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For more information about this programme, please contact:
Jessica Leong
Deputy Director
Telephone: (65) 6904 7249
Email: [email protected]
Science-Based Insurance Selling Programme
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.
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.
By the end of this course, participants will:
- Learn how scientific evidence can increase insurance sales.
- Explore the role of customer behaviour in insurance sales.
- Understand major risks and their impacts on insurance.
- Gain an understanding of risk and insurance premium mechanisms.
- Gain insights into new trends such as future climate change and its potential impacts.
- Engage in a technology and data-centric learning environment
- 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
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
| 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. |
Training dates
17 October 2024 (Apply here)
If an intake is fully subscribed, your application will be considered for the next available intake.
Dates and programme order are subjected to change depending on faculty/industry trainers' availability.
Venue: (TBC)
Lifelong Learning Institute (LLI)
11 Eunos Road 8, Singapore 408601
MRT: Paya Lebar Station
Nanyang Executive Education reserves the right to change the date, venue, and mode of delivery due to unforeseen circumstances or prevailing government advisory.
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.
The programme is designed and delivered in partnership with academia, domain experts, and seasoned industry practitioners.
Associate Professor (Practice) in Insurance, Actuarial Science and Risk Management,
Nanyang Business School, NTU Singapore, Division of Banking and Finance
Joey is a fully qualified actuary and certified financial risk manager with nearly two decades of experience spanning the insurance, reinsurance, and public sectors. Before he transitioned to academia, Joey held key roles across various functions within the insurance value chain, including actuarial services, product development, distribution, business management, and marketing.
His areas of passion and expertise include applied research in life and health risks, inclusive insurance solutions for vulnerable populations, retirement protection, climate risk and sustainability.
Division of Banking & Finance
Dr. Kamiya received his Ph.D. degree in Risk and Insurance from the University of Wisconsin-Madison in 2010 and his Master degree in Applied Mathematics from University of Illinois at Urbana-Champaign in 2003. Before starting his Ph.D study, Dr. Kamiya taught actuarial courses including Probability and Loss Model at Keio University and Tohoku University in Japan.
His research papers appear in Journal of Financial Economics, Journal of Risk and Insurance, North American Actuarial Journal, and Insurance: Mathematics and Economics. His current research topics include reputation, catastrophe risk management, and corporate risk management.