Insurance Underwriter NQF Level 5 | INSETA

Qualification Overview

This Insurance Underwriter qualification provides comprehensive training in risk assessment, insurance principles, product pricing, and underwriting decision-making. The program combines theoretical knowledge with practical skills needed to excel in professional underwriting roles across various insurance sectors.

Learning Outcomes

Upon completion of this qualification, learners will be able to:

Apply principles of insurance and underwriting practices
Manage records and documentation efficiently
Implement administration policies and procedures
Analyse and price insurance products effectively
Assess and manage various types of risks
Make informed underwriting decisions based on risk analysis

Core Modules

Module 1: Principles of Insurance

• 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

• Administration and record keeping in insurance

Module 3: Administration Policies and Procedures

• Apply and adhere to operational and administrative procedures and practices
• Exposure to operational and administrative underwriting procedures and practices

Module 4: Product Pricing

• Rating and pricing of insurance risks and products
• Apply knowledge of product and pricing to underwrite profitable risks
• Exposure to processes and factors leading up to the final underwriting decision

Module 5: Risk Management

• 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

Career Progression Opportunities

The qualification allows learners to advance their careers both horizontally and vertically within the sector:

Horizontal Progression:

Move to specialised areas such as Marine Underwriting
Engineering Underwriting
Liabilities Underwriting
Reinsurance Underwriting

Vertical Progression:

Senior Underwriter positions
Underwriting Team Leader
Underwriting Manager
Head of Underwriting
Chief Underwriting Officer

Entrepreneurship Opportunities:

Open your own independent underwriting consultancy
Provide risk evaluation services to brokers or SMEs
Offer specialised underwriting advisory services

Work Environment:

Graduates can find employment in:

Insurance companies (long-term and short-term)

Reinsurance companies

Lloyd's syndicates and international insurers

Insurance brokerages

Risk management consultancies

Self-employment as independent underwriting consultants

Career Benefits:

Entry into a profession with identified skills needs
Management concepts exposure for career advancement
Recognition of Prior Learning (RPL) opportunities for experienced professionals
Professional certification from QCTO
Ability to specialise in various underwriting disciplines
Foundation for progression to senior management roles

SpecCon Holdings

Insurance Underwriter

Qualification Overview

Learning Outcomes

Core Modules

Module 1: Principles of Insurance

Module 2: Records Management

Module 3: Administration Policies and Procedures

Module 4: Product Pricing

Module 5: Risk Management

Career Progression Opportunities

Horizontal Progression:

Vertical Progression:

Entrepreneurship Opportunities:

Work Environment:

Career Benefits:

Qualification Details

Career Opportunities

Need Help?

Related Qualifications

Financial Advisor

Claims Administrator

Long Term Insurance Advisor

Insurance Underwriter

Qualification Overview

Learning Outcomes

Core Modules

Module 1: Principles of Insurance

Module 2: Records Management

Module 3: Administration Policies and Procedures

Module 4: Product Pricing

Module 5: Risk Management

Career Progression Opportunities

Horizontal Progression:

Vertical Progression:

Entrepreneurship Opportunities:

Work Environment:

Career Benefits:

Qualification Details

Career Opportunities

Need Help?

Related Qualifications

Financial Advisor

Claims Administrator

Long Term Insurance Advisor

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