Work exp: Insurance Underwriting insurance, Insurance, experience, auto

bluejazzy

I have 2.5 yrs of equity research experience and prior to that, I worked as an Insurance Underwriter wherein my job function primarily involved analyzing, selecting and pricing auto insurance risk exposures.

Would insurance underwriting be considered relevant work experience for the charter? Has anyone submitted similar experience to CFAI and got accepted/rejected or have any ideas as to how to present it?

Thank you for any suggestions!

soverby

bump. anybody?

Underwriting Team Leader
- Analyze risk characteristics of insurance applicants and make decisions regarding risk selection, placement, classification and pricing of auto insurance
- Conduct presentations for State Farm agents to promote understanding of the company's actuarial, underwriting, and marketing programs and train them in underwriting areas; provide assistance to agents and their staff on special cases
- Analyze agents' book of business and develop recommendations for growth and profitability; conduct analysis to understand structure of their risk portfolio



Edited 1 time(s). Last edit at Tuesday, September 2, 2008 at 02:43PM by chintz.

giants2010

Perhaps you could try to tailor it a bit more to the curriculum?
E.g. Maybe mention development / application of factor models to assess risk?

Did the pricing of insurance premiums take into consideration the investment returns from the other side of the business, or was the firm genuinely trying to make underwriting profits?

Palantir

No way in heII will that work. I got in w/ underwriting experience under the old requirements, but then I was doing commercial D&O liability, so it actually involved firm analysis, and fell under the prevailing work experience requirements. With all due respect, you're an auto insurance underwriter, which generally entails filling in the blanks on a worksheet (i.e. Toyota Prius or Toyota Camry) and reading the number it spits out, a far cry from anything IM-related (since the investment side of a p&c co. is generally outsourced, and miles away from underwriting).

I know if I'd been doing personal insurance underwriting (or even commerical auto) I would have been eating arsenic by the bowlful within 3 months.

OmarAdnan

I would say the insurance work experience is more relevant for the CLU designation.

Willy

RMontgomery

Hi folks

I am also not sure whether my experience in REINSURANCE is relevant to work experience required by CFAI. In the past i was doing pricing XOL treaty reinsurance, handling inward for D&O and casualty, i was also member of Risk Management and Asset Liablility committee of an P&C insurance company.

does anyone have same situation with me?

Thank you very much in advance.

canadiananalyst

D&O underwriting IS considered relevant experience. Many moons ago I worked in that industry and there were several CFA Charterholders who were also underwriters.

Not sure about reinsurance, depends on what you actually did. I'm sure there are roles in the reinsurance area that would qualify since it's risk management (on the underwriting side).

Auto = no way. Sorry.

Muddahudda

Thank you very much, bizval4! for reinsurance, i handled inward treaty which i had to price excess of loss treaty based on statistics concering premium, loss. Hopefully it is acceptable by CFAI.

Thank you again, bizval4!

RepoToronto

I think you'll be good then. As long as you worked on the analysis of risk and determined the pricing accordingly you'll be fine. It's more/less credit analysis on a larger scale - depending on the types/size of risk you were analyzing.

Best of luck!

SFoyil

i am shocked that the CFAI would think that insurance underwriting is acceptable work experience. just saying...

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CFA Jay, CFA