Bachelor of Commerce (with a major in Short-term insurance)

The current drive to expand and professionalise the short-term insurance industry requires the development of people with general business management skills and an in-depth understanding of the workings of the short-term insurance industry. Milpark Education's Bachelor of Commerce with a major in Short-term Insurance meets this need and provides a strong foundation in general business principles and the required accounting, marketing, economic and quantitative skills, whilst, the elective modules allow the student to acquire detailed knowledge of the key principles, rules and theories that underpin the short-term insurance industry.

Combined with a sound understanding of the regulatory environment, the wide range of products available and of the practices involved with claims, underwriting procedures and the principles of risk management and reinsurance, students will develop to be able to make ethical and professional decisions based on short-term insurance industry-specific scenarios.

This qualification meets the educational requirements for the designation of Fellow awarded by the Insurance Institute of South Africa (IISA). It may offer various career opportunities, including broker consultant, claims manager, insurance administrator, insurance broker, loss adjuster, insurance assessor, reinsurance, underwriting or claims manager, or insurance risk manager.

On successful completion of the Bachelor of Commerce with a major in Short-term Insurance, students will be able to:

• demonstrate a general understanding of the business environment (including business management, marketing and accounting).
• demonstrate a functional knowledge of Short-term Insurance

The qualification meets the educational requirements for the designation of Fellow awarded by the Insurance Institute of South Africa (IISA). The completion of this qualification may offer opportunities in the following career paths:

• Broker consultants
• Claims managers
• Insurance administrators
• Insurance Brokers
• Loss adjusters
• Insurance assessors
• Reinsurance
• Underwriting or Claims Managers
• Insurance Risk Managers

Year 1

• Induction to Business Studies
• Business Numeracy
• Principles of Accounting
• Introduction to Business Management
• Principles of Microeconomics
• Legal Framework
• Economics 1B
• Accounting 1B
• Business Law
• Personal Lines Insurance

All modules are compulsory.

Year 2

• Economics 2A
• Commercial Lines Insurance
• Marketing Management Practice
• Regulatory Environment and Liability Insurance (S1)
• Claims and Underwriting Practice (S2)
• Business Management 2B

All modules are compulsory.

Year 3

• Business Management 3A
• Economics 3A
• Risk Management (S1 and S2)
• Commercial Property and Business Interruption Insurance (S1)
• Reinsurance (S2)
• Advanced Insurance Products (S2)
• Case Study (S2)

All modules are compulsory. S1 denotes Semester 1, S2 denotes Semester2