Overall job content
The overall role of The European Certified Insurance Policy Handler SQF 4 is to set-up and / or follow the company’s underwriting cri-teria, rules and processes and to apply the widely accepted insurance principles. They analyze and assess the Applicant’s risk profile, restricted to standard retail products, review circumstances and variable, which may affect premium and risk acceptance according to computer based company guidelines.
The profile covers any insurance class dealing with all classes of business restricted to standard products intended to the retail market within the European insurance market and who may be representing both a local or foreign firm.
The certificate holder does not have to have training within all insurance classes, but can be certified based on any class.
Exams applying for accreditation of European Certified Insurance Underwriter must meet the following criterias within knowledge, skills and competences.
The country’s legal principles, regula-tions, directives and code of ethics which may have effect on underwriting business.
Handle new, existing, renewed or amended insurance documentation in accordance with company guidelines
Act in a professional and ethical way.
The overall structure, conditions and pratices of the market.
Analyse risks on the basis of general procedures for standard products generally through an in house software
Use induction in order to form a general risk profile.
Roles and responsibilities of an underwriter.
Establish cover limits and set terms and conditions of the policy according to the product guidelines
Use deduction in order to apply general risk management techniques to specific cases already listed in company procedures.
The general principles of insurance, technical and legal aspects of underwriting.
Identify possible re-insurance and co-insurance aspects and act according to guidelines for the role
Guide peers on how to apply company systems, rules and guidelines when handling standard policies
The underwriting parameters and criteria of the organization regarding decision-making, selection and acceptance.
Determine the premium for the risk being considered according to general tariff software based.
Create a balance between interests of customer and the company.
The general characteristics of perils, hazards and risks; their impact on insured goods, persons and on relevant insurance products.
Conclude the Underwriting process according to the guidelines for handling standard policies
Think responsibly in order to
The fundamentals of risk management techniques
Operate an effective reporting system according to guidelines
Manage his/her time effectively in order to conclude the process within the limits imposed by the legislations and/or the company’s rules.
The policy cover, terms and conditions relevant to his / her work including standard extensions
Communicate effectively with the customer in order to
Build up a confident relationship with the customer during the policy handling process
General financial aspects of insurance contracts and portfolios (e.g. indicators, profitability, combined ratio, loading, discounting).
Enable effective collaboration and communication with relevant units such as actuary, accountancy, claims, and sales and marketing
Financial aspects of insurance contracts and portfolios (e.g. indicators, profitability, combined ration, loading, discounting).
Identify own and team needs for continued education and learning.
Reinsurance & coinsurance (markets, effects on underwriting)
Establish relationships between variables in order to identify and classify insurable risks which may arise from several perils and hazards.
The effects of Solvency requirements on underwriting.
Principles of statistics and probability.
Principles for effective communication.