Hybrid Insurance–Service Product Development Course
Online course of 300 h in hybrid insurance–service product development. 6 modules covering Directive (EU) 2016/97 (IDD), Delegated Regulation (EU) 2017/2358 (product oversight and governance) and Figma. Assigned tutor and open enrolment.
Hybrid Insurance–Service Product Development Course — 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 14 900 (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 evolution from traditional insurance towards hybrid products with services.
Apply customer-centred design techniques.
Define the product architecture and its operations.
Calculate the economics and actuarial basis of the hybrid product.
Meet the product governance and distribution requirements.
Plan the launch and performance measurement of the product.
Develop a final project for a hybrid insurance–service product.
Who it's for
- Insurance product manager looking to specialise in Hybrid Insurance–Service Product Development.
- Service designer looking to specialise in Hybrid Insurance–Service Product Development.
- Product actuary looking to specialise in Hybrid Insurance–Service Product Development.
- Partnerships and services manager looking to specialise in Hybrid Insurance–Service Product Development.
- Product governance manager looking to specialise in Hybrid Insurance–Service Product Development.
- Insurance innovation consultant looking to specialise in Hybrid Insurance–Service Product Development.
- Graduates in engineering or sciences seeking to join insurance companies.
What you'll work with
- Directive (EU) 2016/97 (IDD)
- Delegated Regulation (EU) 2017/2358 (Product Oversight and Governance)
- Implementation Regulation (EU) 2017/1469 (Insurance Product Information Document, IPID)
- Royal Decree-Law 3/2020 (Insurance Distribution)
- Royal Legislative Decree 1/2007 (Consumer Protection)
- Law 50/1980 of Insurance Contract
- ISO 23592 (Service Excellence)
6 modules · 300 h
1.1What a hybrid insurance and service product is1.2Why the customer values the service more than the indemnity1.3Examples by line: assistance, maintenance, prevention and repair1.4Service as cover in kind1.5Value chain and the role of suppliers1.6Revenue models: premium, subscription and pay-per-use1.7Regulatory fit: insurance, ancillary service or both1.8Limits of what an insurer can offer1.9Competition from platforms and manufacturers1.10Workshop: identifying hybrid opportunities in a line of business
2.1Customer research: interviews and observation2.2Customer journey map and pain points2.3Moments of truth: claim, renewal and assistance2.4Value proposition and how to formulate it2.5Rapid service prototyping2.6Testing with real customers and learning2.7Perceived price and willingness to pay2.8Segments for which the hybrid adds no value2.9Inclusive design and accessibility2.10Practice: prototype of a hybrid product
3.1Components: cover, service, platform and data3.2Supplier network: selection, contracts and service levels3.3Technology integration with suppliers3.4Service automation and customer self-service3.5Measuring the quality of the service delivered3.6Capacity management and demand peaks3.7Unified versus fragmented experience3.8Service costs and their control3.9Scalability of the operating model3.10Practice: designing the product's operating model
4.1Separating risk cost from service cost4.2Frequency of service use and its modelling4.3Effect of the service on claims frequency: genuine prevention4.4Adverse selection and intensive use of the service4.5Pricing of the bundle and its components4.6Margin per component and overall profitability4.7Provisions for committed services4.8Sensitivity to changes in supplier costs4.9Economic monitoring of the product4.10Practice: economic model of a hybrid product
5.1Product governance and oversight5.2Information document and bundle transparency5.3Target market and appropriate sale5.4Services provided by third parties and liability towards the customer5.5Data protection in connected services5.6Distribution: own channel, intermediaries and partnerships5.7Partnerships with manufacturers, workshops and platforms5.8Brand positioning and service promise5.9Training the sales network5.10Practice: launch plan for a hybrid product
6.1Phased launch plan and pilot market6.2Product indicators: use, satisfaction and profitability6.3Customer feedback and continuous improvement6.4Deciding whether to scale, adjust or withdraw6.5Supplier management over time6.6Product evolution and new versions6.7Industry cases and lessons learned6.8Common mistakes in hybrid products6.9Internal organisation needed to sustain them6.10Final project: complete hybrid product with its business plan
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: students progress at their own pace within the intake, which makes it possible to combine the programme with work.
Each module combines theory, guided reading of the original standard and applied exercises. The working software is Figma, Miro, advanced Excel, R, Power BI, in free, academic or evaluation versions. Tests are studied using real procedures for prototype design of hybrid products, customer testing, and product and service economic models. Assessment is continuous, module by module, plus the final integrating project.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Explain the evolution from traditional insurance towards hybrid products with services.
Apply customer-centred design techniques.
Define the product architecture and its operations.
Calculate the economics and actuarial basis of the hybrid product.
Meet the product governance and distribution requirements.
Where this takes you
Requirements
- No prior qualification is required.
- An internet connection and a computer capable of running the programme's software.
- A level of Spanish sufficient 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 comprises 300 hours in total, spread over 3 to 5 months. That amounts to between 10 and 15 hours per week on average, compatible with a full-time job.
You will work with Figma, Miro, advanced Excel, R and Power BI. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.
A SEIUM's own diploma upon passing the continuous assessment and the integrating project. It is in-house training, not an official qualification from the Ministry.
Yes. Modules passed on a course or Postgraduate Diploma in the same area are recognised towards the higher programme. Check the recognition policy when you enrol.
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