Overview
This course provides insurance agents with an in-depth understanding of the underwriting function—the cornerstone of the insurance transaction process. It explores how underwriting evaluates people, property, and businesses, assesses risks, and applies company standards to determine insurability.
Participants will gain a solid foundation in the factors influencing underwriting decisions across different lines of insurance, including property and casualty, life and health, liability, and group insurance. The course also delves into the various underwriting outcomes (preferred, standard, substandard, and rejected), the rationale behind them, and how these decisions affect agents’ work with clients.
Beyond technical knowledge, the course emphasizes the agent’s critical role in supporting underwriting through accurate information gathering, risk evaluation, communication with underwriters, and ongoing monitoring of policies post-issuance. It equips participants with the skills to bridge the gap between client needs and underwriting standards, enhancing both sales effectiveness and risk management.
Learning Outcomes
On completion of this course, learners will be able to:-
- Explain the concept and function of underwriting in the insurance industry and its role in risk selection and pricing;
- Identify key underwriting factors used to evaluate individuals, property, and businesses across various lines of insurance;
- Describe the different types of underwriters and underwriting specializations, including property & casualty, life & health, liability, and group underwriting;
- Understand and interpret underwriting decisions, including rejection, substandard, standard, and preferred outcomes, and their implications;
- Explain methods used to manage substandard risks, such as higher premiums, limited benefits, and exclusions;
- Recognize the agent’s role in underwriting, including accurate data collection, communication with underwriting teams, and policy monitoring at renewal;
- Apply underwriting principles in client interactions to align coverage needs with risk appetite and company standards;
- Demonstrate an understanding of regulatory and market influences on underwriting practices;
- Enhance sales effectiveness by integrating underwriting knowledge into risk advisory and client relationship management; and
- Contribute to better portfolio quality and reduced adverse selection through informed and proactive engagement in the underwriting process.
Course Outline
Price: US$110
Course Features
- Modules 5
- Duration 4 Weeks
- Content Type Text & media
- Assessment Yes
- Pass Percentage 70%
- Certificate Yes
