PURPOSE
The purpose of this qualification is to prepare a learner to operate as an insurance underwriter. An insurance underwriter evaluates and interprets information to protect stakeholders’ interests using specialist technical knowledge to determine, price, manage and transfer risk.
A qualified learner will be able to:
- Apply and adhere to operational and administrative procedures and practices
- Evaluate the risk information to determine risk profile and manage risk exposure
- Apply basic legal and insurance principles to underwriting recommendations
- Apply knowledge of product and pricing to arrive at an equitable underwriting decision
COURSE CONTENT
Module 1: Principles of Insurance
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- Application of legal and insurance principles
- Apply basic legal and insurance principles to underwriting recommendations
- Application of legal and insurance principles to underwriting processes
Module 2: Records Management
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- Administration and record keeping in insurance
Module 3: Administration Policies and Procedures
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- Apply and adhere to operational and administrative procedures and practices
- Exposure to operational and administrative underwriting procedures and practices
Module 4: Product Pricing
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- Rating and pricing of insurance risks and products
- Knowledge of product and pricing to underwrite profitable risks
- Exposure to processes and factors leading up to final underwriting decision
Module 5: Risk Management
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- Insurance risk management for underwriters
- Evaluate risk information to determine risk profile and manage risk exposure
- Evaluation and management of risk profile and/or exposure
DELIVERY
- Duration: 24 Months
- Delivery: Classroom/Online/Blended
ENTRY LEVEL REQUIREMENTS
- NQF Level 4 qualification
CAREER POSSIBILITIES
Qualifying learners could follow a career in:
- Insurance Underwriter
- Senior Underwriter
- Underwriting Manager
- Risk Analyst
ACCREDITATION
- Occupational Certificate: Insurance Underwriter
- Accreditation: QCTO
- SAQA ID: 117329
- NQF Level: 5