BACKGROUND

Motor Insurance Portfolio is an important premium source for all insurers. It constitutes nearly 48% of Insurers’ total GDPI. It is also the single largest contributor to the underwriting losses of the insurers. Insurers have limited control over Third Party liability whereas Own Damage segment can be made more profitable with proper underwriting and claims management. In the light of the possible de-tariffing of a sound understanding of the underwriting Risk factors by the executives / intermediaries of General Insurance Companies assumes greater importance.

COURSE OBJECTIVES

• To acquire a better understanding of underwriting of Motor Insurance
• To appreciate the fast developments in the automobile sector in regard to high tech Vehicles
• Impact of spare parts cost on high tech maintenance and repairs
• To critically analyze the scope of insurance covers in the light of risk factors measurable or not
• To have a clear understanding

COURSE CONTENT

• Motor Insurance underwriting and Management
• Anatomy of Motor Vehicles
• Risk management through Underwriting & Claims settlements in Motor insurance
• Pricing in a de-tariff market
• Study of new generation of vehicles and cost of spare Parts & cost of repairs
• Motor Vehicle Third Party Act and its implication
• Role of Surveyors / In-house Surveyors / Investigators
• Frauds in Motor Insurance & Role of Additional Dispute Resolution Mechanism
• Visit to Workshop / Vehicle Manufacturing Plant
• Impact of Third Party Claims in Own Damage losses
• Impact of Consumer Protection Act and the role of IRA

TARGET GROUP

• Executives handling motor portfolio and operating officers in general insurance
• Companies underwriting both public service & private motor insurance

Cost: 32,500.00

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How to apply

All candidates must follow the application steps where they provide their details and select units. An invoice will be sent to the email address of the applicant with payment instructions.

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