TKF1071 Basics of Takaful Underwriting

Module Description

This module exposes participants with one of the most important parts of Takaful processes that is the underwriting function. It will cover on the objectives and basic principles of Takaful underwriting and the processes as how the Takaful operator assesses an application. Throughout the course, participants will see the underwriting process on classes of Takaful products namely Family and General and the implementation of the Shariah perspective on the underwriting process. This module also covers topics such as control mechanisms for underwriting operations and regulatory requirements that bind to the underwriting processes.

Learning Outcomes

1. Understand the organization of the New business and Underwriting operations from start to finish.
2. Understand the underwriting philosophy and guidelines used by underwriters in assessing the applications.
3. Understand the underwriting process.
4. Identify the underwriting process in assessing Family Takaful’s application.
5. Identify the underwriting process in assessing General Takaful’s application.
6. Understand and able to classify the degree of risk of an application and selecting participants.
7. Describe and discuss critically the company inter-relationships and underwriting.

 

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