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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General Insurance Underwriting
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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