FIN222: Principles of Risk Management and Insurance Creating an Insurance Policy Students are required to creatively craft an insurance policy that may be sold by private insurance companies. The policy must be an exclusive idea, meaning it can't already exist in the Insurance Industry. Project organization is shown below: Part 1 - Introduction: Detailed introduction of the policy. What customers is the policy made for? Rate making: Premium and deductible size, show calculations. (Chapter 7). Part 2 - Technical Aspects: Does the policy fulfil the six requirements? If not how can it be altered? (Chapter 2) What marketing channels will the insurance company use to distribute their new policy? (Chapter 5) Financial performance and analysis (Chapter 7). Part 3 - Written contract: Example of Insurance Policy Contract (Chapter 10). Legal characteristics of insurance contract (Chapter 9). Part 4 - Conclusion: Why have you chosen this policy? What is its importance in the society we live in? Is it feasible? Why doesn't it exist? FIN222: Principles of Risk Management and Insurance Creating an Insurance Policy Students are required to creatively craft an insurance policy that may be sold by private insurance companies. The policy must be an exclusive idea, meaning it can't already exist in the Insurance Industry. Project organization is shown below: Part 1 - Introduction: Detailed introduction of the policy. What customers is the policy made for? Rate making: Premium and deductible size, show calculations. (Chapter 7). Part 2 - Technical Aspects: Does the policy fulfil the six requirements? If not how can it be altered? (Chapter 2) What marketing channels will the insurance company use to distribute their new policy? (Chapter 5) Financial performance and analysis (Chapter 7). Part 3 - Written contract: Example of Insurance Policy Contract (Chapter 10). Legal characteristics of insurance contract (Chapter 9). Part 4 - Conclusion: Why have you chosen this policy? What is its importance in the society we live in? Is it feasible? Why doesn't it exist
