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960 Advanced Underwriting

Navigating your ACII

Using This Course (3:42)
Approaching Coursework (11:45)
The Marking Grid (10:01)
Referencing (8:01)
ACII Journey Mapping (10:26)
Introduction to Contexts (10:44)

Interviewing the Industry

NICK KIRK- Risk appetite - Attitude to risk - Reputation (7:38)
NICK KIRK - Historical claims data - New lines of business (3:48)
NICK KIRK - Competition - London Market (6:53)
PAUL SKINNER - Marketing - The success of marketing options - Conversion rates - Marketing qualified leads (8:41)
RICHARD WOOLER - Refining Investment Practice - External environment - Opportunities (2:25)
JAMIE CROOKENDEN - Underwriting strategy - Target setting - Underwriting controls (8:35)
JAMIE CROOKENDEN - Business mix - Managing portfolio - Claims interpretation (6:02)
JAMIE CROOKENDEN - Management accounts - Credit control (5:16)
JAMIE CROOKENDEN - Underwriting controls and procedures - Referral requirements - Delegated authority (12:57)
JAMIE CROOKENDEN - Peer review and audit - Authority breach - Benchmark rating (8:33)
JOHN CONSTABLE - Start-ups - Business model disruptors - Innovation (6:58)
JOHN CONSTABLE - Municipal Mutual Insurance - A case study (4:59)
JOHN CONSTABLE - Portfolio management - Segmentation - Diversification (8:31)
JOHNATHAN BESSO-COHEN - Emerging risks - Black swan events (8:57)
JOHNATHAN BESSO-COHEN - External environment - Technology - Blockchain (6:15)
MARK BUTTERWORTH - Risk acceptance policy - Strategic business planning - Barriers to entry (10:44)
NOUSHEEN HASSAN - Solvency II - Evolution of risk management - ORSA (6:07)
NOUSHEEN HASSAN - Internal audit - Peer review - Three lines of defence (7:57)
ROSEMARY BEAVER - Lloyd's - Global markets - Competition (7:58)
THERESA FROEHLICH - Corporate strategy - Regulators - Risk appetite - KPIs (5:07)
THERESA FROEHLICH - Strategic and operational planning - ORSA - ROCE (5:37)
LESLEY DUNN - Affinity partnerships - Pricing - Customer profile (16:07)
LESLEY DUNN - Affinity schemes - Benefits and disadvantages - Pricing correction (4:40)
LESLEY DUNN - New lines of business (affinity schemes) - Underwriting strategy - Take up rate (10:17)
LESLEY DUNN - Affinity partners - Reputation and brand - Marketing (7:38)
LESLEY DUNN - Managing a portfolio - Portfolio mix - Diversification (2:36)

Technical Topics

Global Insurance Programmes (1:21)
Authority Limits Slides (1:12)
Assumptions and Forecasts (1:09)
Business Plan for Start-ups (2:45)
Using and Interpreting Claims Data (3:17)

Refreshers

Financial accounts (12:23)
Global programmes (3:41)
The Regulatory Regime (3:46)
Capital and Solvency Requirements (2:10)
Events and Trends (6:29)
Corporate and Underwriting Strategies (1:40)
Main Elements of the Premium (5:49)
Global Programmes (3:41)
Financial and Management Accounting (2:51)

Concepts ‘in a nutshell’

Data Mining (1:38)
Accumulations (1:34)
KPIs (1:17)
Classification & Categorisation (1:00)

Perspectives & Scenarios

Marketing (17:58)

Real Time Research

Start-ups (7:45)

Snip-it Summaries

Control Models (1:59)
ROCE and Investment Income (1:48)
Solvency II (2:49)
Artificial Intelligence (2:43)
Environmental, Social and Governance (ESG) (2:54)
Consumer Duty (3:32)

Research Resources

960 Advanced Underwriting Specimen Coursework
General ACII resources
Lloyd's Annual Report 2023
Lloyd's Annual Report 2022
CII Credit Calculator
CII eLibrary

Legacy

JAMIE CROOKENDEN - COVID-19 - Public trust - Transparency (9:23)
JOHN CONSTABLE - Emerging risks - COVID-19 - Climate change - Contract certainty (9:21)
LESLEY DUNN - Distribution channels - Competition - COVID 19 (2:47)
Lloyd’s Minimum Standards: Underwriting (7:06)

Future Development

Course Feedback

Relevant regulation, legislation and technological developments

Should insurers embrace Big Tech or brace for Big Tech revolution? Kennedys
PRA fines MS Amlin Underwriting Limited £9,695,000 for failings in its governance, controls and risk management - Bank of England
Insurance aggregate data annual report - Bank of England
New Insurer Start-up Unit - Bank of England
How our industry is regulated - ABI
Fair value, FCA Dear CEO letters and multi-occupancy buildings - Browne Jacobson
Consumer Duty will lead to a major shift in financial services - FCA
The Prudential Regulation Authority Rulebook
Code of Ethics - CII
Transparency and insurance a Companion to the Code of Ethics - CII
Guidance for firms on the fair treatment of vulnerable customers - FCA
FCA - Guidance for firms on the fair treatment of vulnerable customers
Guides and Support - Consumer Duty Alliance
Prudential Regulation - Bank of England
Case studies - Financial Ombudsman Service
Capital modelling: General insurance market overview - Grant Thornton
Capital Modelling Tools - AON
Capital Modelling: Results from our market survey - Grant Thornton
Underwriting Cycle: What it is, How it Works, Managing it
The Rise of the Exponential Underwriter - Deloitte
European Commission guide to Solvency II - EIOPA
Solvency II Own risk and solvency assessment (ORSA) Guidance notes - Lloyd's
Bank of England - Solvency II
CP12/23 - Review of Solvency II: Adapting to the UK insurance market
Competition and Insurance Speech - FCA
Insurance Block Exemption Regulation expired - what now? Simmons and Simmons
The Insurance Block Exemption: The End of an Era - RPC
Wholesale Insurance Broker Market Study - FCA
How the CMA Investigates Competition and Consumer Issues - UK Government
First English judgment on the ‘Duty of Fair Presentation’ under the Insurance Act 2015 - RPC
Insurance Act 2015: Five years on - Simmons and Simmons
First case on the implied term to pay claims within a reasonable time - Herbert Smith Freehills
Better late than never: the first reported case on damages for late payment - Fenchurch Law
The Insurance Act 2015 - An implementation guide - BIBA
The Insurance Act 2015: A practical guide to changes in UK Insurance Law - LMA
The Insurance Act 2015: practical changes for insurers to consider - Pinsent Masons

Start-up scenario

Empowered for the future - Insurance reinvented - KPMG
Insurance investors: Priorities and opportunities - McKinsey
2025 global insurance outlook: Evolving industry operating models to build the future of insurance - Deloitte
Reinsurers’ Underwriting Margins to Peak in 2024 - Fitch Ratings
Risk Appetite Framework Overview - Actuarial Post
How to set risk appetite for an insurance company - Institute and Faculty of Actuaries
What does the FRC's proposed corporate governance overhaul mean for D&O exposures? - RPC
Restoring trust in audit and corporate governance - UK Governance
Corporate Governance Structure of Zurich
40 Growing Insurtech Companies & Startups
The Future Of Insurance: Fintech 50 - Forbes
Bank of England - PRA - FCA Information Sheet

Strategy

Climate change and sustainable finance - FCA
Climate change demands that insurance changes - ABI
Tokio Marine Puts UK Insurer into Run-Off, Now Focusing on Lloyd’s Business - Insurance Journal
ESG: A growing sense of urgency - PWC
ESG in insurance: how to keep up with ESG risks - Grant Thornton
The predictive power of ESG for insurance - Allianz
The insurance industry's path to ESG impact - Deloitte
Insurance example: Aviva announces exit from Italy
Sigma 3/2023 - World insurance - Swiss Re
Statistics release calendar - Office for National Statistics
State of the market: The end of the hard market cycle is in sight - CII
Own goals, cruise con, DIY vandalism - fall in insurance fraud good news for honest customers, but no room to go easy on the cheats says the ABI
Third Party Oversight (Delegated Authority) - Lloyd's
General insurance pricing practices - FCA
Price comparison websites in the general insurance sector - FCA

Underwriting policy and practice

Striking the Balance – Underwriting Between Regulation and Digitisation - Gen Re
Supreme Court judgment in FCA’s business interruption insurance test case - FCA
Asbestos victims to get £123,000 in compensation - UK Government

Pricing

The evolution of pricing - Insurance Hound
Emerging Liability Risks: Harnessing big data analytics - Lloyd's
Price elasticity of demand - Economics Online
Price optimisation for insurance - CII
Underwriting management decision: Impact of a catastrophe - Lloyd's

Managing exposure

How Insurance Uses Location Data to Prepare for Natural Disasters - Carto
Data analytics: An opportunity to rethink risk and insurance? Zurich
Risk Report - Lloyd's Website
Europe: Climate change modelling - Insurance Post
Sigma: Liability claims trends: emerging risks and rebounding economic drivers - Swiss Re
Global forecast 2024: Evolving insurance risks - Kennedys Law
Underwriter of the Future Secrets to Success for Underwriters in the Commercial Insurance Market: 2012–2022 CII
Insurance Industry Market Trends - BIBA
Emerging risks: The Risks of Tomorrow - Munich Re
Insurance supervision: 2024 priorities - Bank of England
Realistic Disaster Scenarios (RDS) - Lloyd's Website
Principle 3: Outwards Reinsurance - Lloyd's
Alternative Risk Transfer - Allianz
Alternative Risk Transfer: Assessment of Structures Beyond Traditional Insurance Buyouts - Hymans Robertson
Parametric Insurance: Alternative risk solutions in a changing world - Swiss Re
How data and analytics are redefining excellence in P&C underwriting - McKinseys
Advanced analytics and the art of underwriting - Deloitte

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