Detailed Syllabus

Semester 1: Insurance Foundations

1. Principles of Risk & Insurance
   • Fundamental concepts: Risk pooling, adverse selection, moral hazard
   • Case: Lloyd's of London evolution vs. Lemonade's disruptive model
2. Insurance Products & Markets
   • Life vs. non-life insurance structures
   • Emerging products: Cyber insurance, pandemic coverage
3. Actuarial Science Basics
   • Probability theory for underwriting
   • Excel modelling for premium calculation
4. Regulatory Framework
   • IRDAI (India), NAIC (US), Solvency II (EU) comparisons
   • Anti-money laundering in insurance
5. Insurance Accounting
   • Reserving techniques
   • IFRS 17 implementation challenges

Semester 2: Core Insurance Operations

1. Underwriting & Risk Assessment
   • Property risk inspection (ISO Fire Defence Ratings)
   • Health underwriting innovations (wearable tech data)
2. Claims Management
   • Fraud detection using AI (Shift Technology case study)
   • Catastrophe claims handling (Florida hurricanes)
3. Reinsurance Strategies
   • Treaty vs. facultative reinsurance
   • Alternative risk transfer (CAT bonds, ILS)
4. Investment Management for Insurers
   • ALM (Asset-Liability Matching) strategies
   • Regulatory constraints on investment portfolios
5. Digital Insurance Ecosystems
   • API integrations for distribution
   • Embedded insurance (Tesla's usage-based auto insurance)

Semester 3: Specializations

Track 1: Insurtech & Innovation

1. Blockchain in Insurance
   • Smart contracts for parametric insurance
   • Fraud prevention with distributed ledgers
2. AI Applications
   • Chatbots for customer onboarding
   • Computer vision for auto claims (Tractable AI)

Track 2: Global Risk Management

1. Marine & Aviation Insurance
   • Hull war risk clauses
   • SpaceX satellite insurance challenges
2. Emerging Market Insurance
   • Microinsurance models (Philippines mobile-based products)
   • Climate risk coverage in developing nations

Electives (Choose 2):

• Health Insurance Innovations (Value-based care models)
• ESG in Underwriting (Net-zero underwriting frameworks)
• Cyber Risk Modelling
• Insurance Marketing & Distribution (Bancassurance vs. D2C)

Semester 4: Professional Immersion

1. Capstone Project
   • Design parametric flood insurance for Bangladesh
   • Create go-to-market strategy for pet insurance startup
2. Industry Internship
   • Options:
     • Underwriting at Swiss Re
     • Product development at Ping An
     • Insurtech accelerator programs
3. Certification Prep
   • Chartered Insurance Professional (CIP)
   • FRM (Financial Risk Manager) modules
4. Thesis Options
   • "AI Bias in Life Insurance Underwriting"
   • "Regulatory Sandboxes for Insurtech"

Innovative Learning Components

• Risk Simulation Labs
  • Underwriting catastrophe scenarios (California wildfires)
  • Claims adjudication role-plays with VR
• Insurtech Hackathons
  • 48-hour challenges with partners like AXA Next
• Global Insurance Forums
  • Virtual sessions with:
    • Munich Re climate risk experts
    • Bermuda Monetary Authority regulators