Course in Simulation of Natural Catastrophe Scenarios
Online course of 300 h in simulation of natural catastrophe scenarios. 6 modules covering the Sendai Framework for Disaster Risk Reduction 2015-2030, Directive 2007/60/EC (flood risk assessment and management) and Oasis LMF. Dedicated tutor and open enrolment.
Course in Simulation of Natural Catastrophe Scenarios — studying from South Africa
South Africa has one of the more developed insurance and financial services sectors on the continent, with major insurers and reinsurers headquartered in Johannesburg and Cape Town. Actuarial and risk analysis skills are in demand for pricing, reserving and risk management. The Financial Sector Conduct Authority and the Prudential Authority regulate the sector, and insurers rely on data-driven models to meet capital and solvency requirements. Engineers with statistics and data skills are increasingly recruited into these roles.
Fees for South Africa: R 12 000 (South African rand), with instalments and employer sponsorship available.
Relevant bodies in South Africa
Typical roles
Questions from South Africa
Will a SEIUM qualification be recognised by the professional bodies in South Africa for this area?
SEIUM qualifications are private qualifications, not official state degrees, and they are not accredited by any South African body. Actuarial work in South Africa is overseen by the Actuarial Society of South Africa (ASSA), whose professional credentials follow their own examination and regulatory routes. Recognition of a SEIUM qualification is decided by employers or the relevant body, so verify this directly with them before enrolling.
How might this qualification be used by employers in South Africa in insurance and risk roles?
Insurers, banks and risk consultancies look for strong data, modelling and risk skills. A private qualification may support your profile, particularly alongside relevant experience, but it will not replace formal professional credentials where these are required. Whether a particular employer values it is up to them, so it is worth asking hiring managers in your target field how they would view it.
Can I study this programme alongside full-time work from South Africa, and is there a time zone or language issue?
Yes, the programme is delivered fully online and in English, so no student visa is needed to study from home. Master's programmes require 1,900 hours, postgraduate diplomas 800 hours and specialist courses 300 hours. Each student is assigned a technical tutor, fees can be paid in instalments, and employer sponsorship is possible. Ask SEIUM about the time-zone and weekly workload expectations before committing.
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
Explain the role of scenario simulation in catastrophe risk management.
Build realistic hazard scenarios from historical events and scientific data.
Quantify the economic and insured damage and losses of a scenario.
Design reverse and stress scenarios to identify vulnerabilities.
Integrate the results into capital and reinsurance planning.
Organise response drills for mass-claim events.
Communicate results clearly to management and authorities.
Who it's for
- Catastrophe modeller who wants to specialise in simulation of natural catastrophe scenarios.
- Natural hazard scenario analyst who wants to specialise in simulation of natural catastrophe scenarios.
- Catastrophe risk manager who wants to specialise in simulation of natural catastrophe scenarios.
- Emergency planning technician who wants to specialise in simulation of natural catastrophe scenarios.
- Non-life actuary who wants to specialise in simulation of natural catastrophe scenarios.
- Accumulation analyst who wants to specialise in simulation of natural catastrophe scenarios.
- Engineering or science graduates looking to join insurance companies.
What you'll work with
- Sendai Framework for Disaster Risk Reduction 2015-2030
- Directive 2007/60/EC (Flood Risk Assessment and Management)
- Royal Legislative Decree 7/2004 (Legal Statute of the Insurance Compensation Consortium)
- Law 17/2015 on the National System of Civil Protection
- Spanish Seismic Construction Standard NCSE-02
- Delegated Regulation (EU) 2015/35 (Catastrophe Risk Sub-Module)
- ISO 22301 (Business Continuity)
6 modules · 300 h
1.1Why simulate a scenario1.2Deterministic versus probabilistic scenario1.3Historical and synthetic scenarios1.4Use in risk management and in crises1.5Difference from the full catastrophe model1.6Supervisory scenarios1.7Vocabulary and acronyms in the field1.8Credibility and plausibility of the scenario1.9Common errors in design1.10Exercise: defining a reference scenario
2.1Choice of hazard and its severity2.2Location and footprint of the event2.3Chaining of effects2.4Time horizon of the scenario2.5Explicit assumptions and their justification2.6Exposure data required2.7Applied vulnerability2.8Indirect and business interruption effects2.9Scenario documentation2.10Practice: building a complete scenario
3.1Direct losses to the portfolio3.2Indirect and business interruption losses3.3Effect on reserves and liquidity3.4Effect on capital and solvency3.5Reinsurance recoveries and their timing3.6Counterparty risk after the event3.7Effect on financial markets3.8Uncertainty of the result3.9Comparison between scenarios3.10Practice: quantification of a scenario
4.1Reverse scenario and its usefulness4.2Identifying the breaking point4.3Combination of simultaneous events4.4Extreme tail scenarios4.5Emerging risk scenarios4.6Liquidity tests4.7Supervisory scenarios and their response4.8Limitations of the exercises4.9Communicating the results4.10Practice: designing a reverse scenario
5.1Integration into risk management5.2Appetite and limit decisions5.3Derived contingency plans5.4Crisis drills with management5.5Response and communication protocols5.6Reporting to the board and the supervisor5.7Periodic review of scenarios5.8Lessons from real events5.9Culture of preparedness5.10Practice: script for a crisis drill
6.1Choice of entity and hazard6.2Design of the reference scenario6.3Quantification of consequences6.4Complementary reverse scenario6.5Derived contingency plan6.6Drill script with management6.7Reporting plan6.8Planned review and improvement6.9Methodological report6.10Project defence
How you'll learn
Fully 100 % online training on the SEIUM campus, with downloadable material, recorded classes and a dedicated technical tutor. No fixed timetables: learners progress at their own pace within the intake, which makes it possible to combine study with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is Oasis LMF, Verisk Touchstone, Moody’s RMS RiskLink, QGIS, Python (NumPy, SciPy), in free, academic or evaluation versions. Hands-on work is based on real procedures for constructing deterministic earthquake and flood scenarios, mass-claims management drill exercises and reverse scenarios for stress testing. Assessment is continuous by module plus the final integrative project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Explain the role of scenario simulation in catastrophe risk management.
Build realistic hazard scenarios from historical events and scientific data.
Quantify the economic and insured damage and losses of a scenario.
Design reverse and stress scenarios to identify vulnerabilities.
Integrate the results into capital and reinsurance planning.
Where this takes you
Requirements
- No prior degree is required.
- Internet connection and a computer capable of running the programme's software.
- Sufficient Spanish to follow technical regulatory reading.
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 comprises 300 hours in total, spread over 3 to 5 months. That is between 10 and 15 hours a week on average, compatible with a full-time job.
The course works with Oasis LMF, Verisk Touchstone, Moody’s RMS RiskLink, QGIS, Python (NumPy, SciPy). Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.
An in-house SEIUM Institute diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official qualification issued by the Ministry.
Yes. Modules passed in a course or postgraduate diploma in the same area can be recognised towards the higher programme. Check the recognition policy when you enrol.
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