Effective Communication for Actuaries

Teachers

Included in study programs

Teaching results

Completion of the course Effective communication of actuaries presupposes the development of communication skills and skills in the decision-making process in actuarial practice (also in context ERM).
Knowledge
At the level of knowledge, the student will gain modern knowledge of effective communication, understand the functioning of formal and informal communication flows, the theoretical basis of professional managerial verbal and nonverbal communication.
Competences
To teach students to professionally use individual components of effective communication in interpersonal in-house work processes in correlation with European standards. To teach students to compile and apply in actuarial practice a communication model supporting the applied management style and corporate culture of the organization. To teach students to use communication strategies to resolve interpersonal and inter-group conflicts and to promote the strategic interests of the insurance company.
Skills
In practical skills, the student will gain the ability to present actuarial ideas and arguments, both in written and oral form so that they are understandable to non-actuaries. It is expected that the actuar will be able to prepare a draft written document for non-actuaries, which will explain the basic principles and will not contain incomplete or false facts or unconfirmed opinions. It is also expected that the actuary is able to lecture on a professional topic in front of laymen.

Indicative content

1. Techniques used in effective oral and written communication
2. Effective communication techniques to communicate the results of actuarial work to the relevant audience of co-workers, managers or guests.
3. Preparation of a comprehensive summary of technical actuarial results.
4. Preparation of an effective management summary for the result of the actuarial work.
5. Creation of permanent documentation for the result of actuarial work.
6. Problem solving and decision making in actuarial work.
7. Culture and structure of the organization in the decision-making process.
8. Factors of the decision-making process.
9. Time management.
10. Project management.
11. Professional standards.
12. Ethics of actuarial work.
13. Professional misconduct. Obligations of the actuar. Public interest. Frauds.

Support literature

1. CARDON, P. Business Communication. Developing Leaders for a Networked World. 4th edition. McGraw-Hill Education, 2020.
2. GUFFEY, M. E. Essential of Business Communication. Cengage Learning, 2018.
3. COOK, G. Guide to Business Etiquette. Pearson, 2010.
4. FITZGERALD, J. Business Data, Communications and Networking. Wiley, 2017.
5. MCLEOD, V. Effective Communication at Work. Rockridge Press, 2020.
6. CIPRA, T. Riziko ve financích a pojišťovnictví: Basel III a Solvency II. Praha : Ekopress, 2015.

Syllabus

1. Techniques used in effective oral and written communication 2. Effective communication techniques to communicate the results of actuarial work to the relevant audience of co-workers, managers or guests. 3. Preparation of a comprehensive summary of technical actuarial results. 4. Preparation of an effective management summary for the result of the actuarial work. 5. Creation of permanent documentation for the result of actuarial work. 6. Problem solving and decision making in actuarial work. 7. Culture and structure of the organization in the decision-making process. 8. Factors of the decision-making process. 9. Time management. 10. Project management. 11. Professional standards. 12. Ethics of actuarial work. 13. Professional misconduct. Obligations of the actuar. Public interest. Frauds.

Requirements to complete the course

20 % semester seminar work, resp. project,
10 % continuous processing of case studies.
70 % combined exam.

Student workload

Total study load (in hours): 130 hours
52 hours of exercise,
30 hours of self-study in preparation for the exam,
24 hours preparation for seminars,
24 hours elaboration of a semester project.

Language whose command is required to complete the course

slovak

Date of approval: 10.02.2023

Date of the latest change: 15.05.2022