AGENT AS THE “EYE OF THE UNDERWRITER” AND “INSURANCE RISK ADVISOR” TO CLIENTS

COURSE TITLE


AGENT AS THE “EYE OF THE UNDERWRITER” AND “INSURANCE RISK ADVISOR” TO CLIENTS
COURSE BENEFITS


• Enhances the Agent’s image as a Professional GIA
• Helps client to manage risk to avoid interruption of business caused by controllable hazards
• Provides good communication channel between the Client and the Insurer
• Promotes good business working relationship between the client, the Insurer and the Agent


COURSE CONTENTS

Part 1

• Dual roles of Agent as (1) the “Eye of the Underwriter” and (2) “Insurance Risk Advisor” to clients
Part 2

• Why the need for a survey or inspection to be carried out at the risk premise from the underwriting perspective
• What risk assessment information that Agent needs to obtain from the client and furnish to Underwriter for decision making

• Risk Identification tools (what information can be extracted from the survey questionnaires, photographs of risk, check list, process flow chart, fault trees, annual financial report etc)

• Risk reporting format for use by Agents (Pro-Forma Report or Narrative Report)

Part 3

• Understand the meaning of “risk” and the “exposure hazards” from the underwriting perspective and what advise can be given to the client to minimize an accident from happening
• Identify the assets and liabilities of the Insured and the total value at risk for PML assessment purpose (PML)


Part 4
• Simple Step by step processes in conducting an inspection/survey of the Insured’s premises

o Research
o Preparation
o Approach
o Introduction
o Interview (What to ask)*
o Inspection (What to look for)**
o Exit Interview (Highlights of Hazards identified)
o Follow Up (Risk Improvement & Loss Control Measures)***
*Simulation Exercise on “interviewing” using the Insurer’s prescribed survey questionnaires for effective learning
**Case Study using copies of existing fire or burglary survey report and photographs of the risk for effective learning
***Group discussion on the hazards identified and the risk improvement or loss control measures to be adopted by the Insured


Part 5

• Completing the survey report (can be Narrative and pro-forma) supported by the Agent’s strong recommendation why the risk proposed for insurance should be accepted

Part 6

• Negotiating with the Underwriter for a win-win situation in terms of underwriting decisions, terms of acceptance and conditions etc.


METHODOLOGY

• Power Point Presentation, Questions & Answers, Group Presentation


COURSE DURATION


• 2 Days

FOR WHOM

• General Insurance Agents Who are interested to enhance their technical know how on risk management


FOR ENQUIRIES

Email to enquiry@csh.com.my

TECHNICAL FIRE INSURANCE UNDERWRITING WORKSHOP

FIRE INSURANCE UNDERWRITING WORKSHOP


COURSE BENEFIT

 Technical enhancement of the subject
 More competent and confident in handling fire insurance queries
 Improved job perfomance

COURSE CONTENTS
Session 1
An overview of the 17 Sections of the Revised Fire Tariff (RFT)

Session 2
Comparisons of Coverage between

o Fire and Fire Consequential Loss (FCL) Insurance
o Fire/FCL and Industrial All Risks (IAR)
o Fire and Houseowners/Householders (HO/HH) Insurance
o Fire and BICC
o Fire and Insurance of Growing Trees

Group Discussion: Identifying the key words of policies

Session 3
Extraneous/Special Perils allowed under the respective policies

o Additional rates, extensions and limitations

Case Study: Recommendations based on the risk exposure “Needs” not the Client’s “Wants”

Session 4
RFT Approved Clauses: Purpose and Use and segregated into

o Clauses applicable to buildings only
o Clause applicable to plant and machineries only
o Clauses applicable to stocks only
o Clauses applicable across the board
o Know the premium and non premium clauses

Case Study: The many hidden benefits of Clauses in a fire claim scenario

Session 5
Mandatory and Non Mandatory warranties: 2 fold objectives

o Are used by Insurer as a risk management tool to ensure Insured’s compliance with safety standards
o Can be used by Insurer for some competitive advantage during quotation exercise
Session 6
The 3 Tiers of Rating under the RFT

o Standard Tariff Rate (TSI less than RM10 million)
o Self-Rating (RM10mil-RM30 million)
o Special Rating (RM30 million and above)

Case Study: Rating and Premium Computation for selected risk with various extensions


Session 7
Fire Insurance Risk Assessment

o Understanding the risk in detail to ascertain if quality of risk warrants acceptance
o Sourcing for the risk information through the various risk identification tools (proposal form, survey   report, photographs of risk, annual financial report, flow chart etc)
o For sub-standard features requiring some improvement, what can be done to enhance acceptance

Presentation by group on the findings from the Fire survey report and photographs of risk selected

Session 8
Making sound Underwriting Decision based on risk assessment information obtained

o Use the weight factors (good features versus poor features)
o Justify and record your decision with facts
o Further underwriting terms and conditions deemed fit

Presentation by group on the decision made


Session 9
Fixing of Retention based on the Insurer’s Treaty Arrangement


Session 10
Writing out a Fire Insurance Quotation

o Description of Insured’s details and properties to be insured
o Scope of Cover and Extensions
o Basis of Sum Insured (Reinstatement, Market value, Agreed value, etc)
o Rating applicable based on the nature of trade/construction classification of building to be insured
o Incorporation of Clauses to meet the business needs of customers
o Highlights of warranties and major exclusions
o Writing a Covering Letter together with quotation and attachment

Group Work on this Quotation Exercise for selected risks


Session 11
15 Options for Insurer to compete competitively for fire class of business guided by the rules and regulations of the RFT


Session 12
Presentation of Insurance Program to Customer

o First impression counts
o Introduction & Opening
o Body language
o Use of training aids
o Speech & choice of words
o Closing your presentation with impact

Workshop:  Participants to give a formal presentation of the insurance program and further dialogue and Q&A with Trainer to check for their understanding of the subject


COURSE DURATION

3 Days (9.00am to 5.00pm) with tea breaks and lunch in between


FOR WHOM

Staff of Insurance company involved in Fire Underwriting

FOR FURTHER ENQUERIES:

Email to: enquiry@csh.com.my

SALES TRAINING


GENERAL INSURANCE PRODUCTS:
PROSPECTING, PERSUADING, PRESENTING AND CLOSING THE SALES


COURSE BENEFITS
 High level of confidence in marketing and selling GI products
 Know how to handle sales objections and closing with impact
 Enhanced sales presentation skills



COURSE CONTENTS

1. Are You a “Born” Salesperson or a “Trained” Salesperson
o Characteristics of a successful Sales Person

2. Know All the General Insurance Products that You are selling
o Property Insurance to Liability Insurance to Personal Insurances
o Create a Problem to Sell or Sell to solve a Problem

Group Presentation: Participants to show case their knowledge of the GI products

3. Sales Methodology
o One Off Selling
o Relationship Selling
o High Probability Selling


4. Prospecting Methods
o Through Intermediaries, Cold Calling, Clubs, Conferences, Direct Mail, Expert Pull, Getting Referral, Using Referrals, etc


5. Understand the profile of these buyers and man manage them during sales talk/presentation for win-win situation
o The Relater Buyer
o The Socializer Buyer
o The Analytical Buyer
o The Self-Actualizing Buyer
o The Diver Buyer

Group Discussion & Presentation: Best closing techniques to use for each type of buyer


6. Some effective Closing Techniques
o Adjournment Close, Assumptive Close, Compliment Close, Humor Close, Balance Sheet Close etc


7. Selling is never completed without some form of Objections from Customers
o Types of Objections
o Dealing with “NO”
o Handling Objections (Role Play & Negotiation Techniques)


8. Sales Presentation in a B2B Relationship Selling
o Preparing Yourself
 Personal Appearance
 Know Your Subject (General Insurance/ Market Factors)
 Use the energy you feel
 Wear a Persona
 Check your language and diction
 Getting in “the Zone”
 Effective use of training aids (Projector, Laser pointer, flip chart etc)

 Simulation Exercise: Participants to present their sales proposal and show case the many objections handling techniques and methods and the closing techniques learnt


COURSE DURATION


2 Days (9.00AM TO 5.00PM)

FOR WHOM


Marketing Officers, Front Liners and any others involved in marketing and selling of GI Products
FOR FURTHER ENQUIRIES:

PLEASE LOG ON TO ENQUIRY@CSH.COM.MY