Understand the core processes of underwriting
This unit describes the skills and knowledge required to conduct underwriting of new business, including determining the terms and conditions, risk acceptance, evaluating the response of the client, negotiating and finalising the cover.
Who should take the course
Students completing this unit as part of the Certificate IV in General Insurance should select either UW20003-20 Issues of renewal business or UW20002-20 Understand the core processes of underwriting.
What you'll learn
By the end of this learning unit, you should be able to:
- determine whether a risk is acceptable and what terms and conditions should apply
- communicate the result of the risk assessment to the client
- negotiate changes to the offer according to client response
- confirm cover.
FNSISV412 Underwrite insurance business
- Week 1: Assess risk and determine terms and conditions
- Week 2: Prepare and communicate quotations to clients
- Week 3: Negotiate and modify offers
- Week 4: Confirm cover and issue documentation
1 Exam and 1 Simulation