The Rehabilitation Program for the Insurance Fundamentals Certificate (IFCE)
Professional certification related to this course
The Rehabilitation Program for the Insurance Fundamentals Certificate (IFCE)
Insurance is one of the most important financial tools that contributes to risk management and achieving stability for individuals and organizations. It is not limited to protecting assets and financial resources; rather, it represents a fundamental pillar in supporting economic development and enhancing social security. In the Kingdom of Saudi Arabia, the insurance market continues to grow steadily, with an increasing number of insurance companies and an expansion of services designed to meet the needs of both individuals and businesses.
This program focuses on providing a comprehensive understanding of the concept of insurance and its importance, while highlighting the nature of the insurance market in the Kingdom, including its key stakeholders, innovative insurance products, and regulatory policies and procedures. The program aims to enhance participants’ competencies in the insurance field by strengthening their knowledge of insurance fundamentals, market mechanisms, and best practices in customer service and risk management.
Enable participants to understand the concept and fundamentals of insurance.
Help participants understand the concept of risk as the core element of the insurance industry and the principles associated with it.
Explain the nature of the insurance market in the Kingdom of Saudi Arabia and its key participants.
Enable participants to understand the nature of insurance services and how they meet customer needs compared to tangible goods.
Introduce participants to the main functions of insurance companies and the challenges they face.
Enhance participants’ understanding of the role of sales staff in achieving insurance company objectives.
Provide participants with fundamental knowledge of customer service and market behavior.
Prepare participants to sit for the professional certification exam Insurance Foundations (IFCE).
Concept of risk
Risk and insurance
Types of risk
Insurable risks
Non-insurable risks
Insurance as a method of risk transfer
Causes and factors affecting insurance
Benefits of insurance
Principle of utmost good faith
Principle of insurable interest
Principle of indemnity
Principle of subrogation
Principle of contribution
Principle of proximate cause
Definition of the insurance contract
Elements of the insurance contract
Essential components of the insurance contract
Practical stages of the insurance contract
Characteristics of the insurance contract
Regulatory and supervisory authorities of the insurance market in the Kingdom of Saudi Arabia
Cooperative insurance and reinsurance companies
Insurance companies and independent insurance professionals
Organizational structure of insurance companies
Key procedures and functions of insurance operations
Individual insurance products
Corporate insurance products
Core principles of effective customer service
Fundamentals of the customer service process
Effective communication mechanisms with customers
Understanding customer rights and responsibilities
Product development risks
Underwriting risks
Pricing risks
Claims settlement risks
Financial solvency of insurance companies
Credit risks
Information technology risks
Exposure to insurance fraud
Shortage of qualified human resources
Insurance awareness and culture
Reinsurance risks
Reputational risks
Non-compliance risks
Risks arising from regulatory or governmental changes
Money laundering and terrorism financing risks
Practical applications and exam preparation exercises
IFCE – Insurance Foundations Professional Exam
Issued by The Chartered Insurance Institute (CII)
The Insurance Foundations Professional Exam is a mandatory requirement set by the Insurance Authority to work in the insurance sector. The exam covers regulatory frameworks, operational controls, and the fundamentals of insurance operations. It contributes to verifying the eligibility of insurance sector employees by ensuring they possess the minimum level of knowledge and skills required to work in this field.
Maximum reimbursement for certification costs: SAR 2,495
Certification approval under the program: December 2025
Employees of insurance companies
Insurance brokers and insurance agents
Insurance department staff in hospitals and medical centers
Insurance department staff in companies and institutions
Risk management professionals across various types of organizations
Financial department employees whose work is related to insurance
Individuals seeking to work in the insurance market
Anyone seeking academic and professional qualification in the field of insurance
