Business Continuity Management for Insurance Companies Training Course

Course Overview

Learning Objectives

• By the end of this training course, participants will be able to:
• Explain the principles and lifecycle of Business Continuity Management within insurance organizations.
• Identify critical insurance processes, services, dependencies, and recovery priorities.
• Conduct effective Business Impact Analysis for insurance operations.
• Assess business continuity risks across operational, financial, technological, regulatory, and third-party areas.
• Establish appropriate recovery priorities and recovery requirements for critical insurance functions.
• Develop practical continuity strategies for underwriting, claims, policy administration, distribution, finance, and customer services.
• Define Recovery Time Objectives and Recovery Point Objectives for critical systems and processes.
• Develop effective Business Continuity Plans and response procedures.
• Integrate business continuity with disaster recovery, crisis management, risk management, and operational resilience.
• Establish effective crisis communication and stakeholder notification arrangements.
• Assess third-party and outsourcing risks affecting insurance continuity.
• Develop business continuity strategies for cyber incidents, technology failures, and major operational disruptions.
• Design effective testing, exercising, validation, and plan-maintenance programmes.
• Establish business continuity governance, roles, responsibilities, and escalation mechanisms.
• Evaluate continuity performance through appropriate metrics, indicators, and management reporting.
• Develop an integrated business continuity and resilience framework tailored to an insurance organization.

Who Should Attend

Learning Outcomes

• Upon completion of the course, participants will be able to:
• Establish a structured Business Continuity Management framework for an insurance organization.
• Identify critical insurance services and processes requiring continuity protection.
• Conduct Business Impact Analysis and determine the consequences of operational disruption.
• Map dependencies between people, technology, facilities, suppliers, data, and business processes.
• Assess and prioritize continuity risks using structured methodologies.
• Establish appropriate recovery objectives and minimum service requirements.
• Develop continuity strategies for critical insurance operations.
• Prepare practical Business Continuity Plans and recovery procedures.
• Coordinate business continuity with IT disaster recovery and crisis management.
• Establish effective escalation and crisis communication arrangements.
• Assess the resilience of critical suppliers, outsourcing partners, and technology providers.
• Develop response strategies for cyberattacks, system failures, workforce disruption, and major insurance events.
• Design and conduct realistic continuity exercises and simulation scenarios.
• Evaluate test results and implement corrective actions to strengthen resilience.
• Monitor business continuity performance through indicators, reporting, and management reviews.
• Develop a sustainable insurance business continuity and operational resilience programme.

Course Outline