Banking and insurance companies: management and organization from tradition to innovation (fintech/insurtech - global risks management)
According to the objective of the Degree curricular program, The course aims at presenting the structure, operating principles and some products of banks and insurance companies. The focus will be on the evolution from the traditional banking and insurance business to the "tech" business, with the relevant organizational implications and innovations. Specific reference will be made to the Italian and American markets, complemented by relevant examples from other countries.
Innovations will also be analyzed with reference to the contingent situation: from natural catastrophes to pandemic insurance products.
Theory and practical examples taken from the USA and Italy/Europe and other areas of the World will deal with the following aspects of banking and insurance: -Financial intermediation: bank and non-bank financial intermediaries -Bank structures, operations, and cultural influence. -Bank operations: consumer loans -Bank performance. -The concept of risk, financial risk and other risks. The concept of insurance. -Main products of insurance companies. Insurance policies and premia calculation. -Insurance companies and markets. The financial crisis and the role of banks and insurance companies (invited speaker or practical examples).
The course is based on materials developed in class. The two books indicated below should be considered as background material.
-Anthony Saunders and Marcia Millon Cornett, "Financial Institutions Management: A Risk Management Approach", International Edition, McGraw-Hill Irwin, 2003, ISBN0 0-07-119887-3
-Emmet J. Vaughan and Therese Vaughan, "Fundamentals of Risk and Insurance", 9th Edition, John Wiley and Sons, 2003, ISBN 0-471-21687-9.
Lectures, exercises, group works, guest speakers
Final grade is based on:
-quality of in-class participation 15%
-group work 15%
-individual reports from the field visits/invited speakers 15%
-written exam 55%
The written exam comprises open questions, requesting short answers, and some multiple choice questions.
The course is offered in English within the Summer Business Program a.a. 2019-20 (only for students of the undergraduate programs in “Economia”, “Economia aziendale” and foreign/Erasmus students). A maximum number of students is accepted. In order to be considered, students must apply, following the instructions for the Summer Business Program a.a. 2019-20 published on website https://www.unibg.it/node/388.
Attendance is compulsory, max 25% absence rate is admitted.
Reference person for the Summer Business Program: prof. Mauro Cavallone
Course given by: prof. Laura Viganò