The AMII Level 1 and AMII Level 2 were designed to prepare individual to acquire the technical knowledge of Life Insurance business

Compulsory subjects
Insurance Law



SUBJECT SYNOPSYS

The module shall provide the knowledge and understanding of the laws which form the background to the operation of insurance, the system within which these laws operate and the ability to apply knowledge and skills to simple situations.

Topics cover are the basic legal concepts and general principles of laws, the laws relevant to insurance the system which applies these laws and the application of knowledge and skills to interpret problems/issues related to insurance law.

LEARNING OUTCOMES

  • Examine the basic legal concepts and general principles of laws
  • Examine knowledge and understanding of the laws relevant to insurance the system which applies these laws
  • Illustrate an analytical approach to the application of knowledge and skills to interpret problems/issues related to insurance law

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Insurance Business and Economics



SUBJECT SYNOPSYS

The module shall provide the knowledge and understanding of the environment in which businesses operate: the economic, operational, ethical and financial framework with particular application to the transaction of insurance business.

Topics cover are the insurance in the world economy, the relationship between the insurance business and the needs of the society, the relationship between the business and organisation with reference to insurance and the relationship between the business organisation and their financial processes.

LEARNING OUTCOMES

  • Illustrate knowledge and understanding of insurance, finance and money in the world economy
  • Illustrate knowledge and understanding of the relationship between the insurance business and the needs of the society
  • Examine the relationship between the business and organisation with reference to insurance
  • Appraise the relationship between the business organisation and their financial processes

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Elective subjects

Life Insurance Companies - Accounting & Financial Reporting

SUBJECT SYNOPSYS

This module provides a broad exposure to financial and managerial accounting in Life insurance companies, including the corporate and regulatory environment in which accounting functions occur.

LEARNING OUTCOMES

  • to understand the general concept of accounting and management accounting;
  • to read and analyse the Cash Flow statement, Trail Balance, Profit & Loss Account and Balance Sheet of a Life Insurance Company;
  • to appreciate the uniqueness of Insurance accounting i.e. the cash basis and the accrual basis;
  • to comprehend the International Standard of Accounting Practice adopted by Life Insurance Companies in Malaysia;
  • understand and calculate the various accounting ratio applicable to Life Insurance company to determine the health status the said company
  • understand what is Capital Adequacy Ratio under the Risk Based Capital concept.

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The Policy Lifecycle – Insurance Administration

SUBJECT SYNOPSYS

This module discusses the lifecycle of a life insurance policy and explores insurance administration functions through real-world example. Learners will closely examine the underwriting processes, customer service practices, reinsurance protocols and claims evaluation procedures to gain an understanding of how insures carry out a broad range of administrative activates.

LEARNING OUTCOMES

  • to understand the general concept of the life cycle of a life insurance policy/product;
  • to identify the various roles played by the various department existed in a life insurance company i.e. Actuarial, IT, Compliance, Finance and Risk, Distribution Channel, Sales Corporate Communication and Legal Dept
  • to appreciate the important of excellence of customer service in relation to life insurance as an intangible product;
  • to comprehend the technical function of Underwriter, Policy Servicing, Claim and Call center of a Life Insurance Company;
  • understand how life insurance products are distributed i.e Agency structure, direct mailing, Salaried Sales personnel, Bancassurance;

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Life & Disability Underwriting

SUBJECT SYNOPSYS

This elective core module is to provide a knowledge and appreciation of the underwriting considerations for life and disability and critical illness insurance, including both medical and non-medical factors, and a knowledge of the major disorders and diseases of the body.

LEARNING OUTCOMES

  • Illustrate the underwriting considerations for life and disability and critical illness insurance, including both medical and non-medical factors, and a knowledge of the major disorders and diseases of the body.

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Life Assurance



SUBJECT SYNOPSYS

This elective core module is to provide a knowledge and understanding of the scope of life assurance, its appropriate use and administration and the legal and regulatory influences on the conduct of this type of business

LEARNING OUTCOMES

  • Appraise and understand the scope of life assurance, its appropriate use and administration and the legal and regulatory influences on the conduct of this type of business

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Medical and Health Insurance



SUBJECT SYNOPSYS

The module shall provide the knowledge and understanding of the principles and practices of transacting private medical insurance (PMI) business, the provision and operation of PMI within the wider healthcare sector. Topics cover are the development and the structure of health care provision in Malaysia, the principles and practices of the PMI, the risk assessment and management, the principles and practices of the underwriting, the claims and policy administration, the legislation and regulation, the marketing and sales management and the challenges and issues of the private medical insurance products and services.

LEARNING OUTCOMES

  • Appraise the development and the structure of health care provision in Malaysia
  • Distinguish and understand the principles and practices of the Private Medical Insurance (PMI) products and services
  • Debate and understand the risk assessment and management of the PMI products and services
  • Appraise the principles and practices of the private medical underwriting
  • Develop the claims and policy administration of the PMI products and services
  • Illustrate the legislation and regulation of the PMI products and services
  • Develop the marketing and sales management of the PMI products and services
  • Appraise and understand the challenges and issues of the PMI products and services

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MII@PODCAST
MII@E-LEARNING
e-learning

PARTNER AND AFFILIATE

Bank Negara Malaysia   Asian Institute of Finance The General Insurance Association of Malaysia   Life Insurance Association of Malaysia   Association of Malaysian Loss Adjusters   Malaysian Takaful Association   ASEAN Insurance Training and Research Institute   Malaysian Financial Planning Council   National Association of Malaysian Life Insurance Fieldforce and Advisers   Financial Sector Talent Enrichment Programme   Islamic Banking and Finance Institute Malaysia  

Asian Institute of Chartered Bankers   Insurance Services Malaysia   Securities Industry Development Corporation   Finance Accreditation Agency   MITBA