This unit standard is intended for people in research and development who decide on underwriting practice, Underwriters and Claims Assessors who assess Short Term risk, and those who decide on pricing practice. It requires the ability to work with actuarial information and statistics. The qualifying learner is capable of:
• Identifying underwriting and pricing trends in short term insurance. • Analysing risk assessment practices in short term insurance to make a competitive risk assessment. • Recommending changes to current company practice in the assessment of risk in short term insurance. • Communicating information to internal and external customers.
This unit standard is intended for senior people in Long-Term insurance organisations who are responsible for ensuring sound business practice within a claims department. The qualifying learner is capable of:
• Evaluating the workflow in a claims department. • Analysing the effectiveness of a claims department structure. • Analysing people-related risks in a claims department. • Recommending audit procedures for a claims department. • Evaluating the support systems available to a claims department.
This unit standard enables learners to make a short term commercial and industrial underwriting decision without referral for high risk in a single commercial or industrial undertaking without subsidiaries. It is useful for Underwriters and Claims Assessors. The qualifying learner is capable of:
• Assessing the risk in a commercial and industrial proposal. • Valuing the risk in terms of an underwriting mandate. • Adapting a policy wording for a standard risk to meet specific needs. • Presenting terms and conditions to a client or intermediary.
This unit standard focuses on identifying and analysing risk-related information that could impact underwriting and pricing in the short-term insurance industry. It equips learners to use actuarial data and statistics to support competitive and informed decision-making.
Examine and evaluate the effectiveness of a claims department to ensure a business is adequately protected. This unit guides learners in assessing structures, workflows, and audit procedures that support sound business practices.
Gain the expertise to underwrite high-risk cases in short-term commercial and industrial insurance. Learners develop skills to assess complex risks and determine appropriate underwriting strategies that balance coverage and cost.
This foundational requirement ensures learners in the underwriting field can read, interpret, and communicate complex insurance documentation effectively. Strong English literacy supports accurate policy interpretation, risk communication, and client engagement within underwriting processes.