The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of claims practice and how claims are handled and considers practical aspects of handling a claim; from receipt to settlement (whatever that means in each case). It deals with the rules within which the claims handler must operate, as well as explain those of their duties which do not relate directly to the customer, e.g., the setting of claims reserves and ensuring that reinsurance and other recoveries are made.
This unit provides candidates with knowledge and understanding of insurance products and practice, including underwriting and policy wordings, claims, customer service and information and communication technology. It looks at the need for the underwriter to understand the risks and for the insured to understand their part in providing appropriate information and ensuring the cover provided, based on this information, meets their requirements.
Insurance Claims Handling (non-UK) (WCE) provides you with knowledge and understanding of the basic principles of the claims handling process which can be applied in your region. It is designed for insurance practitioners working outside the UK, this unit covers the claims handling process including notification, assessment, settlement and associated financial factors.
The IFCE is a Saudi Central Bank (SAMA) mandatory exam covering rules and regulations of insurance, code of conduct and the basics of insurance operations. This exam will contribute in assuring the eligibility of insurance sector employees through understanding the minimum knowledge and skills required to work in this sector.
The objective of this unit is to develop an understanding of the fundamental principles of reinsurance in the global market and looking at how the needs of the insurer are identified and met and how reinsurance fits the insurer's corporate strategy and other interrelated issues. It considers the various types and features of reinsurance available. It also considers the design, construction, pricing and placement of a reinsurance programs, contract wordings and the legal issues relating to reinsurance.
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