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CourseInsurance, Risk & Actuarial Data Applications open

Course in Climate Risk Models Applied to Insurance

Online course of 300 h in climate risk models applied to insurance. 6 modules with TCFD Recommendations, IFRS S2 (climate-related disclosures) and CLIMADA. Assigned tutor and open enrolment.

Duration300 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute certificate
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Learning outcomes

What you will be able to do

01

Explain the transmission channels of climate risk to insurance.

02

Interpret reference climate scenarios, such as those of the NGFS.

03

Translate climate variables into insured losses.

04

Integrate climate risk into pricing, underwriting and investments.

05

Carry out climate stress tests and scenario analysis.

06

Prepare climate disclosures in line with reporting frameworks.

07

Develop an integrative project on climate risk assessment.

Profile

Who it's for

  • Climate risk analyst wishing to specialise in Climate Risk Models Applied to Insurance.
  • Sustainability actuary wishing to specialise in Climate Risk Models Applied to Insurance.
  • Catastrophe modeller wishing to specialise in Climate Risk Models Applied to Insurance.
  • ESG risk manager wishing to specialise in Climate Risk Models Applied to Insurance.
  • Climate reporting consultant wishing to specialise in Climate Risk Models Applied to Insurance.
  • Stress testing analyst wishing to specialise in Climate Risk Models Applied to Insurance.
  • Engineering or science graduates seeking to join insurance companies.
Standards & tools

What you'll work with

  • TCFD Recommendations
  • IFRS S2 (climate-related disclosures)
  • Directive (EU) 2022/2464 (CSRD)
  • Regulation (EU) 2020/852 (Taxonomy)
  • NGFS climate scenarios
  • EIOPA Opinion on climate change scenarios in the ORSA (2021)
Syllabus

6 modules · 300 h

  1. 1.1Acute and chronic physical risks
  2. 1.2Transition and liability risks
  3. 1.3Time horizon versus the annual policy
  4. 1.4Tragedy of the horizon
  5. 1.5Supervisory expectations
  6. 1.6Impact by line of business
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Key scientific sources
  9. 1.9Uncertainty and its communication
  10. 1.10Exercise: climate risk map of an entity
  1. 2.1Emission pathways and scenarios
  2. 2.2Global and regional climate models
  3. 2.3Downscaling and its uncertainty
  4. 2.4Temperature and precipitation projections
  5. 2.5Changes in extreme events
  6. 2.6Sea level and coastal areas
  7. 2.7Economic transition scenarios
  8. 2.8Analysis horizons
  9. 2.9Limitations of scenarios
  10. 2.10Practice: selecting scenarios for an analysis
  1. 3.1Impact chain: hazard, exposure and vulnerability
  2. 3.2Adjusting catastrophe models
  3. 3.3Effect on frequency and severity
  4. 3.4Change in portfolio exposure
  5. 3.5Claims inflation risk
  6. 3.6Unmodelled risks
  7. 3.7Analysis by region and line of business
  8. 3.8Validation against observed trends
  9. 3.9Propagation of uncertainty
  10. 3.10Practice: adjusting a model by scenario
  1. 4.1Underwriting and risk selection
  2. 4.2Pricing and its review
  3. 4.3Product design and prevention
  4. 4.4Reinsurance decisions
  5. 4.5Investment portfolio management
  6. 4.6Insurability and market withdrawal from areas
  7. 4.7Dialogue with clients in transition
  8. 4.8Entity objectives and pathways
  9. 4.9Climate litigation risk
  10. 4.10Practice: underwriting decision with scenarios
  1. 5.1Climate risk governance
  2. 5.2Integration into risk management
  3. 5.3Supervisory climate stress tests
  4. 5.4Own risk and solvency assessment
  5. 5.5Sustainability reporting and metrics
  6. 5.6Validation and documentation of the analysis
  7. 5.7Reporting to the board
  8. 5.8Team training
  9. 5.9Evolution of regulatory expectations
  10. 5.10Practice: designing a stress test
  1. 6.1Choice of portfolio and scope
  2. 6.2Scenario selection
  3. 6.3Physical and transition risk analysis
  4. 6.4Quantification of portfolio impact
  5. 6.5Proposed business decisions
  6. 6.6Climate stress test
  7. 6.7Governance and reporting plan
  8. 6.8Monitoring indicators
  9. 6.9Analysis report
  10. 6.10Project defence
Methodology, software & labs

How you'll learn

Training 100 % online on the SEIUM campus, with downloadable material, recorded classes and assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, which makes it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is CLIMADA, Copernicus Climate Data Store, Moody’s RMS, Python (xarray), R, in free, academic or evaluation versions. The exercises are based on real climate stress-testing procedures, scenario analysis in the ORSA and projection of losses from physical hazards. Assessment is continuous by module, plus the final integrative project.

Accreditable laboratories(EN ISO/IEC 17025) with rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented Master's Thesis (final project):safety case, test plan, compliance dossier and operating limits.
Industry-mentored:lecturers with a track record in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:safety-by-design approach, ciber-OT, DIH and compliance as pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Choice of portfolio and scope

Explain the transmission channels of climate risk to insurance.

Scenario selection

Interpret reference climate scenarios, such as those of the NGFS.

Physical and transition risk analysis

Translate climate variables into insured losses.

Quantification of portfolio impact

Integrate climate risk into pricing, underwriting and investments.

Proposed business decisions

Carry out climate stress tests and scenario analysis.

Career opportunities

Where this takes you

Climate risk analystSustainability actuaryCatastrophe modellerESG risk managerClimate reporting consultantStress testing analyst
Admissions & scholarships

Requirements

  • No prior degree is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient Spanish to follow the reading of technical regulations.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme totals 300 hours, spread over 3 to 5 months. That is between 10 and 15 hours per week on average, compatible with full-time work.

Work is carried out with CLIMADA, Copernicus Climate Data Store, Moody’s RMS, Python (xarray), R. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM own diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official Ministry qualification.

Yes. Modules passed in a course or postgraduate diploma in the same area are credited towards the higher programme. Check the credit transfer policy when you enrol.

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