PDI - Insurance Underwriting and Claims (此課程內容只提供英文版本)

Learning Outcomes (此課程內容只提供英文版本)

• evaluate insurable risks and suggest ways for loss prevention in regard to different types and nature of risks;
• assess moral and physical hazards under different business activities and recommend underwriting policy with appropriate premium, terms and portfolio management;
• apply basic working knowledge of different forms and types of reinsurance contracts and the relevant reinsurance market practice; and
• propose suggestions in managing claims services by applying principles of insurance law and claims for different disputes and claims settlement scenarios.

Learning Contents

1. Principles of rating and underwriting

• Nature of statistical base of insurance
• Risk data and insurance database, big data
• Rating structure as a means of obtaining and maintaining business
• Use of data to calculate pure risk premium
• Factors involved in pricing of insurance
• Premium equation

2. Risk assessment and underwriting of different types of Insurance

• Scope of cover
• Physical and moral hazards
• Standard and non-standard risks
• Assessment of risks for underwriting
• Factors for premium loading or reduction
• Reassessment of risks on renewal
• Underwriting philosophy including underwriting cycle and portfolio underwriting

3. Risk evaluation and loss prevention

• Reasons for risk surveys
• Characteristics of insurance surveyors' reports
• Nature of recommendations and requirements from surveyors
• Principles of loss prevention and risk reduction, including fire wheel, fire & theft protection

4. Reinsurance

• Purpose, type and method

5. Claims

• Legal principles relating to claims
• Key information on claim forms and reports
• Role and functions of adjusters and assessors in claims settlement
• Settlement of disputes including The Insurance Complaints Bureau, negotiation, mediation and arbitration
• Review of claims performance

Entry Requirements:

• Five HKDSE subjects at Level 2 or above, including English and Chinese Languages with 2 or more years’ relevant full-time work experience; or
• Five HKCEE subjects at Grade E/Level 2 or above, including English* and Chinese Languages with 3 or more years’ relevant full-time work experience; or
• Completion of a QF Level 3 programme that is deemed acceptable to the respective Programme Committee; or
• Relevant Recognition of Prior Learning (RPL) qualification(s) at QF Level 3 or above AND a pass in an admission interview; or
• Other relevant verifiable prior learning and/or work experience that is/are deemed appropriate by respective Programme Committee AND a pass in an admission interview. 

[* Applicants who took HKCEE English Language in 2006 or before should have attained Grade E or above (Syllabus B) / Grade C or above (Syllabus A)] 

[Entry requirements for mature applicants are: Aged 23 years old or above with at least 2 years of relevant full-time work experience subject to a satisfactory admission interview.]

Continuing Education Fund

The modules of “Professional Diploma in Insurance” (PDI) have been included in the list of reimbursable courses for Continuing Education Fund (CEF) purposes (https://www.wfsfaa.gov.hk/cef). The mother course “Professional Diploma in Insurance” of the modules is recognised under the Qualifications Framework (QF Level 4).

For the modules commenced on or before 31 March 2022 (the 1^st module should be commenced on or before the date), CEF claimants would be eligible for fee reimbursement upon their successful completion of any 4 modules selected from PDI (CEF Course Code: 33F11053A), with the fulfilment of both the minimum attendance requirement of 70% AND passing each of the 4 modules at 50% or above.

For the modules commenced on or after 16 August 2022, CEF claimants would be eligible for fee reimbursement upon their successful completion of any one module selected from PDI with the following CEF course codes, with the fulfilment of both the minimum attendance requirement of 70% AND passing the module at 50% or above.