National Insurance Academy, Pune|Insurance Technical (Non-Life)
P666 | Programme on Enterprise Risk Management and Risk Based Capital (Non-Life)
Academic Year 2026-2027
Duration
3Days
Scheduled Dates
12 Oct 2026 - 14 Oct 2026
Background
The Indian insurance industry is experiencing significant turbulence as the risk landscape across a wide range of sectors has become increasingly dynamic, interdependent, and exposed to higher severity losses. This has led to the introduction of stringent regulatory frameworks such as Enterprise Risk Management (ERM), Risk-Based Capital (RBC), Asset Liability Management (ALM), and IFRS, making it essential for insurers to strengthen their ERM practices under this new Risk-Based Capital regime. This requires quantification of all major risks, appropriate capital allocation, and effective risk management.
With rising climate change impacts, natural catastrophe (NATCAT) exposures, and growing economic, financial, political, and technological risks, managing these challenges has become more complex for key stakeholders, including insurers, reinsurers, risk managers, brokers, and corporates.
More importantly, leaders in today's corporate environment must be capable of identifying and managing not only core insurance risks but also proactively addressing external risks arising from economic, environmental, strategic, political, operational, and technological changes
Learning Objectives
The Dynamics of Integrated ERM - including ISO 3100 & Updated COSO Framework
Own Risk Solvency Assessment (ORSA) and its implications on General insurance companies
Quantification of key risks and Allocation of Capital in accordance with the risk profile of the company.
Asset Liability Management (ALM)and its implications on Market and Liquidity Risks.
Risk Control & Mitigation Strategies, including Reinsurance and the ART mechanism to manage all the major risks comprehensively.
Key Contents
Integrated ERM Concept under the changing market scenario, including Risk-Based Solvency Capital.
New updated COSO Principles and ISO 31000 Framework
Identification and Assessment of Insurance Risks and their implications on General Insurance Companies
ERM and Business Strategy; Integration of Risk Models with the insurer's business strategy and plan.
Quantification of the identified risks in the context of RBC guidelines.
Development of a Risk Capital Model and Allocation of capital in accordance with the risk profile of the company
Asset Liability Management (ALM)and its implications on Market and Liquidity Risks
Investment Risks and Risk Mitigation Strategies
Management of Operational Risks, including Cyber Risks; Assessments and Mitigation Strategies, including Data Retrieval and Business Continuity Planning.
Social Media and Reputation Risk; Assessment and Implications on Insurance Business
Rising Exposures of Emerging Risks, including Catastrophic and Pandemic Risks; Risk Control and Mitigation Strategies, including Reinsurance and Alternative Risk Transfer Mechanism (ART) and Risk Pool.
Who Should Attend
Senior and Middle Level Executives / Officers (Scale II and above from all Departments) from General Insurance / Reinsurance Companies, Broking firms from National and International Markets.
