The purpose of this qualification is to prepare a learner to evaluate and interpret information to protect stakeholders’ interests by using specialist technical knowledge to determine, price, manage and transfer risk.  This qualification will benefit individuals who have worked competently within the underwriting profession without any option for formal education to be certificated, based on Recognition of Prior Learning.  It will also professionalise the occupation by providing a minimum educational standard against which to train new entrants and thus ensure that the ratio of technical expertise within industry to rate risk is kept at a sufficiently high level of competence, compliance and efficiency.

  • Qualification: Occupational Certificate: Insurance Agent: Insurance Underwriter (SAQA ID: 91784)
  • NQF Level: 5
  • Credits: 156
  • Duration: 12 months

A qualified learner will be able to:

  • Apply and adhere to operational and administrative procedures and practices.
  • Evaluate risk information to determine risk profile and manage risk exposure.
  • Understand and apply basic legal and insurance principles to underwriting recommendations.
  • Understand and apply knowledge of product and pricing to underwrite profitable risks.

This qualification is made up of the following compulsory Knowledge and Practical Skill Modules:
Knowledge Modules:

  • Administration and record keeping in Insurance
  • Insurance Risk Management for Underwriters
  • Application of Legal and Insurance Principles
  • Rating and Pricing of Insurance Risks and Products

Practical Skill Modules:

  • Applying and adhering to operational and administrative procedures and practices
  • Evaluating risk information to determine risk profile and manage risk exposure
  • Understanding and applying basic legal and insurance principles to underwriting recommendations
  • Understanding and applying knowledge of product and pricing to underwrite profitable risks

This qualification also requires the following compulsory Work Experience Modules:

  • Records maintained accurately and effectively
  • Risk exposure is managed
  • Legal and insurance principles applied
  • Competitive rating applied

An external integrated summative assessment, conducted through the relevant QCTO Assessment Quality Partner is required for the issuing of this qualification.  The external integrated summative assessment will focus on the exit level outcomes and associated assessment criteria.