Occupational Certificate: Insurance Agent: Insurance Underwriter NQF Level 5

Purpose of qualification

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.

Study Method:

Methodology to be used: Modules of between 30 – 40 credits each. The programme will be broken into 4 modules to allow for effective teaching and learning. Each Module will have contact sessions in class and during class, learners will complete formative assessments. After class learners will write closed book summative assessments. Notional hours:

A 30/70 split in terms of time for theory and experiential learning will be used. For a 30 credit module will be
broken as 9 hours of contact time in class and 21 hours in the workplace.

Requirements To Register:

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

Programme Structure

Theory requirements:

Learning will be a combination of the following:

Face-to-face facilitated sessions
Self-study
Practical case-studies and scenarios

Experiential learning requirements:

Mentors and coaches Workplace portfolio of evidence Rotation.

Targeted learners / Who may register:

Persons that intend to follow a career path in insurance underwriting across three sub-sectors of medical schemes, short-term and long-term insurance. Persons who have worked with underwriting in the three subsectors but who do not hold any formal qualifications in insurance.

Assessment of Participants:

Learners will be assessed both internally (by the provider) and externally (by the Assessment Quality Partner) a) The internal assessment will be assessed through formative assessments, summative assessments, practical assessments and workplace portfolio of evidence. b) The external assessment will be conducted through a knowledge-based assessment and an occupational competency assessment, both assessed by the AQP. Part 1: Knowledge-based assessment which will take the form of a controlled (supervised conditions – closed book with reference documents supplied by AQP), three (3) hour knowledge based assessment. Part 2: A Portfolio of evidence comprising of naturally occurring evidence collected from the workplace against specified criteria

Occupational Certificate: Insurance Agent