Introduction: Insurance Operations

• Origins and development of the insurance industry; • Structure and agents in the Austrian and international insurance markets • Definition of insurance and insurable risks • Organisational forms, business areas and sectors • Functions of insurance enterprises; • Insurance products • Delineation of private insurance companies from social insurance in Austria • Fundamentals of premium calculation • Underwriting risks for insurances • European and international risk management standards, and risk policy insurance enterprises

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Farny (2011) Versicherungsbetriebslehre, VVW, 5th edition.

Planned learning activities and teaching methods

Lecture, discussion

Assessment methods and criteria

Written final exam (based on set questions)

Prerequisites and co-requisites

None

Infos

Degree programme

Banking and Finance (Bachelor)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

German

Curriculum

Full-Time

Academic year

2021

Semester

2 SS

Incoming

No

Learning outcome

After successful completion of the course, students can • describe the business administration aspects in insurance • outline the development of the insurance industry • delineate insurable risks from the general risk concept • classify the various operational functions in the insurance industry • highlight the special nature of insurance products offered by private insurance companies, contrast them with, and distinguish them from the services offered by social insurance • classify the function of risk management in insurance companies, and explain the most relevant international and European general supervisory conditions

Course code

0229-19-01-VZ-DE-25