CMA to host training programme for insurance sector

Business Sunday 11/November/2018 15:32 PM
By: Times News Service
CMA to host training programme for insurance sector

Muscat: The Capital Market Authority (CMA) continues its efforts of organising training programmes for the current year as part of its strategy to empower the national cadres working in the insurance sector.
To this end, a training programme will be held this week, in collaboration with the College of Banking and Financial Studies (CBFS) to acquaint the trainees with statistical skills for risk analysis.
The importance of the three-day course is due to the fact that insurance contracts are based on the probability of occurrence of damage and the importance of statistics in analysing similar cases to find out the probabilities of risks and pricing of the insurance and determining the premium.
The course will cover central trends measures, variation measures and descriptive statistics in analysing insurance policy data and population theories using ANOVA t-test, chi-square, as well as testing relationships between the variations such as sales and marketing expenses, correlation and retrogression coefficient, variations and seasonal trends in time series analysis.
Tamkeen aims to enhance the representation of national cadres in the medium and senior roles rather than junior positions as per specified ratios to reach Omanisation ratios of 50 per cent in senior positions, 75 per cent in medium positions and 90 per cent in operational positions gradually until 2020.