Diploma in Financial Risk Applied to Insurance
Online postgraduate diploma of 800 hours in financial risk applied to insurance. 8 modules covering financial risk in insurance, investment and market risk regulation, interest rate risk and ALM, market and credit risk, liquidity risk, derivatives and hedging, financial risk reporting and governance, and an integrative case study, with an assigned technical tutor.
Diploma in Financial Risk Applied to Insurance — studying from New Zealand
New Zealand's insurance and financial services sector is concentrated in Auckland and Wellington, with a strong focus on general insurance, life insurance and risk management. Natural hazard risk, particularly from earthquakes, is a major consideration, and the Earthquake Commission provides residential natural disaster cover. Actuarial and risk data professionals work for insurers, reinsurers, regulators and consultancies, with oversight from the Reserve Bank of New Zealand and the Financial Markets Authority.
Fees for New Zealand: NZ$1,770 (New Zealand dollar), with instalments and employer sponsorship available.
Relevant bodies in New Zealand
Typical roles
Questions from New Zealand
Which New Zealand bodies recognise actuarial and risk qualifications?
The Actuarial Society of New Zealand and the New Zealand Institute of Actuaries work alongside international bodies such as the Institute and Faculty of Actuaries. Membership and professional credentials in these fields are set by those bodies, not by private providers. SEIUM's qualifications are private and not accredited by any national body, so their standing depends on how your employer or the relevant body assesses them.
Do insurers and financial firms in New Zealand hire people with data and risk skills?
New Zealand's insurance, banking and government sectors do employ people in risk, pricing and data analysis, and the Reserve Bank and insurers both draw on these skills. Hiring usually depends on demonstrated technical ability and professional credentials. A SEIUM qualification can support your application, but whether it is valued is up to each employer.
How is the programme delivered and paid for?
The programme is 100% online and taught in English, so no student visa is needed to study from New Zealand. You are assigned a technical tutor and complete a final project. Fees are payable in instalments, and employer sponsorship is possible. Time commitment varies by programme, from 300 hours for specialist courses to 1,900 hours for master's programmes.
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.
What you will be able to do
Understand the financial risks of insurers.
Apply the prudent person principle and Solvency II market risk rules.
Measure interest rate risk and design ALM strategies.
Measure market and credit risk with VaR and stress tests.
Manage liquidity risk.
Use derivatives to hedge financial risks.
Report and govern financial risk.
Who it's for
- Investment and ALM analysts in insurers.
- Risk managers.
- Actuaries working on ALM and capital.
- Finance and treasury managers.
- Asset managers serving insurers.
- Consultants in insurance finance.
- Economics, finance, mathematics or engineering graduates seeking to enter insurance finance.
What you'll work with
- Solvency II (Directive 2009/138/EC) (EU prudential regime for insurers)
- IFRS 17 (international accounting standard for insurance contracts)
- Delegated Regulation (EU) 2015/35 (Solvency II implementing rules)
- EIOPA Guidelines (European supervisory guidance on Solvency II)
- ISO 31000 (risk management guidelines)
- Law 20/2015 (LOSSEAR) (Spanish law on the supervision of insurers)
- Regulation (EU) 2016/679 (GDPR) (data protection)
- DORA (Regulation (EU) 2022/2554) (digital operational resilience)
- AI Act (Regulation (EU) 2024/1689) (EU rules on artificial intelligence)
- R
- Python (pandas, scikit-learn)
- SAS
- Prophet
- ResQ
8 modules
1.1Insurers as investors1.2Balance sheet structure of life and non-life insurers1.3Types of financial risk1.4Interaction between assets and liabilities1.5Low and rising interest rate environments1.6Financial crises and insurers1.7Risk appetite for financial risk1.8Key indicators1.9Market-consistent valuation1.10Guided exercise: balance sheet risk diagnosis
2.1Prudent person principle (Article 132 Solvency II)2.2Solvency II market risk module2.3Delegated Regulation (EU) 2015/352.4EIOPA Guidelines on investment and ALM2.5IFRS 9 and IFRS 17 interaction2.6Liquidity risk management guidelines2.7Sustainable finance and SFDR2.8Climate risk in investment2.9Supervisory stress tests2.10Exercise: prudent person compliance review
3.1Yield curves and the risk-free rate3.2Duration and convexity3.3Cash flow matching3.4Immunisation strategies3.5Volatility and matching adjustments3.6Interest rate guarantees in life insurance3.7ALM models3.8Scenario generators3.9ALM governance3.10Laboratory: duration gap analysis in R
4.1Equity risk4.2Property risk4.3Spread risk4.4Currency risk4.5Concentration risk4.6Credit ratings and default probabilities4.7Counterparty risk4.8Value at risk and expected shortfall4.9Stress testing4.10Laboratory: market VaR in Python
5.1Sources of liquidity risk5.2Mass lapse and catastrophe events5.3Collateral calls5.4Liquidity buffers5.5Cash flow forecasting5.6Liquidity stress testing5.7Contingency funding plans5.8Liquidity indicators5.9Lessons from market stress5.10Exercise: liquidity stress test
6.1Interest rate swaps and swaptions6.2Equity options6.3Credit default swaps6.4Currency hedging6.5Hedge effectiveness6.6Collateral and margining6.7Counterparty risk in derivatives6.8Hedge accounting6.9Governance of derivatives use6.10Exercise: hedging interest rate risk
7.1Financial risk reporting7.2Solvency II QRTs on assets7.3ORSA financial scenarios7.4Risk limits and monitoring7.5Investment committee reporting7.6Board reporting7.7Model validation7.8Internal audit7.9Continuous improvement7.10Exercise: financial risk dashboard
8.1Case definition and balance sheet8.2Regulatory review8.3Interest rate and ALM analysis8.4Market and credit risk8.5Liquidity risk8.6Hedging strategy8.7Reporting framework8.8Recommendations8.9Final report and presentation8.10Final project: tutor review of the assessment
How you'll learn
100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: you progress at your own pace within the intake, making it compatible with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is R, Python (pandas, scikit-learn), SAS, Prophet and ResQ, in free, academic or evaluation versions. Case studies are built on real workflows from an actuarial modelling environment, a claims data platform and a catastrophe scenario simulator. Assessment is continuous by module plus the final integrated project.
Standards covered: Solvency II (Directive 2009/138/EC), IFRS 17, Delegated Regulation (EU) 2015/35, EIOPA Guidelines, ISO 31000, Law 20/2015 (LOSSEAR), Regulation (EU) 2016/679 (GDPR), DORA (Regulation (EU) 2022/2554), AI Act (Regulation (EU) 2024/1689).
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Where this takes you
Requirements
- Prior technical training or professional experience in the sector. A university degree is not required.
- An internet connection and a computer able to run the programme software.
- English sufficient to read technical standards.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme totals 800 hours over 6–8 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.
You work with R, Python (pandas, scikit-learn), SAS, Prophet and ResQ, using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.
A SEIUM Institute diploma, awarded on passing the continuous assessment and the final project. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.
Yes. Modules passed are recognised in a higher programme in the same area (postgraduate diploma or master's). Ask about the recognition policy when you enrol.
Prior technical training or professional experience in the sector (no university degree required), a computer able to run the software and English sufficient to read technical standards.
Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.
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