Overview

Prepare effectively for the IC 45 General Insurance Underwriting exam conducted by the Insurance Institute of India. This comprehensive mock test series includes 6 mock tests with over 900 practice questions, covering all 12 chapters and aligned with the latest learning objectives and outcomes. Ideal for licentiate, associate, and fellowship aspirants.Chapter Wise Learning Outcomes Covered on this Mock Test:1 Introduction to UnderwritingConcept of UnderwritingGeneral Insurance Contracts - and Underwriting ConsiderationsGeneral Insurance Underwriting - Principles and FeaturesIntroduction to UnderwritingIntroduction to Underwriting- ProcessRegulatory Directives & RequirementsRegulatory Directives & Requirements for General Insurance UnderwritingStages of UnderwritingTypes of UnderwritersUnderwriting - ProcessUnderwriting ConsiderationsUnderwriting- Principles and Features2 Methodology & Procedures Of UnderwritingFundamental Aspects of Underwriting procedureMethodology And Procedures Of UnderwritingUnderwriting of New BusinessUnderwriting Renewal Business3 Principles of Rating MakingConcept, Considerations and Objectives of ratemakingPrinciples of Rating MakingProcess of ratemakingTypes of Ratemaking4 Rating Approaches And Pricing MethodsConcept of insurance pricing and importanceExperience rating methodExposure Rating MethodPremium rating methods - the individual rating methodRating Approaches And Pricing MethodsRating Methods5 IRDA File And Use Of GuidelinesClassification of products in accordance with the IRDA File & Use Guidelines 2016Goals and Objectives of market conduct supervision for insurance businessGuiding Principles for Product Development - Product Design and RatingIRDA File And Use Of GuidelinesProduct FilingProduct Management6 Applications Of ‘File & Use' And ‘Use & File' ProceduresApplications Of ‘File & Use' And ‘Use & File' ProceduresDefinition of products as per user of products and product featuresGuidance compliance with Line of Business wise requirementsIRDAI Guidelines on Product Filing in Health Insurance BusinessRole of Product Management Committee Members7 Tools Of UnderwritingApproaches and Tools for effective underwritingOther Tools & Devices to increase effectiveness of underwriting ProcessPortfolio ManagementReinsurance - A mechanism to spread the risks assumedRisk management framework and Effective UnderwritingTools Of UnderwritingUnderstand the elements of risk management framework8 Types of PoliciesAll Risks insurance coverClassification of Insurance by Types of Insurance PoliciesClassification of Insurance CoversMulti-Peril Insurance PolicySpecial CoversTypes of Marine Insurance PoliciesTypes of Policies9 Underwriting Profitability And Reunderwriting StrategiesAreas Where Adverse Results Can AppearReviewing The Underwriting Policy Or Re-UnderwritingUnderwriting Philosophy, Policy and profitabilityUnderwriting Profitability And Reunderwriting Strategies10 Protection Of Policyholders' InterestsClaim procedureDuties and obligations of insurers, distribution channelsGrievance redressal procedureMatters to be stated in an insurance policyProtection Of Policyholders' InterestsProtection of Policyholders' Interests Regulations issued by IRDA11 Research And Development In Underwriting, Rating And Product Innovation - Challenges AheadNew areas where challenges are occurringProduct innovationReasons due to which underwriting errors can occurResearch And Development12 I.T. Applications In UnderwritingBenefits of technology-based underwritingGlobal Trends of IT ApplicationsI.T. Applications In UnderwritingNeed for IT applicationsRole of IT applicationsRole of technology in insurance underwritingUnderwriting is both an art and a science

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