eficert

European Certified Insurance Policy Handler - SQF 4

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 criteria, 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.     

Segmentation

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 Policy Handler must meet the following criterias within knowledge, skills and competences.

Profile (PDF)

Knowledge

Skills

Competences

The country’s legal principles, regulations, 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

  • Handle new, existing / renewed applications and any relevant documentation changes; verify their completeness and confirm their correctness
  • Gather material and background information on applications through corresponding with applicants / stakeholders
  • Assess proposals and enquiries for insurance cover
 

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

  • Process an orderly risk assessment of new applications or changes in line with the guidelines of acceptance and decision-making
  • Identify fundamental risks and their associated hazards through underwriting guidelines for standard products
  • Select and classify risks
  • Determine the scenario for insurance through predetermined scenarios, usually guided by an in house software
  • Check that risk acceptance criteria are fully applied and placed, according to company guidelines and the defined responsibilities of the role
  • Check that that fraud and money laundering procedures are fully applied according to company guidelines and the defined responsibilities of the role
 

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

  • Determine whether to accept the proposal in full, in part or decline it entirely
  • Issue an insurance contract, checking the terms, conditions and warranties affixed by the Senior Underwriter
  • Issue policy wording and / or update existing policies among predetermined options
 

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.

  • Issue corresponding quotation
 

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

  • Ensure accuracy of terms including but not restricted to, conditions, cover limits, rebates, deductibles and premium and issue final policy
  • Respond to enquiries from customers and direct sales force with regard to standard policies
  • Support the distribution force in negotiations with low profile customers with relatively lower and traditional risks
  • Update and handle the termination of contracts according to guidelines
 

Think responsibly in order to

  • consider the relative costs and benefits of potential actions to limit, mitigate or eliminate risks
  • find out most appropriate insurance product for the customer’s risks
 

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

  • explain the risk situation of customer in clear and accurate way.
  • respond to the customer’s enquiry regarding policy conditions.
 

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 collaboration and communication with relevant units such as actuary, accountancy, claims, and sales and according to company guidelines

Basic principles of statistics and probability.

 

 

Principles for effective communication.