Fundamentals of Short-Term Insurance Short Learning Programme

This 5-week programme introduces participants to key concepts and principles in short-term insurance and provides an overview of the South African short-term insurance industry. Participants will explore theories in the psychology of insurance to understand consumer behaviour in relation to short-term insurance and the underlying causes of misconceptions relating to short-term insurance.

The programme and explores the regulatory environment and further introduce students to emerging trends in the industry including trends in insurance fraud. The final sessions of the programme include discussions on selected Ombud cases to highlight the duties of financial services providers and their representatives, the avenues to dispute resolution, and the functions of the Ombuds.

This programme covers the technical, theoretical, regulatory, and practical aspects of short-term insurance to help participant develop a well-rounded understanding of the short-term insurance industry.

The learning experience will enable participants to:

• Demonstrate an understanding of fundamental concepts in risk management and short-term insurance, the state of the South African short-term insurance industry, and the different types of policies available in the industry.
• Apply the theoretical principles relating to the psychology of insurance to explain consumer behaviour and understand the roots of misconceptions surrounding short-term insurance.
• Demonstrate an understanding of the regulatory environment and the various role players in the short-term insurance industry
• Evaluate risk management needs and recommend suitable risk management solutions.
• Demonstrate an understanding of the different avenues to dispute resolution and the functions of The Ombudsman for Short Term Insurance and Office of the Ombud for Financial Services Providers.
• Provide informed commentaries on Ombud rulings to demonstrate an understanding of the regulatory requirements of financial services providers and their representatives in the short-term insurance industry.

View short video that provides an overview of the programme here

Dates

The programme is scheduled to run five times in 2023. The commencement dates are as follows:
- 6 February 2023
- 8 May 2023
- 3 July 2023
- 4 September 2023
- 6 November 2023

Resources required

Students will need a laptop with data and internet access.

Cost

R8 500

APPLY

For more information, please contact Mpho Macheu via email to SFPL_Appl@ufs.ac.za