The IF3 module is relevant to anyone working for an insurance company, broker or reinsurer and who has a direct or indirect interest in the role of an underwriter. The qualification can be undertaken by apprentices, new or experienced employees.
These include understanding:
• Material circumstances which relate to insurance underwriting
• Insurance policies and underwriting procedures
• Insurance renewals and cancellations
• Underwriting of personal and commercial insurance
• The principles and practice of pricing insurance policies
• The management of exposure for an insurer
The IF3 module is optional for the CII level 3 Certificate in Insurance. It is suitable for those working directly in an underwriting role or for those who wish to gain a further understanding of underwriting to support their own role.
This could include those working in a claims, customer service or broking environment. It provides a more detailed understanding of the underwriting process, including how insurance is priced and the management of the level of exposure accepted by an insurer.
The course is planned as a one-day workshop as many of the learning outcomes are introduced in the IF1 module and the norm is for learners to study for IF1 prior to embarking on this module.
The teaching provided will equip a learner to both pass the IF3 exam and to apply the knowledge gained in their daily working role.