SAQA ID: 91784
OC: Insurance Agent: Insurance Underwriter
Title of Qualification:
SAQA ID: 91784 OC: Insurance Agent: Insurance Underwriter
Duration of Qualification:
This programme consists of Core; Fundamental and Elective Unit Standards as follows and will be covered over a period of one year
Total Number of Credits: 156
Entry Requirements
Grade 12 and/or equivalent or at least five years of Insurance work experience.
Knowledge Modules:
- Administration and record keeping in Insurance NQF Level 4, 16 Credits.
- Insurance Risk Management for Underwriters NQF Level 5, 16 Credits.
- Application of Legal and Insurance Principles, NQF Level 5, 8 Credits.
- Rating and Pricing of Insurance Risks and Products, NQF Level 5, 8 Credits.
Total number of credits for Knowledge Modules: 48.
Practical Skill Modules:
- Applying and adhering to operational and administrative procedures and practices NQF Level 5, 13 Credits.
- Evaluating risk information to determine risk profile and manage risk exposure, NQF Level 5, 8 Credits.
- Understanding and applying basic legal and insurance principles to underwriting recommendations, NQF Level 5, 6 Credits.
- Understanding and applying knowledge of product and pricing to underwrite profitable risks, NQF Level 5, 13 Credits.
Total number of credits for Practical Skill Modules: 40.
Work Experience Modules:
- Records maintained accurately and effectively, NQF Level 5, 17 Credits.
- Risk exposure is managed, NQF Level 5, 12 Credits.
- Legal and insurance principles applied, NQF Level 5, 12 Credits.
- Competitive rating applied, NQF Level 5, 27 Credits.
Total number of credits for Work Experience Modules: 68.
The purpose of this qualification is to prepare a learner to evaluate and interpret information to protect stakeholders’ interests by using specialist technical knowledge to determine, price, manage and transfer risk.
A qualified learner will be able to:
- Apply and adhere to operational and administrative procedures and practices.
- Evaluate risk information to determine risk profile and manage risk exposure.
- Understand and apply basic legal and insurance principles to underwriting recommendations.
- Understand and apply knowledge of product and pricing to underwrite profitable risks.
