Risk Based Underwriting
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.
- 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
- 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
Underwriters, Compliance Officers, Officers In charge of Claims Dept., Officers of IT Dept., Officers of Underwriting Audit Department and such other officers
How to apply
All candidates must follow the application steps where they provide their details and select units. An invoice will be sent to the email address of the applicant with payment instructions.