Insurance Underwriter – NQF Level 5
QCTO Learnership
What is Insurance underwriter?
An insurance underwriter evaluates risks associated with insuring individuals or entities. They analyze insurance applications, assess relevant information, and determine coverage terms, conditions, and premiums. Underwriters play a pivotal role in maintaining the financial stability and profitability of insurance companies by accurately pricing policies based on risk assessment while ensuring compliance with industry regulations.
They use their expertise to make informed decisions on whether to accept, modify, or decline insurance applications, ultimately contributing to the effective management of risk within the insurance industry.
Course overview
Insurance underwriter NQF Level 5 is designed to empower individuals with knowledge and skill required by participants in short term insurance; who have had schooling at or below NQF level 4. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate confidently as individuals in the South African community and to respond to the challenges of the economic environment and changing world of work in the financial services industry.
Entry Requirements
To enroll in the course, participants must have:
Learning Outcomes
Rationale:
This qualification will also 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 further allows learners to advance their careers both horizontally and vertically within the sector and to equip them to move horizontally onto more specialised areas such as Marine, Engineering and Liabilities.
The competencies covered in this qualification also expose learners to management concepts in preparation for career advancement.
Learning Assumed To Be In Place And Recognition Of Prior Learning
Recognition of Prior Learning (RPL): RPL for Access to the External Integrated Summative Assessment: Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Accredited providers and workplaces must confirm prior learning by stating results or by certifying a work experience record.
Insurance Underwriter Certification
Upon successful completion of the course, participants will be awarded an Occupational Certificate: Insurance Underwriter from the Quality Council for Trades and Occupations (QCTO). This certification validates the skills and knowledge acquired during the program.
International Comparability
Ireland: The Insurance Institute of Ireland offers an online long-distance Certificate in Insurance Practice through an institution called IT Sligo. This qualification is aimed at learners who want to pursue a career within the insurance sector. Qualified learners will earn a designation as Certified Insurance Practitioners. The qualification is pegged at NQF Level 7.
Benefits of Benefits of Studying Occupational Certificate: Insurance Underwriter level 5 course with BConsult
Course Details:
