Insurance Operations Risk & Control Training Course

Course Overview

Learning Objectives

• Analyze the major operational risks affecting insurance organizations and their business processes.
• Identify operational risk sources, vulnerabilities, control weaknesses, and potential failure points.
• Assess the likelihood and impact of operational risks across critical insurance activities.
• Design effective preventive, detective, and corrective controls aligned with identified risks.
• Apply structured methodologies for risk identification, assessment, prioritization, and treatment.
• Evaluate the effectiveness of existing operational controls and identify control gaps.
• Develop practical risk and control matrices linking risks, processes, controls, and responsibilities.
• Strengthen controls across underwriting, claims, policy administration, collections, and customer service.
• Apply key risk indicators and performance measures to monitor operational exposure.
• Improve incident, loss-event, exception, and control-deficiency reporting processes.
• Strengthen coordination between operations, risk management, compliance, internal audit, and executive management.
• Develop practical action plans to enhance the insurance organization's operational risk and control environment.

Who Should Attend

Learning Outcomes

• By the end of the course, participants will be able to:
• Identify and classify key operational risks across insurance business processes.
• Conduct structured operational risk assessments for insurance activities.
• Develop risk and control matrices for critical operational processes.
• Analyze the root causes of operational incidents, errors, failures, and recurring control issues.
• Evaluate the design and operating effectiveness of existing internal controls.
• Identify control gaps, weaknesses, overlaps, and areas of excessive operational exposure.
• Design appropriate preventive, detective, and corrective controls.
• Establish key risk indicators for monitoring operational risk exposure.
• Strengthen controls across underwriting, claims, policy administration, collections, and customer service.
• Improve operational incident and loss-event reporting and escalation mechanisms.
• Enhance collaboration between business operations, risk management, compliance, and internal audit.
• Develop an actionable roadmap for strengthening operational risk management and control effectiveness.

Course Outline