By Sola Alabadan
The ILO’s Impact Insurance Facility and the College of Insurance and Financial Management in Nigeria have concluded arrangements to organise a training on “Proportionate risk assessment for insurance products”, in collaboration with Cenfri, on November 10 and 11 via Zoom.
According to the organisers, the participants will learn all about: the ways to identify key risks and the drivers of such risks; effective risk management tool that helps managing and mitigating risks; the main concepts involved in risk assessment, such as risk appetite, product risks and provider risks and performing a real initial risk assessment of an actual product of a provider.
Effective risk management is at the core of all successful insurance programmes, particularly inclusive insurance programmes.
This course introduces a risk assessment framework and tool that any stakeholder in the insurance industry can use to identify key risks and better understand the drivers of those risks. The tool also supports managing and mitigating the identified risks. It is envisaged that insurance industries will ultimately benefit from better risk outcomes through the use of this tool.
The course is suitable for insurance market practitioners, as well as insurance supervisory staff who are involved in assessing and managing insurance risk, whether related to inclusive insurance or traditional insurance products. It is best suited for mid-level and senior management.
During the first day of the training, participants will be introduced to the risk assessment tool and its components, as well as how to apply the tool to an inclusive insurance product.
The agenda for the second day are: Risk in a dynamic environment, Revision of concepts, as well as Action plan and peer learning.
The course facilitator is Nigel Bowman, the Product, Actuarial and Analytics Executive for Inclusivity Solutions, a technical services provider specialising in creating inclusive digital insurance markets.
