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Introduction
In today's competitive insurance and financial advisory landscape, success hinges on more than just traditional sales techniques. Advisors must adopt a holistic approach, and this often involves a data-driven and evidence-based approach that enhances risk understanding, customer relationships, and overall value.
Designed by Nanyang Business School and the Global Asia Insurance Partnership (GAIP), the Science-Based Insurance Selling Programme is a unique, one-day course specifically designed for insurance distribution professionals, including insurance agents, brokers, financial planners, and bancassurance officers. This programme aims to revolutionize insurance sales with an evidence-based approach that leverages cutting-edge data analytics and scientific insights to equip participants with the knowledge and tools needed to excel in the modern insurance market.
The programme is designed and delivered in partnership with academic experts, thought leaders, and seasoned industry practitioners.
Click here for the course outline, dates, fees and SkillsFuture Singapore funding
About Global Asia Insurance Partnership (GAIP)
The Global-Asia Insurance Partnership (GAIP) is a Centre of Excellence and a focal point for the global insurance industry, regulators and academia, to collaborate and deepen capabilities in risk management and insurance. It
is a tripartite partnership between the global insurance industry, regulators and policymakers, and academia to address the future development and needs of the insurance sector.
With Nanyang Technological University (NTU) as the main academic and talent development partner of GAIP, it will empower the insurance industry and regional policymakers to address both existing and new protection gaps in the region.
- Be equipped with scientifically validated techniques and strategies that go beyond traditional sales methods.
- Provide insights into leveraging data analytics and technology such as AI and Machine Learning to enhance sales effectiveness with data-driven strategies.
- Gain a holistic understanding of customer behaviour, decision-making process as well as other evidence-based approaches.
- Be familiar with science-based narratives and simple simulation tools to complement the sales process
| Key Learning Outcomes | |
|---|---|
|
Introduction and economics to Science-Based Insurance Selling |
Understand the challenges and critical issues in traditional insurance sales and how incorporating scientific evidence and data-driven insights can lead to increased sales with data-driven strategies. |
| Science about Life and Health in Singapore | Explore mortality trends, disease statistics, and the impacts of pandemics and climate change on health insurance and readiness for future changes. |
| Science about Future Climate in Singapore | Learn about greenhouse gas emissions, sea-level rise, temperature changes, and air pollution impacts, and how these factors affect insurance protections needs. |
| Science about Behaviours for Decision Making | Participate in interactive simulation games to understand customer behaviour and decision-making processes in insurance sales. |
| Risk and Price in Insurance | Gain insights into data analysis for risk assessment, insurance pricing for life and property, risk portfolio management, and the use of AI and machine learning. |
| Simulation Tools to Close Protection Gap | Utilize science-based narratives and simple simulation tools to assist in financial planning and closing protection gaps. |
| Challenges in Science-Based Sales | Engage in group discussions to identify and address challenges in implementing science-based sales strategies. |
This programme is suitable for all professionals involved in the insurance distribution and financial advisory business:
- Distribution managers of insurance companies
- Insurance agents, managers and directors
- Financial planners and brokers
- Bancassurance officers
Standard Course Fee: S$$1,200.00
Programme fee: S$1,200 (before GST)
Fees payable after SkillsFuture Singapore (SSG) funding:
| Programme Fee in SGD (Module 1) | ||||
|---|---|---|---|---|
| Fees BEFORE funding & GST |
Fees AFTER funding & 9% GST |
|||
| Singapore Citizens (aged 21-39) / PR (aged ≥21) 70% Funding* |
$1,200.00 | $392.40 | ||
| Singapore Citizens (aged ≥40) MCES1* - up to 90% |
$1,200.00 | $152.40 | ||
| SME-sponsored Singapore Citizens / PR ETSS2 - up to 90% |
$1,200.00 | $152.40 | ||
| International Participants without funding |
$1,200.00 | $1,308.00 | ||
* Applicable for both self-sponsored and company-sponsored participants.
1. For more information about the Mid-career Enhanced Subsidy (MCES)
scheme.
2. For more information about the Enhanced Training Support for Small & Medium Enterprises (ETSS)
scheme.
SkillsFuture Credit
On top of the above funding, Singapore Citizens, aged 25 and above and self-sponsored may use their SkillsFuture Credit to defray part of the nett course fee.
Participants do not need to contact SkillsFuture for funding application before course registration. NTU will facilitate the funding paperwork for both self and company-sponsored participants. Participants will be invoiced the nett amount after funding and GST.
Funding Requirements:
- Participant must achieve at least 75% attendance for the programme.
- Participant must complete and pass all assignments / assessments as assigned by the trainer.
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