• 2.1.1 Life insurance


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    Description of role

    Responsible for underwriting life insurance products including evaluating and pricing applications, underwriting effectiveness and management of customers and intermediaries

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    Core skills

    • Ability to understand customer needs
    • Understanding of basic product types, features of different protection policies, pension schemes and premium fixing
    • Understanding of industry trends and developments and assess their impact on the underwriting function.
    • Ability to assess applications and set the acceptable level of exposure
    • Ability to define appropriate terms/key contract clauses to deliver underwriting decision.
    • Ability to perform underwriting assessment and evaluation of applications for life insurance products.
    • Knowledge of different actuarial and statistical methods used t0 establish pricing structure.
    • Ability to utilise service providers and experts in appropriate circumstances, languages, etc.
    • Understanding of legal implications, inheritance etc.
    • Understanding of tools to detect and investigate frauds
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    Qualification and/ or certification

    • QFSQF Level 3
    • Relevant experience

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    Industry knowledge

    • Knowledge of the insurance market, industry trends and developments.
    • Knowledge of key insurance principles and terms.

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    Regulatory compliance of role

    • Knowledge of insurance regulatory framework
    • Knowledge of laws and regulations impacting underwriting