Risk Based Underwriting Course


Introduction

Insurance Business can succeed by proper access to and use of authentic detailed underwriting and claims data.  This is a prerequisite to successful move to freedom in market.  Kenyan market should compile / share sufficient and detailed data required for actuarial analysis and pricing.  Rating based on limited data could mean a repeat of the 1994 marine experience.  The communication and negotiation skills for service and efficiency will have a prominent role in new environment.   Underwriting, an individual company’s prerogative; can be used as a tool for marketing and profitability of operations.

Duration

5 Days

Who Should Attend

Underwriters, Compliance Officers, Officers In charge of Claims Dept., Officers of IT Dept., Officers of Underwriting Audit Department and such other officers

Course Objectives

  • Acquaint with underwriting knowledge in specific lines – Fire, Marine, Engineering, Motor (auto), Miscellaneous Liability, Health.
  • Understand relevance of actuarial practices for sound and prudent underwriting
  • Impact of changing scenario in on Reinsurance build up
  • Acquire an integrated view of underwriting and related insurance operations

Course Outline

  • Actuarial Application in Non-Life Insurance
  • Pricing of  Products and new riders
  • Identification of data needs, collection of data; Analysis & Valuation
  • Risk Inspection as a tool for greater understanding of risk
  • Evaluating risk:  Hazard & Hazop Analysis
  • Evaluation of Proposals, Reporting of risk to the company
  • Training Underwriter: Classes of Risks for internal lines
  • Identification of rating factors for every subclass
  • Rating of risk and determining the terms and conditions of cover – quoting rates
  • Internal audit of underwriting policy & philosophy
  • Reinsurance as a tool for better underwriting
  • IT Requirements in prudent underwriting
  • Methods for Data Compilation – Centralized data warehouse, data extraction and analysis

Enroll for this Course

We are proud to offer this course in a variety of training formats to suit your needs.

IRES

Enroll to In-Person (Face to Face)

We use the highest quality learning facilities to make sure your experience is as comfortable as possible.

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IRES

Enroll for a Virtual Zoom Class

Join a scheduled class with a live instructor and other delegates.

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IRES

Enroll for Online Self-paced Class

Keep track of your own progression throughout your course and ensure continuous improvement.

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Benefits of Taking a Course at IRES

LEARN

Our courses are carefully curated to keep you abreast of latest industry trends, technological advancements, and best practices. We employ a variety of teaching methodologies, including hands-on workshops, case studies, and interactive sessions, all aimed at fostering an engaging and effective learning environment. Our expert instructors bring a wealth of knowledge and real-world experience, providing our clients with insights that can be immediately applied in their professional lives.

NETWORK

Our courses serve as a vibrant platform for professionals to connect and engage with a diverse community of peers, industry leaders, and experts. By participating in our programs, you gain access to an invaluable network that spans across various sectors and geographical boundaries. This networking aspect is not just about forming professional relationships; it's about creating a supportive ecosystem where ideas, opportunities, and collaborations can flourish.

GROW

Our courses are designed to challenge and inspire professionals to step out of their comfort zones and explore new horizons. Through a combination of theoretical knowledge and practical application, our programs help professionals refine their existing skills and acquire new ones, making them more versatile and competitive.

FAQs & Course Administration Details:

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on Phone: +254 715 077 817 or Email: [email protected].
The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Payment should be transferred to IRES account through bank on or before start of the course. Send proof of payment to [email protected].
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer. Email: [email protected] Phone: +254 715 077 817.