<p>This lesson will apply different methods of conditional probability in context of the insurance industry. Students will practise their use of triple Venn diagrams, tree diagrams and two-way tables to various real-world problems in the world of insurance. Students will use their understanding of conditional probability to extract the appropriate figures to solve the problems. There will also be an opportunity for students to create their own problems to test each other as well as their own understanding of conditional probability.</p>

<p>This lesson will explore how risk can affect businesses, alongside how insurance can be used to support businesses with mitigating risks. Students will discover an array of different types of risk that could affect businesses and feel confident at identifying internal and external risks. They will look at how making a plan reduces the impact of risks on business and therefore helps to mitigate risks. Common risk mitigation strategies will be introduced and explored in a range of situations. These strategies will be applied to an example business where students are provided with a risk matrix to support them in practicing to complete a risk assessment.</p>

<p>The insurance industry is a great place to start and grow a career. This teaching resource will explore the different careers available in the insurance industry including: insurance broker, insurance underwriter, actuary and claims adjuster. Students will discover more about the roles and responsibilities associated with these different career options. They will reflect upon the skills needed to be successful in these roles. Students will also demonstrate where they have used these skills in their own lives to support them in considering a career in the insurance industry in the future.</p>

<p>This lesson will explore how the insurance industry adapts to meet the needs of society. Students will investigate the need for insurance in a developed society by postulating what would happen in a world without insurance. They will discover how destruction caused by natural disasters could impact individuals, businesses and society as a whole. A case study is utilised in this teaching resource to explore, in a real-world context, how the insurance industry has adapted over the last 100 years to meet the needs of society. Students will then apply their work from the case study to make informed predictions about the future of the insurance industry.</p>

<p>This lesson will explore the issues associated with the stability of global systems and how this impacts the insurance industry. Students will gain an understanding about why we have insurance for a variety of unexpected events. They will categorise these unexpected events into the four principal global systems. There are predicted changes that affect the global systems; the topics that will be explored are international trade, decline of Human Development Index (HDI) and Global Environmental Change (GEC). Students are going to discover the challenges and provide solutions to the predicted changes for each of the global systems. Students will then apply their knowledge to how these can impact upon the insurance industry.</p>

<p>This lesson will explore the development of the modern insurance industry. Students will investigate the origins of insurance looking as far back as the Babylonians in 1750 BC. They will discover the beginnings of modern insurance focusing on property and business insurance, national insurance and life and accident insurance. By delivering a presentation, students will gain a deeper understanding as well as developing their presentation, team work and communication skills. There will also be an opportunity to practice an exam question to apply their knowledge of the historical events from the 1600s to 1900s to the modern insurance industry.</p>