Business Knowledge for IT in Insurance: A Complete Handbook for IT Professionals

0.0

"Business Knowledge for IT in Insurance" deals with the alignment of IT and business in Insurance industry as well as the Reinsurance industry. The idea behind this publication is to introduce IT professionals to the concepts of the Insurance and Reinsurance. The chapters in the book cover the following topics: Overview of Insurance; Types of Insurance products; Overview of Reinsurance; Recent trends in Insurance; Risk and Insurance; Business Processes in Insurance; Systems used in the Insurance industry; IT projects that can be executed in Insurance companies; and, much more. "Business knowledge for IT in Insurance" is an invaluable reference handbook for IT professionals. It is also useful for both undergraduate and graduate students in Information Technology - related degree programmes. Table of Contents Preface Acknowledgements ContentS Introduction 1. Overview of Insurance Introduction Definition of Insurance Definition of Indemnity Different Variations of Premiums History of Insurance Insurance Classifications The Global Insurance Market The World’s Largest Insurance Companies 2. Types of Insurance Products Introduction Life Insurance Non-life Insurance Market Segmentation Distribution Channels 3. Overview of Reinsurance Introduction Brokers vs Direct Writers Definition of Reinsurance Functions of Reinsurance Providers of Reinsurance Purchasers of Reinsurance Nature of Reinsurance Contracts Types/Forms of Reinsurance Benefits of Reinsurance 4. The Business Environment Introduction Environmental Factors Affecting the Insurance Industry Competitive Landscape Profile of Major Insurers around the World Rating Agencies Insurer Financial Strength Ratings 5. Trends in Insurance Introduction The Introduction of Solvency II Introduction of MiFID Enforcement of AML/KYC in Insurance Introduction of Islamic Insurance Popularity of Bancassurance Growth of the Insurance Securitisation Market Rise of Sovereign Wealth Funds (SWFs) Insurers Targeting the High Net Worth Market Segment 6. Business Processes in Insurance Introduction Role of Capital and Surplus Underwriting The Application Process Claims Administration Pricing and Product Development Brokerage 7. Risk and Insurance Introduction Definition of Risk in Insurance The Workings of Insurance Risk Classification Insurance from a Risk Perspective Theoretical Underpinnings of Risk in Insurance Featuresof Insurable Risk Limits on Policy Benefits The Role of the Actuary Risk Management in Reinsurance 8. Common Systems used in Insurance Introduction History of the IT Function in Insurance Legacy Systems in Insurance Profile of a System Other Systems 9. IT Projects Introduction Green IT Implementation of Thin-Client Computing Virtualisation Selection of the Right Virtualisation Technology Conclusion 10. Methodology, Skills and Tools Introduction Overview of Mainframe Technologies Methodologies Business and Systems Analysis Methods Testing Methods Tools Common IT Skills Required Soft Skills 11. Commonly Used Terminology Introduction List of Terms 12. The Future The Future: What does it hold for IT and Business in Insurance? Future Insurance Demand and Supply Trends Continued Financial Services Integration SWFs Investing in Insurance Firms Increasing Role of Technology in Insurance Emerging Insurance Centres – Spotlight on Bahrain Conclusion   Appendix Bibliography About the Bizle Brand Introducing Bizle.biz Introducing Global Real Estate Investment Series (GREIS) Other Titles in the Bizle Professional Series Useful Job Boards Index