Searchlight Solutions

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Introduction to Insurance Basics
(3-Day Programme)


This highly participative workshop has been designed for those new to the insurance industry or undertaking a technical role for the first time. It is designed to speedily ensure that a good basic understanding of insurance and how it works is put in place.
Attendees will gain an understanding of the principles upon which insurance is founded, the nature of risk, the structure of the market and its various players, the key skills of underwriting and claims processing, how a policy is constructed, and the main types of insurance, ensuring that those new to the industry are ready and competent to undertake their role.

Course Content

  • Market Bodies
    ABI, BIBA, CII, FCA, Financial Ombudsman Service, MIB, AIRMIC
  • The Products
    Commercial, Property, Liability, Motor, Marine and Aviation
  • Personal
    Motor, Home, Travel, Other Classes
  • The Policy and its Structure
    Proposal Forms,  Statements of Facts,
    Schedules, Preamble, The Cover, Exclusions, Conditions, Warranties, Endorsements, Certificates and Cover Notes, Renewals
  • Underwriting and Risk Assessment
    Information required to assess the risk, Options open to underwriters, Pricing factors, Surveying, Risk Improvements, Risk Management, Coinsurance, Mid term, adjustments, Renewals, The insurance cycle
  • Claims and Claims Handling
    The parties to a claim, Responsibilities of the Policyholder, Reserving, Claim Forms, Investigations, Role of Loss Adjusters, Options for settlement, Litigation, Recoveries, End of workshop testing

Learning Objectives

  • Explain the origins of insurance and why people buy it
  • Describe the nature of risk and how it is assessed
  • Outline the legal principles of insurance
  • Describe the structure of the UK insurance market and the types of firms
  • Outline the nature of the Lloyd’s and London markets
  • Describe the various ways in which insurance is distributed
  • Specify the key insurance market bodies and their main functions
  • Insurance (Disclosure and Representations) Act, Data Protection and Anti Money Laundering
  • Specify the main types of insurance available to UK consumers
  • Describe the various documentation relating to the issue of a policy and how this operates in practice
  • Understand the basic concept of risk assessment, underwriting and pricing
  • Understand the basic principles of claims and claims handling

Ready to book?

Simply complete the booking form with your details and a member of our team will be in touch with the next available dates. 

Any questions?  

If you’re not quite sure if this course is suitable or are looking for further information, call our team on 0117 244 7221.