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Pricing in microinsurance

Duration: 3 days

Overview:

Microinsurance providers see the need for increased understanding and expertise in pricing their products. This training will help pricing specialists responsible for calculating different projections to better understand the specificities of the microinsurance sector in order to better place and monitor microinsurance products.

Training Objectives:

By the end of this course, participants will be able to:

  • Identify key context elements to be considered in pricing for microinsurance.
  • Describe the pricing process and premium components.
  • Set and validate pricing assumptions based on relevant data.
  • Understand the basic calculations required for determining risk premiums, expense loadings and gross premiums for short-term microinsurance products.
  • Set appropriate monitoring processes for more effective pricing reviews.

Who could benefit from the training:

  • Practitioners responsible for pricing or setting premium rates in their microinsurance institution
  • Capacity building consultants who may be involved in pricing microinsurance products
  • External consultants responsible for providing data and information for pricing, approving premium rates for the company, and providing analysis of pricing
  • Members of a product development team wanting a greater understanding of the pricing process

Note: Participants must be familiar with pricing and reserving techniques.

Methodology:

To build the skills of microinsurance practitioners to apply the content in their day-to-day work, the participative sessions will utilise a combination of practice exercises, case study analyses, group activities, small group exercises, and games.