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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Book a demo

Pricing

Ready to get started?

Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

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Overview of Insurance Market by Subsector & Products

Overview of Insurance Market by Subsector & Products

Ted Wainman

20 years: CA & educator

In the final video on his series on "Insurance Capital & Regulation", Ted explains us about the five key segments of the market which includes "Life & health", "Property & casualty", "Multi-line insurers", "Reinsurers" and "Insurance brokers".

In the final video on his series on "Insurance Capital & Regulation", Ted explains us about the five key segments of the market which includes "Life & health", "Property & casualty", "Multi-line insurers", "Reinsurers" and "Insurance brokers".

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Overview of Insurance Market by Subsector & Products

14 mins 11 secs

Key learning objectives:

  • Understand the three key categories of life and health products

  • Outline the 5 segments of the insurance market

  • Identify the primary P&C products

  • Identify the types of life insurance policies

  • Understand the main life-contingent annuities and investment products

  • Identify the types of accidents and health products

Overview:

The global insurance market premiums exceed five trillion dollars. So, what does the overall market look like?

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Summary

What are the 5 segments of the insurance market?

  • Life & health - Consists of companies providing primarily life, disability, indemnity or supplemental health insurance
  • Property & casualty - Consists of companies providing primarily property and casualty insurance
  • Multi-line insurers - Companies with diversified interests in life, health, property and casualty insurance
  • Reinsurers - Companies providing primarily reinsurance to insurers
  • Insurance brokers - Companies providing insurance and reinsurance brokerage services

What are the primary P&C products?

  • Automobile - It covers personal injury, automobile damage sustained by the insured and liability to third parties for losses caused by the insured
  • Homeowners insurance - Homeowners insurance  covers the house and other structures on the property, as well as personal possessions inside the house, against a wide variety of perils including windstorms, fire and theft. Homeowners insurance also covers additional living expenses (the cost of living elsewhere while the house is being restored after a disaster)
  • Workers’ compensation - It provides coverage for benefit payments to employees for work-related injuries, deaths and diseases, regardless of fault
  • Commercial multiple peril - It  is a package coverage including most property and liability coverage except workers’ compensation, automobile insurance, and surety bonds
  • Professional liability - It covers physicians, surgeons, dentists, hospitals, engineers, architects, accountants, attorneys, directors, and other professionals from liability arising from error or misconduct in providing or failing to provide professional service
  • Fire and allied lines - It provides coverage for fire, windstorm, hail and water damage (but not floods)
  • Inland marine - It  provides coverage for property that may be transported from one place to another, as well as bridges, tunnels and other instrumentalities of transportation
  • Ocean marine - It is coverage for ships, cargos (goods and merchandise), and freight - as well as workers, passengers and crews
  • Accident & Health - It covers loss by sickness or accidental bodily injury, including disability income insurance and accidental death and dismemberment insurance
  • Fidelity insurance - It  protects employers for loss due to embezzlement, misappropriation of funds or fraud by an employee
  • Surety insurance - It is a three-party agreement in which the insurer agrees to pay a second party or make complete an obligation in response to the default, acts, or omissions of an insured

What are the three key categories of life and health products?

  • Life insurance policies
  • Life-contingent annuities and investment products
  • Accident and health

What are the types of life insurance policies?

  • Term insurance
  • Whole life
  • Endowment insurance
  • Universal life
  • Variable life
  • Variable universal life

What are the main life-contingent annuities and investment products?

  • Life-contingent annuity
  • Investment contract
  • Fixed annuity
  • Variable annuity
  • Deferred annuity
  • Immediate annuity
  • Qualified annuity
  • Non-qualified annuity

What are the types of accident and health products?

  • Medical indemnity contracts
  • Disability income contracts

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Ted Wainman

Ted Wainman

Ted Wainman trained and qualified as an Associate Chartered Accountant (ACA) with Ernst & Young before joining JPMorgan on the Investment Management side of the business. He since has over 17 years of experience in designing, developing and delivering financial & business skills training workshops for over 275 clients in more than 35 countries.

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