CourseInsurance, Risk & Actuarial Data Applications open

Course in Benchmarking Techniques in Insurance Pricing

Online 300-hour course in benchmarking techniques in insurance pricing. 6 modules covering Law 15/2007 on the Defence of Competition, Article 101 TFEU (agreements restricting competition) and Python (web scraping with Scrapy). Assigned tutor and open enrolment.

Duration300 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute certificate

Course in Benchmarking Techniques in Insurance Pricing — studying from Canada

Canada has a major insurance and financial services sector, with headquarters and operations concentrated in Toronto and Montréal. Insurers and reinsurers rely on actuarial science, risk modelling and data analytics for pricing, reserving and capital management. Federal and provincial regulators oversee solvency, conduct and consumer protection. Engineers and data specialists with risk and modelling skills find roles at insurers, brokers, consultancies and regulatory bodies.

Fees for Canada: C$852 (Canadian dollar), with instalments and employer sponsorship available.

Relevant bodies in Canada

  • Office of the Superintendent of Financial Institutions (OSFI)
  • Canadian Institute of Actuaries (CIA)
  • Financial Services Regulatory Authority of Ontario (FSRA)
  • Insurance Bureau of Canada (IBC)

Typical roles

  • Actuarial Analyst
  • Risk Analyst
  • Data Scientist – Insurance
  • Reserving Analyst

Questions from Canada

Is this programme recognised by professional bodies in Canada for insurance and actuarial data work?

SEIUM's qualifications are private, not official state degrees, and are not accredited by a national body in Canada. Actuarial credentials in Canada are governed by the Canadian Institute of Actuaries, and actuarial practice is regulated under provincial and federal rules. A private engineering qualification does not confer these credentials, so confirm recognition with employers or the relevant body yourself.

How might this qualification be used by employers in Canada in insurance or risk roles?

Insurers, banks and risk teams in Canada may value engineering-based data analysis and risk modelling skills, but how they regard a private qualification is their decision. Hiring in these sectors often depends on experience, professional exams and specific credentials. Your final project can serve as evidence of applied skills, though it does not guarantee any role or salary outcome.

What are the practical demands of studying this online from Canada?

Study is fully online and in English, and no student visa is required if you study from home. Programme lengths range from 300 to 1,900 hours, so consider how many hours a week you can commit alongside work. You are assigned a technical tutor for support. Fees can be paid in instalments, and some students receive employer sponsorship, which is possible but not guaranteed.

Virtual lab · try it before you enrol

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Learning outcomes

What you will be able to do

01

Define what to compare and for what purpose in a price benchmarking exercise.

02

Identify legitimate and reliable market information sources.

03

Standardise coverages and profiles to ensure comparability.

04

Analyse the position of your rate against competitors.

05

Translate the results into pricing decisions consistent with the product's value.

06

Respect the limits of competition law when exchanging information.

07

Design a recurring, governed benchmarking process.

Profile

Who it's for

  • Competitive pricing analyst wishing to specialise in Benchmarking Techniques in Insurance Pricing.
  • Pricing actuary wishing to specialise in Benchmarking Techniques in Insurance Pricing.
  • Market intelligence analyst wishing to specialise in Benchmarking Techniques in Insurance Pricing.
  • Insurance product manager wishing to specialise in Benchmarking Techniques in Insurance Pricing.
  • Pricing strategy consultant wishing to specialise in Benchmarking Techniques in Insurance Pricing.
  • Insurance comparison analyst wishing to specialise in Benchmarking Techniques in Insurance Pricing.
  • Engineering or science graduates seeking to join insurance companies.
Standards & tools

What you'll work with

  • Law 15/2007 on the Defence of Competition
  • Article 101 TFEU (agreements restricting competition)
  • Commission Guidelines on horizontal cooperation agreements (2023)
  • EIOPA supervisory statement on differential pricing practices (2023)
  • Commission Delegated Regulation (EU) 2017/2358 (product oversight and governance)
  • ISO 20252 (market research)
  • Regulation (EU) 2016/679 (GDPR)
Syllabus

6 modules · 300 h

  1. 1.1Questions a price benchmarking exercise answers
  2. 1.2Price comparison versus value comparison
  3. 1.3Equivalent cover: the problem of comparing unlike things
  4. 1.4Levels of analysis: product, segment, channel and territory
  5. 1.5Internal use of results and legal limits
  6. 1.6Prohibited practices: exchange of sensitive information
  7. 1.7Competition law applied to insurance
  8. 1.8Legitimate sources of market information
  9. 1.9Process documentation and traceability
  10. 1.10Workshop: defining the scope of a benchmarking exercise
  1. 2.1Online comparators and their bias
  2. 2.2Public rating tools and own quotations
  3. 2.3Sector reports and aggregated statistics
  4. 2.4Information from brokers and customers
  5. 2.5Renewal and portfolio loss data
  6. 2.6Designing standard profiles for quoting
  7. 2.7Number of profiles required and their representativeness
  8. 2.8Automating data collection and its limits
  9. 2.9Terms of use of consulted sources
  10. 2.10Practical: designing a grid of profiles
  1. 3.1Equivalence of guarantees and limits
  2. 3.2Excesses and their effect on the compared price
  3. 3.3Included services and their valuation
  4. 3.4Instalment surcharges and taxes
  5. 3.5Commercial discounts and temporary promotions
  6. 3.6Adjustment by distribution channel
  7. 3.7Adjustment for seniority and customer history
  8. 3.8Building a comparable price
  9. 3.9Quality control of collected quotations
  10. 3.10Practical: standardising a set of quotations
  1. 4.1Price distribution by profile and by competitor
  2. 4.2Relative position and market percentiles
  3. 4.3Competitiveness maps by segment
  4. 4.4Detecting expensive and cheap segments
  5. 4.5Relationship between positioning and conversion
  6. 4.6Elasticity estimated from own data
  7. 4.7Differences between the market and own portfolio
  8. 4.8Visualising positioning
  9. 4.9Common interpretation errors
  10. 4.10Practical: positioning report for a product
  1. 5.1Priorities: growth, margin or portfolio mix
  2. 5.2Segment rate adjustments and their estimated impact
  3. 5.3Simulating the effect on volume and results
  4. 5.4Technical limits: the risk rate as a floor
  5. 5.5Ethical and regulatory limits of optimisation
  6. 5.6Controlled price tests
  7. 5.7Follow-up after the change
  8. 5.8Internal communication of the decision
  9. 5.9Documenting the decision and its reasons
  10. 5.10Practical: rate adjustment proposal with its simulation
  1. 6.1Benchmarking frequency and automation
  2. 6.2Responsible team and division of tasks
  3. 6.3Integration with the rate review process
  4. 6.4Competitiveness dashboard
  5. 6.5Regulatory compliance control of the process
  6. 6.6Independent review of conclusions
  7. 6.7Storage and security of collected information
  8. 6.8Common errors in benchmarking programmes
  9. 6.9Market evolution and process adaptation
  10. 6.10Final project: complete benchmarking of a mobility product
Methodology, software & labs

How you'll learn

Fully 100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, making it possible to combine the programme with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Python (web scraping with Scrapy), R, Earnix, advanced Excel, Tableau, in free, academic or evaluation versions. Tests are studied using real quotation-gathering procedures with fictitious risk profiles, normalisation of cover to compare prices, and analysis of competitive positioning by segment. Assessment is continuous, module by module, plus the final integrating project.

Accredited laboratories(EN ISO/IEC 17025) with rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry mentoring:lecturers with experience in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, cyber-OT, DIH and compliance as its pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Frequency of benchmarking and automation

Define what to compare and for what purpose in a price benchmarking exercise.

Responsible team and division of tasks

Identify legitimate and reliable market information sources.

Integration with the rate review process

Standardise cover and profiles to ensure comparability.

Competitiveness dashboard

Analyse the position of the rate against competitors.

Regulatory compliance control of the process

Translate the results into pricing decisions consistent with the product's value.

Career opportunities

Where this takes you

Competitive pricing analystPricing actuaryMarket intelligence analystInsurance product managerPricing strategy consultantInsurance comparison analyst
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That is an average of 10 to 15 hours per week, compatible with a full-time job.

You will work with Python (web scraping with Scrapy), R, Earnix, advanced Excel and Tableau. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM own diploma upon passing the continuous assessment and the integrating project. It is in-house training, not an official qualification from the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area can be credited towards the higher programme. Check the credit recognition policy when you enrol.

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