Underwriting Fundamentals
About this course

Overview

The difference between a profitable book and a problem one is a long series of small selection decisions. Aimed at new underwriters and underwriting assistants, this builds risk selection, rating, and the judgement that sits behind both.

What you will be able to do

Learning outcomes

  • Evaluate a risk for acceptability
  • Apply rating to price a risk
  • Structure terms and conditions
  • Recognise accumulation and aggregation risk
  • Contribute to a profitable underwriting book
What the course sets out to do

Course objectives

  • Explain the underwriting process and cycle
  • Assess and select risks
  • Apply rating and pricing principles
  • Set terms, conditions, and exclusions
  • Manage portfolio quality and accumulation
Course content

Modules

01

Underwriting foundations

The underwriting process, insurable risk, and the underwriting cycle.

02

Risk selection

Assessing risks and deciding what to accept, decline, or refer.

03

Rating and pricing

Rating factors, loss experience, and pricing for profitability.

04

Terms and conditions

Setting deductibles, limits, conditions, and exclusions.

05

Portfolio management

Managing accumulation, aggregation, and book performance.

06

Underwriting judgement

Applying judgement where data is incomplete or ambiguous.

Who it is for

Target audience

New underwriters, underwriting assistants, and technical staff in short-term insurance.

Before you start

Prerequisites

None. Built for people new to underwriting.

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