General Insurance Underwriting
Gain practical skills, sharpen strategic insights, leverage AI, and supercharge career growth
- Comprehensive introduction to the principles and practices of life insurance from product design to claim settlement.
- Covers both theoretical foundations and practical procedures crucial for all life insurance operations.
- Prepares students for careers in the insurance industry by imparting deep knowledge of key concepts, regulations, and industry practice.
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Program
Highlights
Future-Ready Skills
Professional Growth
Accredited Certification
In-Depth Learning
Skill Enhancement
Career in Finance
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Life Insurance Underwriting
Principles and Practice of Life Insurance
Compliance, Governance and Risk Management in Insurance
General Insurance Underwriting
Principles and Practice of General Insurance
General Insurance Underwriting
Discover How We Efficiently Cover Every Detail?
Module 1: Introduction to Underwriting
- Definition and objectives
- Key principles of Underwriting
- Role of underwriters in the insurance value chain
- Risk perception and selection
- Difference in Life and General Insurance underwriting
Module 2: Risk Classification and Selection Criteria
- Types of risk: Physical, moral, and hazards
- Factors affecting underwriting decisions
- Risk classification systems and rating manuals
- Loss history and prior claims as underwriting inputs
Module 3: Underwriting Process and Tools
- Proposal form and documentation review
- Risk assessment methods: On-site survey, tele-underwriting, digital inputs
- Use of technology, AI, and analytics in underwriting
- Predictive underwriting models
Module 4: Product-Specific Underwriting
- Fire Insurance Underwriting: Location, construction, occupancy, exposure
- Marine Insurance Underwriting: Type of cargo, route, packaging
- Motor Insurance Underwriting: Vehicle type, usage, driver profile
- Health Insurance Underwriting: Age, health history, lifestyle
- Liability Insurance Underwriting: Nature of business, risk exposure
- Cyber Insurance Underwriting: Assessing IT security, breach history
- Aviation & Engineering Insurance Underwriting: High-value risk considerations
- Microinsurance Underwriting: Simplified processes for low-income segments
Module 5: Premium Rating and Pricing
- Rating methodologies: Manual vs Experience Rating
- Loadings and discounts
- Role of actuaries in pricing
- Dynamic Pricing Models
- Regulatory limits and market competition influence
- Competitor Benchmarking
- File & Use regulation by IRDAI
Module 6: Underwriting Documentation and Decision-Making
- Proposal scrutiny checklist
- Communication of acceptance, rejection, or counteroffer
- Policy issuance process
- Importance of documentation for future claims and audits
Module 7: Reinsurance and Portfolio Management
- Basics of reinsurance related to underwriting
- Retention limits and risk sharing
- Managing risk exposure through reinsurance treaties
- Monitoring and review of underwritten portfolio performance
- Loss ratios and profitability measures
Practical Knowledge from Industry Professionals
Our faculty’s extensive industry experience is the cornerstone of our exceptional insurance training
Girish Aswani
Girish Aswani is a seasoned financial educator and corporate trainer with over 20 years of experience in Sales, Finance, and the Insurance (BFSI) sector, including 16 years in Training and Development.
Stuti Gupta
Stuti Gupta is an experienced academician with over 11 years of teaching and leadership in Actuarial Science at Amity University.