Insurance Underwriting (non-UK) (WUA) provides you with knowledge and understanding of the role of underwriting including identification, assessment and acceptance of risk, rating and relevant financial factors which can be applied to your region. This unit aims to provide you with an understanding of the basic principles of underwriting which you can then apply to the specifics of your region.
- Insurance company’s employees.
- Broking firms’ employees.
- Candidates who wish to pass CII courses.
- Candidates who wish to enhance working skills.
- Companies who wish to have skilled and efficient insurance employees.
By the end of the course, participants will be able to:
Understand the material facts and information 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 in relation to the insurance underwriting process.
Understand commercial insurances in relation to the insurance underwriting process.
Understand the main support/ancillary services available in the insurance services.
Understand underwriting considerations in relation to the insurance underwriting process.
Understand the principles and practices of pricing.
Understand pricing factors within the context of the insurance underwriting process.
Understand managing exposure within the context of the insurance underwriting process.
Pre and Post training test to measure knowledge and learning levels
Engage trainees in exercises and group activities
Evaluation form to be filled by trainees
Module 1 : Material information and facts
- Utmost good faith.
- Material information and material facts.
- Duty of disclosure.
- Non-disclosure and misrepresentation.
- Physical and moral hazards.
- Obtaining material information.
Module 2 : Underwriting procedures
- Proposal forms, new business declarations and statements of fact.
- Premium calculation.
- Policies, cover notes and certificates of insurance.
- Contract certainty.
- Premium payment.
Module 3 : Insurance policies
- Structure, form and content.
- Conditions .
- Excesses, deductibles and franchises 3/9.
- Warranties, conditions and representations 3/10.
Module 4 :Renewals and cancellation
Module 5 : Insurance products: personal insurances
- Motor insurance.
- Health insurance.
- Household insurance.
- Travel insurance.
- Extended warranties.
Module 6: Insurance products: commercial insurances
- Property insurance.
- Pecuniary insurance.
- Liability insurance.
Module 7: Related services
- Authorised repairers and suppliers.
- Risk control and advice.
- Uninsured loss recovery services.
Module 8: Underwriting considerations
- Basic principles of underwriting.
- Specific underwriting considerations.
- Fraud: prevention, detection and consequences.
- Fair treatment of customers.
Module 9: Establishing the price: rating
- Data required.
- Importance of claims information.
- Frequency and severity of claims.
- Claims loss ratios.
- Account performance and monitoring.
Module 10 : Establishing the price: pricing factors
- Risk premium.
- Return on capital employed (ROCE).
- Investment income.
Module 11 : Managing exposure
- Market cycle.
- Risk accumulation.
Select your Suitable Date
75 questions (multiple choice).
No specific requirements.
It has no fixed duration.