Course View Details Public / Tailord

Insurance Underwriting

Exam Simulator Free account on the tests platform
Discount Early Register: 23%
Certificate WFI
CII
Rating

  • To provide knowledge and understanding of the role of underwriting including identification, assessment and acceptance of risk, rating and relevant financial factors.

Target Audience:

  • Underwriting officers at the insurance companies;
  • Claims Officers at the insurance companies;
  • Policy admins in insurance companies;
  • Technical teams at Direct insurance brokers firms and reinsurance broker firms;
  • Technical teams at insurance agents.

Objectives:

 

  • Understand the material circumstances relating to the insurance underwriting process;
  • Understand underwriting procedures relating to the insurance underwriting process;
  • Understand insurance policies in relation to the insurance underwriting process;
  • Understand renewals and cancellation in relation to the insurance underwriting process;
  • Understand personal insurances and commercial insurance in relation to the insurance underwriting process;
  • Understand underwriting considerations in relation to the insurance underwriting Process;
  • Understand the principles, practices of pricing and pricing factors;
  • Understand how to managing exposure within the context of the insurance underwriting process.

 

Assessment Strategy:

Participants will engage with case studies & exercises throughout program. Pre & post program assessment can also be arranged.

Day 1:

Title : Understand the material circumstances relating to the insurance underwriting process

  • Explaining the material circumstances related to the underwriting process;
  • Explain the duty of fair representation;
  • Explain the difference between peril and hazard;
  • Explain how the underwriter will obtain the necessary information.

Title : Understand underwriting procedures relating to the insurance underwriting process

  • Describe the general and specific questions asked of proposers;
  • Describe the procedure relating to quotations;
  • Explain how the underwriter can gather information.

 Day 2:

Title: Understand insurance policies in relation to the insurance underwriting process

  • Explain the structure and function of the insurance policy;
  • Explain conditions and exclusions;
  • Explain deductible and excess.

Title: Understand renewals and cancellation in relation to the insurance underwriting process

  • Describe the renewal legal process;
  • Explain the cancellation clause function.

Day 3:

Title:  Understand personal insurances and commercial insurance in relation to the insurance underwriting process

  • Describe the underwriting criteria for various lines of business such as health, motor and property;
  • Describe how we can detect fraud;
  • Explain the consequences of fraud.

Day 4:

Title: Understand underwriting considerations in relation to the insurance underwriting Process

  • Describe the underwriting criteria for various lines of business such as health, motor and property;
  • Describe how we can detect fraud;
  • Explain the consequences of fraud.

Day 5:

Title: Understand the principles, practices of pricing and pricing factors

  • Explain the importance of claims information on underwriting terms/premium rates;
  • Explain the nature of risk in terms of frequency and severity of claims;
  • Explain the distinction between underwriting year, policy year, accounting year and calendar year;
  • Define risk premium and its key features.

Day 6:

Title: Understand how to managing exposure within the context of the insurance underwriting process

  • Describe the basic factors influencing the market cycle;
  • Describe the principles of risk accumulation;
  • Describe the basic reinsurance considerations including the types of reinsurance.
It has no fixed duration.
Yes, Watan First Institute offers a simulated experimental test platform for the official 30 day online exam free of charge for each trainee

4817.89 SAR

6257 SAR

Including VAT

Course Number: INS-CII-IF3
Course Language: English
Duration: 6 Day(s)