In your academic journey with Insurance Business and Economics, you will develop knowledge of the environment in which businesses operate; the economic, operational, ethical and financial framework with particular application to the transaction of insurance business.
This text provides a practical, managerial approach to the subject and gives you a rich variety of examples and applications to illustrate the main principles through simple, yet effective learning aids.
Each chapter begins with a list of learning outcomes that you can expect to achieve by studying the topic. This is followed by a statement on why the topic is important. Together, they set out a clear contextual framework for you, within which you will conduct your study, being at all times conscious of why you are studying the topic.
This text begins with a discussion on the relationship between insurance and economics and its association with macro and micro factors. The nature of economic systems and current developments in the global and Malaysian economy are evaluated. Business and society are discussed in the context of economic players leading to how they influence the role of insurance, finance and money in the economy, applying supply and demand concepts, key features of the competitive environment, and aspects of monetary policy, fiscal policy and taxation. The nature and impact of inflation and deflation, employment, free trade, balance of payments, exchange rates, economic business cycles, ethics, corporate governance, and risk management in the insurance industry are discussed. Finally, business organisations and their financial processes are detailed to assist the learner in understanding and applying the concepts and features of financial reports to non-insurance business situations.
Scattered throughout, are insightful thought primers that will set you thinking of what you have just read, learning activities and case studies that will help you reflect on issues as if you were facing them in the real-world.
Towards the end are a collection of rich review questions and tutorial questions to help you assimilate what you have learned and put your knowledge and skills to the test.
Klang Valley, Johor, Penang: 1-3 days; Rest of Peninsular Malaysia: 1-4 days; Sabah, Sarawak, Brunei: 5-7 days. All in working days
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