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Course in Capital Requirements in Transport Insurance

Online 300-hour course in capital requirements in transport insurance. 6 modules covering Directive 2009/138/EC (Solvency II), Delegated Regulation (EU) 2015/35 (standard formula and marine and aviation catastrophe risk) and R (ChainLadder). Assigned tutor and open enrolment.

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

What you will be able to do

01

Characterise the risk profile of the marine, aviation and cargo lines.

02

Calculate the best estimate and risk margin of transport technical provisions.

03

Apply the Solvency II standard formula to premium, reserve and catastrophe risks.

04

Quantify the mitigating effect of reinsurance on the required capital.

05

Integrate capital into the ORSA process and business planning.

06

Prepare quantitative and qualitative information for the supervisor.

07

Propose underwriting and reinsurance decisions based on return on capital.

Profile

Who it's for

  • Solvency actuary wishing to specialise in Capital Requirements in Transport Insurance.
  • Capital and risk management analyst wishing to specialise in Capital Requirements in Transport Insurance.
  • Head of the actuarial function wishing to specialise in Capital Requirements in Transport Insurance.
  • Transport underwriter with a technical focus wishing to specialise in Capital Requirements in Transport Insurance.
  • Ceded reinsurance analyst wishing to specialise in Capital Requirements in Transport Insurance.
  • Regulatory reporting manager wishing to specialise in Capital Requirements in Transport Insurance.
  • Engineering or science graduates looking to enter transport insurers.
Standards & tools

What you'll work with

  • Directive 2009/138/EC (Solvency II)
  • Delegated Regulation (EU) 2015/35 (standard formula and marine and aviation catastrophe risk)
  • Law 20/2015 (LOSSEAR)
  • Royal Decree 1060/2015 (ROSSEAR)
  • IFRS 17 (insurance contracts)
  • EIOPA Guidelines on the own risk and solvency assessment (ORSA)
Syllabus

6 modules · 300 h

  1. 1.1Particularities of the transport lines
  2. 1.2Volatility and low frequency of claims
  3. 1.3Accumulated exposures and concentration
  4. 1.4Catastrophe risk in cargo and hull
  5. 1.5Long-tail claims and their effect
  6. 1.6Market cycles and their impact
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Differences between marine, aviation and land transport
  9. 1.9Available data and its quality
  10. 1.10Exercise: risk profile of a portfolio
  1. 2.1Best estimate of claims
  2. 2.2Triangle projection methods
  3. 2.3Incurred but not reported claims
  4. 2.4Large losses and their separate treatment
  5. 2.5Unearned premium provision
  6. 2.6Risk margin
  7. 2.7Effect of discounting
  8. 2.8Validation of provisions
  9. 2.9Uncertainty and its communication
  10. 2.10Practice: projection of a cargo portfolio
  1. 3.1Modules applicable to the transport lines
  2. 3.2Premium and reserve risk
  3. 3.3Catastrophe scenarios for the line
  4. 3.4Accumulations by port and by warehouse
  5. 3.5Reinsurance counterparty risk
  6. 3.6Market risk associated with investments
  7. 3.7Diversification across lines
  8. 3.8Entity-specific parameters
  9. 3.9Partial internal model and its justification
  10. 3.10Practice: capital calculation for a portfolio
  1. 4.1Common structures in transport
  2. 4.2Accumulation and catastrophe covers
  3. 4.3Effect of reinsurance on capital
  4. 4.4Risk transfer test
  5. 4.5Layer exhaustion risk
  6. 4.6Reinstatements and their cost
  7. 4.7Guarantees and collateral
  8. 4.8Reinsurer panel management
  9. 4.9Programme documentation
  10. 4.10Practice: effect of a programme on capital
  1. 5.1Line risk appetite
  2. 5.2Underwriting and accumulation limits
  3. 5.3Capital-adjusted profitability
  4. 5.4Pricing decisions based on capital
  5. 5.5Line-specific stress tests
  6. 5.6Own risk and solvency assessment
  7. 5.7Line prudential reporting
  8. 5.8Dialogue with the supervisor
  9. 5.9Monitoring indicators
  10. 5.10Practice: line capital report
  1. 6.1Choice of transport portfolio
  2. 6.2Risk profile analysis
  3. 6.3Technical provisions calculation
  4. 6.4Required capital calculation
  5. 6.5Reinsurance programme design
  6. 6.6Stress tests
  7. 6.7Use in a business decision
  8. 6.8Indicators and reporting
  9. 6.9Project report
  10. 6.10Project defence
Methodology, software & labs

How you'll learn

100% online training on the SEIUM Institute campus, with downloadable material, recorded classes and a assigned technical tutor. There are no fixed timetables: students progress at their own pace within the enrolment period, which makes it possible to combine the course with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is R (ChainLadder), Moody’s RMS RiskLink, Igloo (WTW), advanced Excel, Python (NumPy), in free, academic or evaluation versions. Tests are studied using real procedures for calculating the solvency capital requirement of a transport portfolio, and analysing the effect of a reinsurance programme on capital. Assessment is continuous by module, plus the final capstone project.

Accreditable laboratories(EN ISO/IEC 17025) with rotor bench, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry-mentored: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:safety-by-design approach, ciber-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.

Choice of transport portfolio

Characterise the risk profile of the marine, aviation and cargo lines.

Risk profile analysis

Calculate the best estimate and risk margin of transport technical provisions.

Technical provisions calculation

Apply the Solvency II standard formula to premium, reserve and catastrophe risks.

Required capital calculation

Quantify the mitigating effect of reinsurance on the required capital.

Reinsurance programme design

Integrate capital into the ORSA process and business planning.

Career opportunities

Where this takes you

Solvency actuaryCapital and risk management analystHead of the actuarial functionTransport underwriter with a technical focusCeded reinsurance analystRegulatory reporting manager
Admissions & scholarships

Requirements

  • No prior qualification 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.

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FAQ

Frequently asked questions

The programme totals 300 hours spread over 3 to 5 months. That is between 10 and 15 hours a week on average, compatible with a full-time job.

Work is carried out with R (ChainLadder), Moody’s RMS RiskLink, Igloo (WTW), advanced Excel, Python (NumPy). Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM Institute diploma upon passing the continuous assessment and the capstone 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 are credited towards the higher programme. Check the credit transfer policy when enrolling.

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