Program Brief

The Diploma in Insurance is a technical and supervisory qualification for insurance staff working across all sectors of the industry, and the logical progression from the Certificate in Insurance. The Diploma will provide you with a firm understanding of insurance fundamentals and will enable you to build towards advanced technical knowledge, thereby ensuring you have the means to function effectively in a challenging environment. Motor Insurance (M94) unit counts towards a Diploma in Insurance, it may also count towards the Advanced Diploma in Insurance. This training program provides an understanding of the risks faced by the various types of motor vehicles and the legal requirements associated with motor insurance. It includes relevant case law and an overview of the different types of motor insurance products available from the general insurance market.

Program Goals

At the end of the training program, the participant should be able to:

  • Understand the nature of motor risk and the main impacting factors.
  • Understand the scope of cover provided by motor policies.
  • Understand the main practices of motor insurance
  • Understand risk perception, evaluation and underwriting of motor insurance
  • Understand the claims considerations and procedures of motor insurance.
Program Agenda
Module 1: Nature of Motor Risk and the Main Impacting Factors
  • 1 Different types of motor risk and how they are assessed

    • 2 Legislation which aims to control risk

      • 3 Road Traffic Act focusing on the effects of compulsory insurance on the motorist and insurers

        • 4 Role and functions of the Motor Insurers’ Bureau (MIB) including the MIB agreements

          • 5 Measures taken to combat uninsured drivers

            Module 2: Scope of Cover Provided by Motor Policies
            • 1 Indemnity and the main types of cover in relation to the motor policies

              • 2 Covers given under different motor policies

                Module 3: Main Practices of Motor Insurance
                • 1 New business process

                  • 2 Mid–term policy alterations

                    • 3 Renewal process, lapses and cancellation

                      • 4 Procedure and issues arising from the delivery and surrender of certificates

                        • 5 for handling voidable policies and the options available to insurers

                          • 6 Regulatory and legislative requirements affecting the transaction of motor insurance

                            Module 4: Risk Perception, Evaluation and Underwriting of Motor Insurance
                            • 1 Motor underwriting strategy, distinguishing between account level and case underwriting

                              • 2 Insurer’s risk appetite, standard rating models and pricing methods

                                • 3 Proposal evaluation including legal considerations and validation tools

                                  • 4 Application of loadings and discounts

                                    • 5 Factors affecting loss ratio, expense ratio and operating ratio

                                      • 6 Reinsurance as applied to motor insurance

                                        • 7 Methods of underwriting and rating for the different types of motor risk

                                          • 8 Fleet risk management and its benefits

                                            • 9 of liaison between claims and underwriting functions

                                              Module 5: Motor Claims Considerations and Procedures
                                              • 1 Motor claims strategy and objectives

                                                • 2 Validation, evaluation and settlement practices in handling motor claims

                                                  • 3 How an insurer determines its status and the practical application of the MIB agreements

                                                    • 4 Role of market organizations and law enforcement agencies in the claims process

                                                      • 5 Different service providers and processes involved in the handling of own vehicle and third party claims

                                                        • 6 Motor insurance dispute resolution procedures

                                                          Program Requirements
                                                          • Pass the Professional Exam in Insurance Foundations

                                                          Pass the Professional Exam in Insurance Foundations

                                                          • Pass the Certificate Exam in Insurance, Legal and Regulatory (IF1)

                                                          Pass the Certificate Exam in Insurance, Legal and Regulatory (IF1)

                                                          Program Path

                                                          Names of the training programs that are integrated (enriched) with the training program:

                                                          • Not Available

                                                          Names of the training programs that after the training program:

                                                          Program Method
                                                          • Lecture
                                                          • Case Studies
                                                          • Brainstroming
                                                          • Practical Implementation
                                                          • Dialogue Teams
                                                          • Exercises and assignments
                                                          Evaluation Method
                                                          • Pre Exam
                                                          • Post Exam
                                                          • Simulation Test for professional exam
                                                          Training Type
                                                          • In Class Training
                                                          • Online Training

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