The objective of the course is to develop students’ understanding of the principles and practice of insurance and its role in risk management, the Turkish insurance sector, and the premium calculations in life & nonlife insurance branches.
The concept of risk; Risk management; Insurance branches; Premium calculations in life & nonlife insurance branches.
Vertical Tabs
Course Learning Outcomes
Learning Outcomes |
Program Learning Outcomes |
Teaching Methods |
Assessment Methods |
1) To be able to identify risk and apply risk management techniques, |
3,8 |
1,2,3 |
A |
2) To be able to explain the fundamentals of insurance, |
9,10,11 |
1,2,3 |
A |
3) To be able to identify and categorize insurance branches, |
5,10,11 |
1,2,3 |
A |
4) To be able to evaluate the Turkish Insurance Sector, |
5,9,10,11 |
1,2,3 |
A,D |
5) To be able to describe life annuities and their pricing strategies, |
3,8 |
1,2 |
A |
6) To be able to explain life insurance and premium pricing, |
3,8 |
1,2 |
A |
7) To be able to explain premium pricing in nonlife insurance branches. |
3,8 |
1,2 |
A |
Course Flow
Week |
Topics |
Study Materials |
1) |
Introduction to course |
Introduction |
2) |
Insurance and risk |
Textbook |
3) |
Fundamental legal principles |
Textbook, Online resources |
4) |
Analysis of insurance contracts |
Textbook |
5) |
General concepts in insurance |
Textbook |
6) |
Annuities |
Textbook |
7) |
Annuities calculation |
Textbook, Online resources |
8) |
Life annuities |
Textbook, Online resources |
9) |
Life annuities premiums calculation |
Textbook, Lecture Notes |
10 |
Midterm Exam |
|
11 |
Life insurance |
Textbook, Online resources, Lecture Notes |
12 |
Life insurance premiums calculation |
Textbook, Online resources |
13 |
Health Insurance |
Textbook, Online resources, Lecture Notes |
14 |
Automobile Insurance |
Textbook, Online resources, Lecture Notes |
15 |
Final |
|
Recommended Sources
Textbook |
Main Text: Rejda, George E.(2004), Principles of Risk Management and Insurance, 10th Edition, Addison-Wesley educational Publishers, MA. Parmenter, M. M.,(1999) Theory of Interest and Life Contingencies with Pension Applications, ACTEX Publication, Winsted. Behncke, H.,(2000), Insurance mathematics: A European Model, University of Osnabrück. |
Additional Resources |
Course web site, financial calculator, online resources, articles, lecture notes. |
Material Sharing
Documents |
Homework assignments, Articles. |
Assignments |
Research Topic: Investigation of Turkish Insurance Sector and Financial Structure of Insurance Companies |
Exams |
Midterm Exam and Final Exam |
Assessment
IN-TERM STUDIES |
NUMBER |
PERCENTAGE |
Mid-terms |
1 |
80 |
Quizzes |
|
|
Assignment |
1 |
20 |
Total |
|
100 |
CONTRIBUTION OF FINAL EXAMINATION TO OVERALL GRADE |
|
50 |
CONTRIBUTION OF IN-TERM STUDIES TO OVERALL GRADE |
|
50 |
Total |
|
100 |
COURSE CATEGORY |
Expertise/Field Courses |
Course’s Contribution to Program
No |
Program Learning Outcomes |
Contribution |
||||
1 |
2 |
3 |
4 |
5 |
||
1 |
To understand the core principles of finance and to be able to apply them both nationally and internationally. |
X |
|
|||
2 |
To effectively use contemporary information technologies and up-to-date financial instruments. |
X |
|
|||
3 |
To understand the ethics rules and the social responsibility mentality adopted by professional finance organizations and apply them in the decision-making process. |
X |
|
|||
4 |
To have the necessary background to be able to work in multicultural and multilingual environments. |
X |
|
|||
5 |
To be informed about markets and the factors affecting them, and to be able to analyze the developments in these markets. |
X |
|
|||
6 |
To recognize management tools and models specific to multinational companies and to be able to apply them where necessary. |
X |
|
|||
7 |
To understand the structure of the global economic system and to be able to analyze how new developments will affect this structure. |
X |
|
|||
8 |
To be able to use critical thinking ability in decision making process. |
X |
|
|||
9 |
To be able to transfer the leadership, teamwork and communication skills acquired to the lifelong learning process. |
X |
|
|||
10 |
To be able to predict the opportunities and problems that may arise under dynamic working conditions and manage these using analytical and creative approaches. |
|
X |
|
|
|
ECTS
Activities |
Quantity |
Duration |
Total |
Course Duration (Including the exam week: 15 x Total course hours) |
15 |
3 |
45 |
Hours for off-the-classroom study (Pre-study, practice) |
15 |
4 |
60 |
Mid-terms |
1 |
10 |
10 |
Homework |
1 |
10 |
10 |
Final examination |
1 |
15 |
15 |
Total Work Load |
|
|
140 |
Total Work Load / 25 (h) |
|
|
5.6 |
ECTS Credit of the Course |
|
|
6 |