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530 Economics and Business

Navigating your ACII

Using This Course (3:42)
Approaching Coursework (11:45)
The Marking Grid (10:01)
Referencing (8:01)
ACII Journey Mapping (10:26)
Introduction to Contexts (10:44)

Interviewing the Industry

NICK KIRK - The supply and demand of insurance - Capacity - Global Financial Crisis (10:16)
NICK KIRK - Competition - London Market (6:53)
PAUL SKINNER - Marketing - Marketing activities - The marketing department (5:18)
RICHARD WOOLER - Refining Investment Practice - External environment - Opportunities (2:25)
RICHARD WOOLER - Monetary and Fiscal Policy and New Governments - Inflation - Economic Cycle (4:26)
RICHARD WOOLER - How central banks influence supply - Interest rates (4:59)
JOHN CONSTABLE - Corporate governance - Corporate strategy - Culture (20:14)
JOHN CONSTABLE - Emerging risks - COVID-19 - Climate change - Contract certainty (9:21)
MARK BUTTERWORTH - Risk acceptance policy - Strategic business planning - Barriers to entry (10:44)
MARK BUTTERWORTH - Outsourcing risk - SLAs - Auditing (12:32)
MARK BUTTERWORTH - Choice of domicile - Brexit - Captives - Regulatory environments (7:31)
MARK BUTTERWORTH - Corporate governance - UK Corporate Governance Code (12:43)
NOUSHEEN HASSAN - Solvency II - Evolution of risk management - ORSA (6:07)
NOUSHEEN HASSAN - Market trends - PRA guidance - Business continuity (8:07)
RACHEL PANKRATZ - Public relations - Crisis management - BCP - Deepwater Horizon (8:25)
ROSEMARY BEAVER - Risk culture - Critical stakeholders - Brand (3:44)
ROSEMARY BEAVER - Business ethics - Business failure - Corporate governance (8:31)
ROSEMARY BEAVER - COVID 19 - STRESS TESTING - INVESTMENT RISK (7:19)
ROSEMARY BEAVER - Emerging risks - Climate change - Latent risks (7:16)
ROSEMARY BEAVER - Corporate Governance - Regulators - ESG (2:44)
SAMANTHA RIDGEWELL - workforce – talent – labour supply (12:20)
SAMANTHA RIDGEWELL - labour policy – talent – upskilling (5:55)
SUNEETA PADDA - Crisis management - BCP - Operational resilience (8:16)
SUNEETA PADDA - Market trends - Emerging risks - Brexit - Climate change (5:17)
SUNEETA PADDA - Corporate governance - SMCR (6:06)

Technical Topics

Sources of Business Financing (4:06)
Economic Systems (2:54)
Resources Used by the Insurance Industry (1:39)
Technological Issues for the Insurance Industry (1:37)
International Trade (3:52)
Demand and Supply in the Insurance Industry (3:54)
Competitive Market (6:26)

Refreshers

Management accounts (1:53)
UK Corporate Governance Code (4:48)
Budgeting (2:46)
Major Events and Trends (6:29)
Capital and Solvency Requirements (2:10)
The Underwriting Cycle (1:50)

Concepts ‘in a nutshell’

ERM & GRC (2:12)
Economics (2:12)
Social Engineering (1:20)
Economies of Scale (1:30)
Capital (1:16)
Monopolies and Oligopolies (1:41)

Perspectives & Scenarios

Corporate Social Responsibility (13:32)
SWOT & PESTLE in practice (22:11)

Snip-it Summaries

Factors of Production (1:11)
The Marketing Mix (1:47)
The Structure of Taxation (2:05)
Barriers to Entry (2:28)
Artificial Intelligence (2:43)
Environmental, Social and Governance (ESG) (2:54)
Consumer Duty (3:32)

Research Resources

530 Economics and Business Specimen Coursework
General ACII resources
Lloyd's Annual Report 2022
Lloyd's Annual Report 2023
CII Credit Calculator
CII eLibrary

Future Development

Course Feedback

The nature of economic systems

Basic concepts, the economics of special markets, the marketplace - Econlib
Outline of economies
American Economic Association Website
Adam Smith - Econlib
Milton Friedman - Econlib
Karl Marx - Econlib
No Going Back: State of Social Enterprise Survey 2021 - Social Enterprise UK
Charity Commission for England and Wales - UK Government
United States Economic Data and Projections - Focus Economics
World Bank Group - Economic Prospects
Kyoto Protocol - United Nations Climate Change
The Intergovernmental Panel on Climate Change - ipcc
Economics Defined with Types, Indicators, and Systems - Investopedia
Factors of production - BBC
Microeconomics vs. Macroeconomics: What’s the difference? Investopedia
Economic systems - Corporate Finance Institute
GDP quarterly estimate - Office for National Statistics
UK economy forecast - KPMG
World Economic Forum Website

The UK insurance industry and its role in the economy

Micro Insurance Network Website
The Impact of Climate Change on the UK Insurance Sector - Bank of England
Insurance and Geopolitics: Is Geopolitical Confrontation Making International Business Uninsurable? AEI
UK Market Insights - ICMIF
The London Market Grows Contribution to UK Economy to £50billion
What 6 key challenges will insurers face in 2024? RPC
The Talent Shortage Crisis - CII
Insurance industry urged to be transparent and honest to combat talent shortage - Insurance Times
2024 Insurance M&A Outlook - Deloitte
Navigating geopolitical threats in the insurance market: Strategies for success - Norton Rose Fulbright
Lloyd’s geopolitical conflict scenario sees global economy exposed to $14.5tn loss
Top investment considerations for insurers 2024 - Mercer

Business culture, corporate governance and risk management

Transforming Culture in Financial Services - FCA
Centre for Alternative Technology Website
Sustainable Development Goals - United Nations
Greensill Scandal Explained - Finance Focused
What are common code provisions? ECI
Guidance for firms on the fair treatment of vulnerable customers - FCA
Consumer Duty Alliance - Guides and Support
CII Code of Ethics
Transparency and Insurance: a Companion to the Code of Ethics - CII
Good leadership: Culture, ethics and conduct in financial services - CMI
Final non-Handbook Guidance for firms on the Consumer Duty - FCA
The Senior Managers and Certification Regime: Guide for FCA solo-regulated firms - FCA
Organisation for Economic Co-operation and Development Website
The Ethics of Artificial Intelligence - European Parliament
Ethics and Sustainability Report - John Lewis Partnership
Corporate Social Responsibility - United Nations
Corporate Sustainability Reporting - European Union
Enhancing climate-related disclosures by asset managers, life insurers, and FCA - regulated pension providers - FCA
Sustainability Reports - Website
Environmental, Social and Governance - KPMG
What is ESG? A Guide for Businesses - British Business Bank
UK Corporate Governance Code - Financial Reporting Council
Corporate Governance - CIPD
Code of Conduct (COCON) - FCA
An Example of an Insurance Company’s Approach to Climate Change - Zurich
Natural disaster risks - Munich Re
Growing risks from quantum computing
The Psychology of Security - Schneier
Ranking Risks: Rare to Certain, Negligible to Catastrophic- Project Smart
Market Oversight - Lloyd’s
Financial Services Risk Trends - Allianz
Crisis Management - AIRMIC
In a changing climate, the role of insurance will have to be much bigger - Allianz
ESG scores: Why and how insurers should prepare for ESG rating agency regulation - WTW
Insurance and ESG: Stakeholder expectations - Insure TV
Insurance & ESG - What do stakeholders think? InsureTV
Environmental, Social and Governance Strategies in Insurance: A guide for SME brokers - CII
Changes to the Corporate Governance Code (UK) - Kennedy’s
The 2024 UK Corporate Governance Code - EY
UK Corporate Governance Code 2024 Guidance - Norton Rose Fulbright
What are Risk Management Information Systems and where do they add value? - Zurich
Risk Management Information Systems are a necessary part of a risk mature organisation - Zurich
A structure approach to Enterprise Risk Management (ERM) and the requirements of iso 31000
Climate Change and the Insurance Industry - Norton Rose Fulbright
The role of insurers in tackling climate change: Challenges and Opportunities - EIOPA
Catastrophe Modelling and Climate Change - Lloyd’s
Greenwashing and next steps for the insurance industry - Hymans

Demand and supply

Demand - Econlib
Alfred Marshall - Econlib
Price elasticity of demand - Wikipedia
Managing the insurance market cycle - Gallagher
The insurance market cycle - Robertson Ryan
Managing the market cycle podcast - WTW
Staying ahead of the insurance market cycle - Gallagher Re

Nature of competition

Competition - Econlib
Monopoly - Econlib
Competition and Markets Authority Website
Retail banking - An example of CMA market investigation
Herbert Alexander Simon - Econlib
An Introduction to Behavioural Economics
How data makes insurance work better for you - ABI
Benefits and use cases of AI in insurance - Swiss Re
Asset-backed pensions - OECD
5 factors that influence competition in microeconomics
How to maximise profit with marginal cost and revenue
Market Structure - Corporate Finance Institute
4 things to consider when choosing an international insurer - Airmic
How competitors can concrete the future of insurance - EY

The national economy and money

UK National Accounts, The Blue Book - Office for National Statistics
John Maynard Keynes - Econlib
United Kingdom Household Saving Ratio - Trading Economics
Further details about M0 data - Bank of England
Further details about M4 data - Bank of England
Monetarism - Econlib
People in work - Office for National Statistics
Gross National Product - Britannica Money
Gross Domestic Product : An Economy’s All - IMF
Gross National Income (GNI) - Investopedia
Money in the modern economy: an introduction - Bank of England
Money Supply Definition: Types and How it Affects the Economy - Investopedia
Aggregate Supply and Demand - Corporate Finance Institute
Underwriting - Managing the Cycle

Unemployment and inflation

The World Factbook - CIA
OECD Data Explorer
Ageing Population - Office for National Statistics
The Path to Hyperinflation: Venezuela - Forbes
Eurostat Website
How the Unemployment Rate Affects Everybody - Investopedia
Inflation: Prices on the rise - International Monetary Fund
What is inflation? - McKinsey

Monetary and fiscal policies

Bank of England Research Website
European Central Bank Website
Japan Recession - NDTV
Monetary Policy vs. Fiscal Policy: What’s the difference?
Monetary policy - Bank of England
Fiscal Policy: Taking and Giving Away - International Monetary Fund

The international economy

Comparative Advantage - Economics Online
European Union Website
The Treaty of Lisbon - European Parliament
Brexit Analysis - Office for Budget Responsibility
EU Position in World Trade - European Union

Financial aspects

Mandatory ESG Reporting Requirements - KPMG
The next frontier for sustainable growth: Capturing the cost advantage of direct insurance - McKinsey
A Digital Reckoning for Insurance Companies - Bain and Company
Economic Profit
Why benchmarking alone isn’t enough in today’s risk landscape - WTW
Insurance 360 Benchmarking Tool - McKinsey
Budgeting - Corporate Finance Institute
Sources of Finance - Corporate Finance Institute

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