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

2024

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