All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
REGISTERED QUALIFICATION: |
Occupational Certificate: Insurance Underwriter |
SAQA QUAL ID | QUALIFICATION TITLE | |||
117329 | Occupational Certificate: Insurance Underwriter | |||
ORIGINATOR | ||||
Development Quality Partner - INSETA | ||||
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
- | OQSF - Occupational Qualifications Sub-framework | |||
QUALIFICATION TYPE | FIELD | SUBFIELD | ||
Occupational Certificate | Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | ||
ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
Undefined | 163 | Not Applicable | NQF Level 05 | Regular-ELOAC |
REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
Registered | SAQA 12129/20 | 2020-07-30 | 2025-07-30 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2026-07-30 | 2029-07-30 |
In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This qualification does not replace any other qualification and is not replaced by any other qualification. |
PURPOSE AND RATIONALE OF THE QUALIFICATION |
Purpose:
The purpose of this qualification is to prepare a learner to operate as an Insurance Underwriter. An Insurance Underwriter evaluates and interprets information to protect stakeholders' interests using specialist technical knowledge to determine, price, manage and transfer risk. A qualified learner will be able to: Rationale: The currently registered Insurance Agent: Insurance Underwriter was due for review. This prompted INSETA together with industry stakeholders encompassing Insurance Institute of South Africa, recognised market specialists and accredited Skills Development Providers, to embark on the review process. The review was informed by lessons learnt from the pilot project that was implemented. This project highlighted gaps in terms of relevancy, affordability and currency in relation to content. In addition to the above-mentioned reasons, the review took into consideration the latest changes in the regulatory environment, including but not limited to the likes of Twin Peaks, Insurance Acts, and incorporation of the Financial Services Board (FSB) to Financial Sector Conduct Authority (FSCA). This qualification brings professionalism to a highly specialised occupation across the three principal spheres of short term, long term and medical insurance. Learners can be taken from a wide range of individuals, including those with experience in the industry and new entrants. Qualified learners will be able to: apply and adhere to operational, administrative procedures and practices; evaluate basic risk information to determine risk profile and manage risk exposure; apply basic legal and insurance principles to underwriting recommendations and apply knowledge of product and pricing to arrive at an equitable underwriting decision, within insurance (small/medium/large insurance and statutory organisations). Statutory insurance organisations include the Road Accident Fund, National Health Insurance, South African Special Risks Insurance Association (Sasria) and Compensation for Occupational Injuries and Diseases Act (COIDA). This qualification will also benefit individuals who have worked competently within the underwriting profession without any option for formal education to be certificated, based on Recognition of Prior Learning. It further allows learners to advance their careers both horizontally and vertically within the sector and to equip them to move horizontally onto more specialised areas such as Marine, Engineering and Liabilities. The competencies covered in this qualification also expose learners to management concepts in preparation for career advancement. The qualification benefits the industry at large as it ensures that scarce and critical skills are reintroduced into the sector, thereby closing the skills gap. |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
Recognition of Prior Learning (RPL):
RPL for Access to the External Integrated Summative Assessment: Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Accredited providers and workplaces must confirm prior learning by issuing a statement of results or by certifying a work experience record. RPL for Access to the Qualification: Accredited providers and approved workplaces may recognise prior learning against the relevant access requirements. Entry Requirements: |
RECOGNISE PREVIOUS LEARNING? |
Y |
QUALIFICATION RULES |
This qualification is made up of the following compulsory Knowledge, Practical Skill and Work Experience Modules:
Knowledge Modules: The total number of credits for Knowledge Modules: 48. Practical Skill Modules: The total number of credits for Practical Skill Modules: 42. Work Experience Modules: The total number of credits for Work Experience Modules: 73. |
EXIT LEVEL OUTCOMES |
1. Apply and adhere to insurance operational and administrative procedures and practices.
2. Evaluate risk information to determine the risk profile and manage risk exposure. 3. Apply basic insurance legal and principles to underwriting recommendations. 4. Apply knowledge of insurance product and pricing to arrive at an equitable underwriting decision. |
ASSOCIATED ASSESSMENT CRITERIA |
Associated Assessment Criteria for Exit Level Outcome 1:
Associated Assessment Criteria for Exit Level Outcome 2: Associated Assessment Criteria for Exit Level Outcome 3: Associated Assessment Criteria for Exit Level Outcome 4: Integrated Assessment: Integrated Formative Assessment: The skills development providers will use the curriculum to guide them on the stipulated internal assessment criteria and weighting. They will also apply the scope of practical skills and applied knowledge as specified by the internal assessment criteria. This formative assessment leads to entrance into the integrated external summative assessment. External Integrated Summative Assessment: External Integrated Summative Assessment (EISA), conducted through the relevant QCTO Assessment Quality Partner is required for the issuing of certificates for this qualification. The external integrated summative assessment will focus on the Exit Level Outcomes and associated assessment criteria. The external integrated summative assessment will be conducted through integrated written exercises and practical assessment by registered assessors at accredited assessment centres. Assessment will take over a day. |
INTERNATIONAL COMPARABILITY |
International comparability study was conducted in Ireland and Canada. Similarities have influenced the choice of these countries in financial advisory markets.
Ireland: The Insurance Institute of Ireland offers an online long-distance Certificate in Insurance Practice through an institution called IT Sligo. This qualification is aimed at learners who want to pursue a career within the insurance sector. Qualified learners will earn a designation as Certified Insurance Practitioners. The qualification is pegged at NQF Level 7. Learners should have completed a course that earned them the title 'Accredited Product Advisor (APA)', whose modules are also covered in this qualification to access the qualification. Courses covered in this qualification are as follows: Two compulsory modules, Nature of Insurance as well as Compliance and Advice are found in the APA certificate. Learners can also choose any two of the product modules, namely Personal General Insurance, Commercial General Insurance and Health Insurance and Associated Insurances. These modules are also found in the APA certificate. Qualified learners should continue their learning by choosing any two modules from these three: Practice of Risk Control and Underwriting, Practice of Claims and Loss Adjusting, Practice of General Insurance Broking. Upon completion of this, learners will earn the title of Certified Insurance Practitioner. Canada: The National Occupational Classification (NOC 2011) has registered Insurance Underwriters as one of Canada's recognised occupations. Diploma in Business (Insurance) offered by Saskatchewan Polytechnic College and Fanshawe College of Applied Arts and Technology, is one of the qualifications that equip the learner with the necessary skills to become an Insurance Underwriter. This qualification is offered for 2 years. Courses covered in this two-year diploma include general insurance in automobile insurance, commercial law, insurance against liability, insurance broker/agent skills, investigation, risk analysis, insurance on the property, loss adjusting, relationship selling and contracts. Upon completion of the qualification, qualified learners are required to perform the duties listed below: Similarities: This qualification is similar to those insurance related qualifications offered in the Canada and Ireland, in terms of content covered, complexity and overall competencies to be demonstrated by qualified learners. Conclusion: The South African Insurance Underwriter qualification compares favourably with qualification offered in other countries in terms of scope and complexity. |
ARTICULATION OPTIONS |
Horizontal Articulation:
Vertical Articulation: |
MODERATION OPTIONS |
N/A |
CRITERIA FOR THE REGISTRATION OF ASSESSORS |
N/A |
NOTES |
Qualifying for External Assessment:
In order to qualify for the external assessment, learners must provide proof of completion of all required modules by means of a statement of results and work experience records. Additional Legal or Physical Entry Requirements: Criteria for the Accreditation of Providers: Accreditation of providers will be done against the criteria as reflected in the relevant curriculum on the QCTO website. The curriculum title and code is: Insurance Underwriter: 332101-001-01-00. Encompassed Trades: This qualification encompasses the following trades as recorded on the NLRD: This is not a trade qualification. Assessment Quality Partner: |
LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: |
NONE |
PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: |
This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
NONE |
All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |