RISK BASED UNDERWRITING (Non-Life)
Training
In Pune
Description
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Type
Training
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Location
Pune
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Duration
1 Week
Facilities
Location
Start date
Start date
Reviews
Course programme
Background:
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. Indian 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.
Objectives:
This programme aims to enable the participants to:
• 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
Contents :
• 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 – Centralised data warehouse, data extraction & analysis
RISK BASED UNDERWRITING (Non-Life)