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 Outline
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 Modules
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
Related Courses
Course Administration Details
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
Tailor-Made
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:
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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