content
The aim of this General Insurance Reserving and Capital Modelling Specialist Principles subject is for students studying it to
develop the following skills:
Exam format:
3 hours and 20 minutes exam.
Scientific Calculator is allowed in exam. However, you can use only one of the models from the list below.
This can also be used for future exams.
1. Casio FX82 (ES/MS) (with or without any suffix)
2. Casio FX83 (ES/MS) (with or without any suffix)
3. Casio FX85 (ES/MS) (with or without any suffix)
4. Sharp EL531 (with or without any prefix or suffix)
5. Texas Instruments BA II Plus (with or without any suffix)
6. Texas Instruments TI-30 (with or without any suffix)
7. Hewlett Packard HP12c (with or without any suffix)
SP7 SYLLABUS
1 General insurance products and general business environment (20%)
2 Risk, uncertainty and regulation (15%)
3 Reserving (30%)
4 Capital modelling (17.5%)
5 Data, investigations, reinsurance and accounting (17.5%)
