Household and High Net Worth Insurance - Introduction - Searchlight Insurance Training

Household and High Net Worth Insurance – Introduction

This participative workshop seeks to establish a base working knowledge of the cover provided by conventional household policies together with some understanding of the associated underwriting features.

The second part of the workshop will contrast the cover provided by Mid and High Net Worth household insurance policies and how the target market for such products varies from the conventional household market. We will also investigate the latest trends in providing cover, especially the tendency of High Net Worth insurers to adopt a portfolio approach to providing policy cover.

Who Should Attend?

Anyone who is new to this class of business or perhaps has familiarity with household business but wants to expand their knowledge of High Net Worth insurance.

Level: Introduction

Duration: 1 day(s) CII CPD Hours: 6
     
  • Be Aware of the layout of the policy.
  • Recognise the main underwriting and rating factors of a Household Insurance risk.
  • Be Aware of the measures the underwriter uses to minimise the potential for loss or damage.
  • Identify the main causes of loss that are covered under a Household Insurance policy
  • Describe the settlement of Household Insurance claims using the most suitable and economic means available.
  • Understand the potential market for high net worth business and its importance in relation to other classes of business
  • Recognise a typical High Net Worth customer profile
  • Define the areas of additional cover that may be offered under a High Net Worth policy when compared to standard policy cover
  • Understand the standard underwriting features for High Net Worth risks,
  • Understand the portfolio approach to providing cover used by HNW insurers
  • This workshop will contain numerous group exercises to assist in building of any existing knowledge held by delegates. It will establish what features the underwriter requires details of from the client and should therefore assist the broker in ensuring the placement process is as efficient as possible.