SAQA 91874: NATIONAL OCCUPATIONAL QUALIFICATION: INSURANCE UNDERWRITER (NOQ: IU)

Entry Requirements: 
Grade 12 and/or equivalent or at least five years of Insurance work experience. 

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. 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.

The Insurance Underwriter qualification has specific knowledge, practical and workplace experience components and criteria that must be achieved by the learner for certification against the NOQ: Insurance Underwriter.

 

Table A-1: Knowledge Component Code

Knowledge Module Name

Level

Credits

332101001-KM-01

Administration and record keeping in Insurance

NQF 4

Credits: 16

332101001-KM-02

Insurance Risk Management for Underwriters

NQF 5

Credits: 16

332101001-KM-03

Application of Legal and Insurance principles

NQF 5

Credits: 8

332101001-KM-04

Rating and Pricing of insurance risks and products

NQF 5

Credits: 8

Total Credits for the Knowledge Component:

48

Table A-2: Practical Component Code

Practical Module Name

Level

Credits

332101001-PM-1

Applying and adhering to operational and administrative procedures and practices

NQF 5

Credits: 13

332101001-PM-2

Evaluating risk information to determine risk profile and manage risk exposure

NQF 5

Credits: 8

332101001-PM-3

Understanding and applying basic legal and insurance principles to underwriting recommendations

NQF 5

Credits: 6

332101001-PM-4

Understanding and applying knowledge of product and pricing to underwrite profitable risks

NQF 5

Credits: 13

Total Credits for the Practical Component:

40

Table A-3: Workplace Experience Component Code

Workplace Module Name

Level

Credits

 

332101001-WM-1

Records maintained accurately and effectively

NQF 5

Credits: 17

 

332101001-WM-2

Risk exposure is managed

NQF 5

Credits: 12

 

332101001-WM-3

Legal and insurance principles applied

NQF 5

Credits: 12

 

332101001-WM-4

Competitive rating applied

NQF 5

Credits: 27

 

Total Credits for the Workplace Component:

68

 

           

Integrated Assessment: 
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. 

The assessment model will identify competence against specified assessment standards, through a knowledge-based assessment and an occupational competency assessment. 

The on achievement of the Exit Level Outcomes 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
Contact Details

Contact Person: 

Isobel Rose
Course Details

NQF Level: 

Level 5

Credits: 

154

Course Delivery Method: 

E-learning E-learning

Blended Blended

In Class In Class

In House In-House

Course Duration: 

12 months

Cost: 

On application