FSM305 - Insurance Operations

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Schools offering this subject
Last revision date Sep 30, 2019 12:06:03 AM
Last review date Dec 2, 2019 12:15:02 AM

Subject Title
Insurance Operations

Subject Description
Focus in this course is on specific business operations, including marketing, actuarial, underwriting claims, financial management, investments and compliance. Organizational structures within the insurance industry and the regulatory environment in which insurers operate are reviewed. Students will be prepared to write the LOMA 290 examination upon completion of this subject.

Credit Status
FSM305 is a required subject in the Bachelor of Commerce Financial Services Management degree program. FSM 200 is a prerequisite course.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Explain how life insurance companies must operate legally, the regulations with which they must comply and the need for ethical practice.

2. Describe how insurance companies are formed, and their organizational structure.

3. Assess how the industry identifies new customers, determines their needs and provides customer service.

4. Describe how companies develop, price and distribute products and support their distribution.

5. Explain the underwriting process and claims administration.

6. Describe how companies utilize accounting and financial reporting systems and manage their investments.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.