Insurance Accounting, Reserving & Financial Controls Training Course

Course Overview

Learning Objectives

• By the end of this training course, participants will be able to:
• Explain the fundamental principles of insurance accounting and financial control.
• Analyze the accounting treatment of premiums, claims, commissions, and expenses.
• Evaluate insurance liabilities and technical reserving requirements.
• Analyze outstanding claims and incurred but not reported claims.
• Apply appropriate approaches to insurance reserving and reserve adequacy assessment.
• Assess the financial impact of changes in claims and reserve estimates.
• Analyze the relationship between reserves, profitability, capital, and solvency.
• Evaluate the accounting implications of reinsurance transactions.
• Apply effective reconciliation and financial close procedures.
• Identify key financial control risks within insurance operations.
• Strengthen segregation of duties and authorization controls.
• Evaluate data quality and its impact on accounting and reporting.
• Identify accounting errors, anomalies, and potential control weaknesses.
• Apply financial controls to support accurate and timely reporting.
• Develop monitoring and testing approaches for insurance financial controls.
• Develop an integrated framework for insurance accounting, reserving, and financial control improvement.

Who Should Attend

Learning Outcomes

• Upon completion of the course, participants will be able to:
• Apply core accounting principles to insurance transactions.
• Record and analyze premium, claims, commission, and expense transactions.
• Interpret insurance liabilities and technical reserve balances.
• Analyze outstanding claims and incurred but not reported claims.
• Assess the adequacy and movement of insurance reserves.
• Evaluate how reserving changes affect financial performance.
• Connect reserving results with profitability, capital, and solvency considerations.
• Analyze accounting and financial implications of reinsurance arrangements.
• Perform effective financial reconciliations and period-end closing activities.
• Identify financial control weaknesses across insurance processes.
• Design appropriate segregation of duties and authorization controls.
• Assess the reliability and completeness of financial and insurance data.
• Detect accounting inconsistencies, unusual transactions, and potential errors.
• Strengthen financial reporting controls and documentation.
• Develop control monitoring and testing procedures.
• Establish a practical framework for improving insurance accounting, reserving, and financial controls.

Course Outline