Insurance (3 Years, B.Sc.)

NICOSIA/LIMASSOL

 Course Structure

  1. Diploma in Marketing Management (DMM)
  2.  Advanced Diploma in Insurance (ADIS)
  3. Bachelor in Insurance (BIS)
  • Successful completion of Diploma in Marketing Management (DMM) is a PREREQUISITE for registering to this two-year B.Sc. degree program.
  • On successful completion of Year 2, the Interim Advanced Diploma in Insurance (ADIS) is awarded.
  • On successful completion of Year 3, the B.Sc. Degree is awarded.

Year 1 (DMM - Prerequisite)

This course provides students with a good knowledge and a sound grasp of the basic concepts of marketing and their application in real life. Marketing Management is designed to serve as an introduction to the theory and practice of marketing. Students will improve their ability to develop effective marketing strategies and assess market opportunities, as well as design strategy implementation programs.
This module helps students to develop an understanding and awareness of the environment in which a business operates, particularly from the economic perspective. Students also will develop a range of skills to diagnose and solve problems. Additional this course will provide an overview of how economic factors affect internally and externally an organization.
This course ensures that, in the first year, students have a sufficient knowledge of company administration to think of Marketing as a cross-functional operation, a matter of company-wide involvement, rather than merely requiring expertise in specific marketing techniques. A knowledge of the functional parts of business administration in this course is to be treated as a fore-runner to the acquisition of skills in managerial application.
This course sets a minimum standard of the acquisition of skills in recognizing and expressing data in numerical terms for the solution of marketing problems. Experience has shown that, since much business information and market intelligence takes a numerical form, only a few problems can be dealt with effectively without an adequate understanding of statistics and statistical method.
This course enables students to recognize when legal aspects are involved in their work and to know how to communicate, with and utilize the services of legal advisers. Specialist ability is not sought but main attention should be paid to the sections of Contract, Trade Practices, Sales of Goods and Agency.
The course aims at developing the student’s communicative skills, fluency and critical thought. It entails reading and listening comprehension practice tests, exploring texts and motivating students to take part in conversations and discussions of various lengths and levels.

Year 2

This course will develop concepts such as time value of money, statistical analysis, information technology, and management of risk exposure. Topics include the fundamentals of risk, management of risks, insurer operations, and the regulation of insurance.
This course provides students with frameworks and skills to anticipate and address managerial challenges, both to recognize business external environmental opportunities and to mitigate business external environmental risks. This course also helps prepare managers to better understand how to engage these issues with stakeholders including investors, regulators, as well as customers and suppliers.
Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of information that is used by management to plan, evaluate, and control within an entity and to assure appropriate use of an accountability for its resources. It will enable students to analyses and provide financial-related information to the management of an organization as well as to firms’ external parties (i.e. stakeholders).
This course introduces students to the general principles and practices of managing insurances. Emphasis will be placed on analyzing various types of insurance products, including life, health, property, and liability insurance contracts, and how the insurance industry develops, manages, markets, and underwrites such contracts in a complex economic and regulatory environment.
This course explains the basic principles of motor insurance, looking principally at the private motor policy, but also highlighting the difference with other types of insurances, including commercial motor, fleet, motorcycle and non-standard wordings.
This course is designed to provide students with an understanding of human resource management (HRM) functions within organizations, including an appreciation of the roles of both HRM specialists and line managers in designing and implementing effective HRM policies and practices. It aims to give the learner a solid foundation concerning a variety of HR aspects including management of personnel from the recruiting stage to retirement.

Year 3

This module is designed to teach students about the fundamental role of property insurance and underwriting as well as different processes involved in decision-making with regard to underwriting. Also students will learn about personal and commercial insurance underwriting and the computer programs involved in assessing risk and liability.
The insurance broking module is designed to assist students to develop the technical knowledge and skills required to effectively manage a broking business and provide quality insurance services to clients.
This module in insurance is designed to assist students serve the needs of both life assurance and administration. Technical and theoretical skills and knowledge will be enhanced.
This module is designed to provide an introduction to the marine insurance and the world trade. This module looks at the actual insurable interest and examines key issues the world trade.
This course introduces the student to the practice of public relations. This course explains the importance of Public Relations in business by examining the types of media, corporate public relations functions and its application to the business environment. The entire scope of the field will be examined with emphasis placed upon areas of specialization, media relations, and simultaneous multi-public workings.
This course adds to students’ fundamental knowledge of business plan management by teaching them the details of the major contemporary tools and techniques that are used in planning, monitoring, and controlling business ventures/projects. The appropriate technologies are used to give the participant a “best practices” approach to the effective and efficient management of projects.

Course Objectives

The Insurance industry is a multi-billion dollar industry worldwide. Everyone needs insurance as it touches every aspect of modern life. By obtaining a degree in Insurance students will have the skills and knowledge required to enter the Insurance industry with confidence in order to achieve guaranteed success.

 In the first year, we give students a general but solid introduction into the exciting world of Business Management. The idea is that, if students do not understand the basic principles of modern management, how could they understand the complicated area of insurance? If, for example, they cannot interpret a statistical chart/graph, how can they appreciate the trends in the insurance industry? All subjects taught in the first year aim at aiding the student to shed light on the ‘grey’ areas in the rather demanding and competitive environment of the 21st century.

 The second year introduces the student to the world of Insurance. Quickly the student is faced with the problems of the industry while at the same time the endless opportunities for solutions. World Insurance and its developments are tackled and comparative studies of different countries are carried out. Naturally, the course embraces the Cypriot situation and analyses the developments of the last forty years. Simultaneously, the second year presents to the student the other basic functions of Insurance and general management in a far greater depth than the first year. Psychology and Sociology are covered in the subject of Behavioural Studies, while the financial structures of companies are investigated in the subject of Accounting.

Course Recognition

CIM is delighted to announce that its BSc Insurance (3 Years), has been reviewed and awarded accreditation by CII:
BSc Insurance exam units completed between 27th November 2014 and 26th November 2018 CII prior learning award –expires 26 November 2018
 
1. Economics
2. Marketing Management

 
25 non specific credits at Diploma level for recognition of general business content
 
3. Insurance Broking

 
Award I10 (Insurance Broking Fundamentals) 15 Certificate level credits
 
4. Private Motor

 
Award IF5 (Motor Insurance Products) 15 Certificate level credits
 
5. Property Insurance - Underwriting

 
Award of W01 (Award in General Insurance):
15 Certificate level credits

The CIM programme is the only BSc in Insurance programme that enjoys exemptions in Cyprus.

For more information please visit CII's website.

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