Insurance Products and Their Distribution (5 CP)
Versicherungsprodukte und deren Absatz (5 CP)
Hon. Prof. Dr. Hartmut Nickel-Waninger
The objective of the lecture is to understand the fundamental concept of insurance as well as the delineation between individual and social insurance. Moreover, selected insurance products are to be introduced from the non-life (motor vehicle insurance, building insurance), life insurance and health insurance segments. The calculations used for the various insurance products are dealt with in detail. The sales policy of an insurance company represents a further focal point of the module. In the process, the sales strategies and sales policy instruments of insurance companies are presented, followed by a discussion of their respective benefits and drawbacks. Students are enabled to understand the fundamental concept of insurance along with the clear delineation between individual and social insurance systems. They acquire an overview of the large variety of insurance products available and receive an in-depth insight into selected insurance products from the non-life, life and health insurance segments. They develop a firm command of quantitative methods of insurance calculation and receive an insight into distribution policy of the insurance industry and are to understand the benefits and drawbacks of various distribution channels.