Insurance and Reinsurance Underwriting & Claims Management

Explore Latest Trends and Challenges

04-08 May 2020 Arusha - Tanzania

Next Workshop
09-12 June 2020 Johannesburg South Africa
28-31 July Accra Ghana

4

Register Now! Limited Seats Available!

Tshs 800,000 for Local Delegates
$ 1,100.00 International Delegates

Course overview

In the fast-changing environment insurance companies that have a clear strategy and ability to change will be able to develop their position in the market. Insurers can’t control the weather, but they can control other impacts on claims management costs.   The workshop will address the challenging insurance and reinsurance marketplace and how prevailing marketing condition influence and drive underwriting decisions and the changing habit of insurance and reinsurance buyers.   Participants will gain insightful experiences in establishing effective underwriting & claim strategies to reduce turnaround time, implementing successful cost-saving business planning and continuous monitoring of underwriting & claim performance versus agreed target, utilizing new technology in underwriting procedure and claim process including quotation to maximize customer experience as well as learning best practices in analyzing underwriting data and claim procedures to avoid business loss. This course will also provide an excellent introduction to the principles and practices involved in underwriting business. It will also focus on analyzing a reinsurance submission from underwriters’ perspectives, the role of reinsurance in the market, reinsurance Market dynamics and the state of reinsurance market. Don’t Miss this Highly Informative Workshop

Targeted Audience

  • Underwriter Insurer, reinsurer and broker company underwriters
  • Claims and Financial professionals
  • Auditing Department
  • Actuaries
  • Claims Processing
  • Life/Health/General Insurance Business Unit
  • Customer Management/Service Delivery
  • Fraud Management

Learning outcomes -

Understand how Latest Technologies/Systems can minimize underwriting turnaround time, enhance data analysis procedure to create personalized insurance protection schemes, establish fast claim settlement plans, managing risks better to address frauds, and find out about tools that are designed to fully optimize the underwriting process.

Understanding the challenging insurance and reinsurance marketplace and how prevailing marketing condition influence and drive underwriting decisions.

 Tackle Critical Issues on effective claims & underwriting management how to maximize business profit and enhance process efficiency, strategies in cutting the cost of insurance claims and knowing how to avoid huge claims by understanding the role of underwriting decisions.

Course Outline

  • What is underwriting?
    • Role of the underwriter
  • The difference between insurance underwriters and reinsurance underwriters
  • Key aspects to underwriting
    • Material facts
  • Main influencers on underwriting
    • Assessing Risk
    • Risk classification/categorization/classification
    • Medical underwriting versus Non-medical underwriting
  • Understanding the underwriting process
    • Policies & Procedures
    • Life Insurance and underwriting
    • Renewals & Cancellations
  • Underwriting risk
    • Short-term insurance underwriting risk
    • Life insurance underwriting risk
    • Reinsurance risk
  • Analyzing a reinsurance submission from a underwriter’s perspectives
  • Understanding Pricing Methodologies
  • Financial Issues in the underwriting process
  • Changes in Cedant’s financial condition
  • Surplus relief as an alternative to capital
  • Structured reinsurance as an alternative to traditional reinsurance
  • Monitoring Ceding Company capabilities
    • Review of Cedant’s strategic business plan
    • Underwriting Guidelines
    • Claims handling practices
    • Underwriting handling practices
  • Fundamental Market Dynamics of Reinsurance
    • The role of reinsurance in the market,
    • Reinsurance Market dynamics
    • The state of reinsurance market
  • Insurance and Reinsurance marketplace and how prevailing marketing condition influence and drive underwriting decisions.
  • The changing habit of insurance and reinsurance buyers.
  • Ensuring that changes to claims strategy has a positive impact on the complex relationships between claims, underwriting, actuarial, capacity and reinsurance
  • How to maximize business profit and enhance process efficiency, strategies in cutting the cost of insurance claims and knowing how to avoid huge claims by understanding the role of underwriting decisions.
  • Getting potential clients to disclose accurate and honest information when signing up to a policy
  • The future of complex claims management: how tech tools, including natural language processing and machine learning are being used
  • Alternative dispute resolution: when it does and doesn’t work for large claims
  • Assessing the return of investment on new claims channels to ensure they don’t just add extra cost
  • Effective supply chain management to maintain standards of governance and improve customer experience
  • Sales & Life Insurance
    • How knowledge of underwriting can increase sales?
    • Educating your client on underwriting
    • Life Insurance products & services
    • Educating your client about the value of life assurance
  • Cyber risk and life insurance in digital age
    • Cyber security and how it impacts on the Insurance Industry
  • The Role of the Actuary in Insurance and Reinsurance and how they interface with underwriting
    • Actuaries are an essential element of providing Underwriting the Pricing Tables and understanding of the risk that they need to underwrite
  • Actuarial Principles of Pricing of Insurance Products: Emphasis on Life and Medical
    • We examine the technique of how insurance policies are priced and how actualities develop pricing tables

Understanding the Evolving Customer: The Key Advantages of a Data Analytics Strategy

  • Developments of Autonomous Vehicle (AV) technology: exposures and potential implications for the industry and the society
  • Analytical approaches for the reduction of motor claims expenditure
  • Connected Claims: UBI innovations for motor insurance policies
  • Engaging and empowering customers and employees for a simplified claims process
  • Optimizing the claims function for maximum effectiveness in fraud mitigation and management

High performance Work Practices: Maximizing Human Potential and Operational Efficiency

  • Modernize your operations for a more targeted claim settlement and improved expense management
  • Create the claims team of the future
  • You claim there is a Talent Gap: why and how it is crucial to act today to drive future success in a changing claims landscape
  • Exploring opportunities in claims process outsourcing
  • Best practices in claims vendor management

Innovative Solution and Responsive Actions for Cost Reduction in the New Claims Scenario

  • Positioning the claims function for operational excellence
  • Rehabilitation in action
  • Into The Matrix of cyber-related claims
  • Potential impact of Blockchain technology on the insurance and reinsurance industry: a world without claims handling?
  • Catastrophe claims planning and response: best practices and opportunities for improvement
  • Game of Drones: the disruptive changes imposed by UAVs in the management of large losses
  • Recognize Industry Market Trends Through Exclusive Panel Discussions: Understanding best practices, how things have changed, and big moves on the horizon for all pre-to-post matters related to claims and underwriting management

Whilst BMK Training has core courses which we offer on an international basis to both companies and individuals, we also recognise that from time to time, your company may have specific training requirements that cannot be satisfied in a public training environment.

We can bring our Training/workshops directly to your workplace or we will customize training to meet your specific needs ensuring effectiveness in achieving real performance improvement.
If you have 8 or more delegates then, in house training can be of a greater advantage for your organization.

Advantages of in-house training include:

  • Cost savings up to 50% of the training expenses with more effective group training.
  • Training is confidential, allowing teams to discuss and work on real issues as trainers will usually sign confidentiality agreements.
  • In-house training encourages team building and better understanding of one another
  • Training is fully-customized for any team, department, or organization

For Registration and other Training arrangements
contact us on the detail below
SA Tel: +27 11 057 6001    /   TZ Cell: +255 688 032 910
WhatsApp +27 79 574 0389 /  Fax: +27 862 637 253