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.
Course in Capital Requirements in Transport Insurance — studying from the United Kingdom
Insurance and risk analysis are important sectors in the United Kingdom, with London's market, the City of London and Edinburgh's financial services hub employing large numbers of actuaries, risk analysts and data specialists. Engineering knowledge is increasingly valuable in assessing risk for vehicles, infrastructure, energy and emerging technologies. Insurers and reinsurers use modelling, catastrophe analysis and telematics data. Regulation by the Prudential Regulation Authority and the Financial Conduct Authority shapes professional practice in this area.
Fees for the United Kingdom: £619 (Pound sterling), with instalments and employer sponsorship available.
Relevant bodies in the United Kingdom
Typical roles
Questions from the United Kingdom
Which UK bodies relate to actuarial and risk qualifications, and does SEIUM's training count towards their exams?
In the UK, actuarial professional status is governed by the Institute and Faculty of Actuaries, which runs its own examinations and accreditation. SEIUM's training is not accredited by the IFoA or any national body, and it does not confer exemptions from those exams unless the IFoA itself decides so. Confirm exemption policies directly with the IFoA before enrolling.
Do UK insurers and risk firms hire people with private online engineering or data qualifications?
UK insurers and risk consultancies recruit on the basis of skills, experience and recognised credentials. A private qualification may support an application where it demonstrates applied data or risk modelling, but employers decide its value case by case. Practical project work often carries more weight, so present your final project clearly on your CV and in interviews.
How much study time is needed, and can I pay for it in instalments while working in the UK?
Programmes range from 300 hours for specialist courses to 1,900 hours for master's programmes, all delivered online in English. You are assigned a technical tutor for support. Fees are payable in instalments, and employer sponsorship is possible. Plan weekly study hours realistically, as the total hours are substantial for a part-time learner.
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
Characterise the risk profile of the marine, aviation and cargo lines.
Calculate the best estimate and risk margin of transport technical provisions.
Apply the Solvency II standard formula to premium, reserve and catastrophe risks.
Quantify the mitigating effect of reinsurance on the required capital.
Integrate capital into the ORSA process and business planning.
Prepare quantitative and qualitative information for the supervisor.
Propose underwriting and reinsurance decisions based on return on capital.
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.
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)
6 modules · 300 h
1.1Particularities of the transport lines1.2Volatility and low frequency of claims1.3Accumulated exposures and concentration1.4Catastrophe risk in cargo and hull1.5Long-tail claims and their effect1.6Market cycles and their impact1.7Sector vocabulary and acronyms1.8Differences between marine, aviation and land transport1.9Available data and its quality1.10Exercise: risk profile of a portfolio
2.1Best estimate of claims2.2Triangle projection methods2.3Incurred but not reported claims2.4Large losses and their separate treatment2.5Unearned premium provision2.6Risk margin2.7Effect of discounting2.8Validation of provisions2.9Uncertainty and its communication2.10Practice: projection of a cargo portfolio
3.1Modules applicable to the transport lines3.2Premium and reserve risk3.3Catastrophe scenarios for the line3.4Accumulations by port and by warehouse3.5Reinsurance counterparty risk3.6Market risk associated with investments3.7Diversification across lines3.8Entity-specific parameters3.9Partial internal model and its justification3.10Practice: capital calculation for a portfolio
4.1Common structures in transport4.2Accumulation and catastrophe covers4.3Effect of reinsurance on capital4.4Risk transfer test4.5Layer exhaustion risk4.6Reinstatements and their cost4.7Guarantees and collateral4.8Reinsurer panel management4.9Programme documentation4.10Practice: effect of a programme on capital
5.1Line risk appetite5.2Underwriting and accumulation limits5.3Capital-adjusted profitability5.4Pricing decisions based on capital5.5Line-specific stress tests5.6Own risk and solvency assessment5.7Line prudential reporting5.8Dialogue with the supervisor5.9Monitoring indicators5.10Practice: line capital report
6.1Choice of transport portfolio6.2Risk profile analysis6.3Technical provisions calculation6.4Required capital calculation6.5Reinsurance programme design6.6Stress tests6.7Use in a business decision6.8Indicators and reporting6.9Project report6.10Project defence
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.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Characterise the risk profile of the marine, aviation and cargo lines.
Calculate the best estimate and risk margin of transport technical provisions.
Apply the Solvency II standard formula to premium, reserve and catastrophe risks.
Quantify the mitigating effect of reinsurance on the required capital.
Integrate capital into the ORSA process and business planning.
Where this takes you
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.
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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