Postgraduate DiplomaInsurance, Risk & Actuarial Data Applications open

Postgraduate Diploma in Designing Pay-As-You-Drive and Pay-Per-Mile Policies

Online Postgraduate Diploma of 800 h in designing Pay-As-You-Drive and Pay-Per-Mile policies. 8 modules covering Directive 2009/103/CE (motor vehicle insurance), Royal Legislative Decree 8/2004 (LRCSCVM) and R. Tutor assigned and enrolment open.

Duration800 h
ModeOnline
AwardSEIUM Institute diploma

Postgraduate Diploma in Designing Pay-As-You-Drive and Pay-Per-Mile Policies — 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$1,400 (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

Take the controls.

Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.

SIM · LIVE ●
Learning outcomes

What you will be able to do

01

Distinguish usage-based insurance models and their variants.

02

Measure exposure using mileage, time and driving context.

03

Rate usage-based policies using actuarial models.

04

Design the product, its coverages and its customer experience.

05

Draft the contractual framework in line with insurance regulation.

06

Define the technology operation and data processing.

07

Assess the profitability and evolution of the product.

Profile

Who it's for

  • Motor insurance product designer who wants to specialise in Designing Pay-As-You-Drive and Pay-Per-Mile Policies.
  • Usage-based pricing actuary who wants to specialise in Designing Pay-As-You-Drive and Pay-Per-Mile Policies.
  • Telematics product manager who wants to specialise in Designing Pay-As-You-Drive and Pay-Per-Mile Policies.
  • Portfolio profitability analyst who wants to specialise in Designing Pay-As-You-Drive and Pay-Per-Mile Policies.
  • Insurance legal adviser who wants to specialise in Designing Pay-As-You-Drive and Pay-Per-Mile Policies.
  • Insurtech consultant who wants to specialise in Designing Pay-As-You-Drive and Pay-Per-Mile Policies.
  • Engineering or science graduates looking to enter insurance companies.
Standards & tools

What you'll work with

  • Directive 2009/103/CE (Car Insurance)
  • Royal Legislative Decree 8/2004 (LRCSCVM)
  • Law 50/1980 on Insurance Contracts
  • EDPB Guidelines 01/2020 on Connected Vehicles
  • Delegate Regulation (EU) 2017/2358 (Product Governance)
  • Directive (EU) 2016/97 (IDD)
  • Regulation (EU) 2016/679 (GDPR)
Syllabus

8 modules · 800 h

  1. 1.1From traditional to usage-based insurance
  2. 1.2Pay-as-you-drive, pay-per-mile and pay-how-you-drive
  3. 1.3Mileage as a risk variable
  4. 1.4Evidence linking exposure and claims
  5. 1.5Market experiences in the US and Europe
  6. 1.6Profile of low-mileage customers
  7. 1.7Effects on mobility and the environment
  8. 1.8Advantages and risks for the insurer
  9. 1.9Barriers to adoption
  10. 1.10Case study: analysis of a commercial pay-per-mile product
  1. 2.1Mileage sources: OBD, app and vehicle
  2. 2.2Odometer photographs
  3. 2.3Validation and tampering detection
  4. 2.4Kilometres by road type and time band
  5. 2.5Driving time as exposure
  6. 2.6Managing periods without data
  7. 2.7GNSS measurement accuracy
  8. 2.8Reconciliation with MOT readings
  9. 2.9Connected vehicle data
  10. 2.10Laboratory: mileage estimation using GNSS data
  1. 3.1Fixed premium and variable component
  2. 3.2Per-kilometre rate and bands
  3. 3.3Monthly premium caps
  4. 3.4GLM models with mileage exposure
  5. 3.5Risk elasticity to mileage
  6. 3.6Adjustments by area and time of day
  7. 3.7Adverse selection and self-selection
  8. 3.8Rate adequacy and fairness
  9. 3.9Portfolio impact simulation
  10. 3.10Practical exercise: designing a per-kilometre rate
  1. 4.1Coverages and excesses
  2. 4.2General and particular conditions
  3. 4.3Monthly usage-based billing
  4. 4.4Payment and collection management
  5. 4.5Digital purchase process
  6. 4.6Device installation and activation
  7. 4.7Communicating usage to the customer
  8. 4.8Cancellation and vehicle changes
  9. 4.9Fleet and contract hire products
  10. 4.10Workshop: pay-per-mile product sheet
  1. 5.1Insurance Contract Law
  2. 5.2Compulsory motor insurance
  3. 5.3Pre-contractual disclosure duty
  4. 5.4Insurance Distribution Directive
  5. 5.5Clauses on telematics data
  6. 5.6Consent and RGPD
  7. 5.7Transparency on premium calculation
  8. 5.8Customer complaints
  9. 5.9Product governance and oversight
  10. 5.10Case study: review of policy wording clauses
  1. 6.1Usage-based billing architecture
  2. 6.2Integration with telematics platforms
  3. 6.3Daily usage calculation
  4. 6.4Tampering alerts
  5. 6.5Telematics customer service
  6. 6.6Operating costs per policy
  7. 6.7Programme operating indicators
  8. 6.8Selection of technology providers
  9. 6.9Programme scaling
  10. 6.10Practical exercise: monthly billing workflow
  1. 7.1Technical profitability metrics
  2. 7.2Product combined ratio
  3. 7.3Retention and customer value
  4. 7.4Portfolio cannibalisation
  5. 7.5Customer experience
  6. 7.6Managing adverse selection
  7. 7.7Evolution towards pay-how-you-drive
  8. 7.8Shared mobility and electric vehicles
  9. 7.9Embedded insurance offered by manufacturers
  10. 7.10Workshop: five-year business plan
  1. 8.1Market and competitor analysis
  2. 8.2Definition of the target segment
  3. 8.3Rate design
  4. 8.4Coverage design
  5. 8.5Policy wording and compliance
  6. 8.6Operational architecture design
  7. 8.7Commercial launch plan
  8. 8.8Five-year financial projection
  9. 8.9Report and presentation
  10. 8.10Final review with the tutor
Methodology, software & labs

How you'll learn

Training 100% online on the SEIUM campus, with downloadable material, recorded lectures and an assigned technical tutor. No fixed timetable: students progress at their own pace within the intake, which allows them to combine it with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is R, Python (pandas), Earnix, advanced Excel, Power BI, in free, academic or trial versions. The practical work is based on real per-kilometre rating procedures using odometer data, design of contractual conditions for a usage-based policy, and profitability analysis of a PAYD portfolio. Assessment is continuous by module, plus the final integrative project.

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

Build it end to end

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

Market and competitor analysis

Distinguish usage-based insurance models and their variants.

Definition of the target segment

Measure exposure using mileage, time and driving context.

Rate design

Rate usage-based policies using actuarial models.

Coverage design

Design the product, its coverages and its customer experience.

Policy wording and compliance

Draft the contractual framework in line with insurance regulation.

Career opportunities

Where this takes you

Motor insurance product designerUsage-based pricing actuaryTelematics product managerPortfolio profitability analystInsurance legal adviserInsurtech consultant
Admissions & scholarships

Requirements

  • Prior technical training or professional experience in the sector. A university degree is not required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient level of 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 800 hours in total, spread over 6 to 8 months. That equates to an average of 10 to 15 hours per week, compatible with full-time work.

Work is carried out with R, Python (pandas), Earnix, advanced Excel and Power BI. Free, academic or trial versions are used, and the tutor indicates the free alternative where one exists.

An SEIUM Institute diploma upon passing the continuous assessment and the integrative project. It is an in-house qualification, not an official title from the Ministry.

Yes. Modules passed in a course or Postgraduate Diploma in the same area are recognised towards the higher-level programme. Check the recognition policy when enrolling.

Postgraduate Diploma in Designing Pay-As-You-Drive and Pay-Per-Mile PoliciesEnrol
Scroll to Top
SEIUM – Institute of Advanced Engineering
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.