Underwriting Training at AGCS

Financial Lines is a very specific area within industrial insurance that insures professionals and managers in this increasingly demanding business environment.

Directors & Officers insurance (D&O), part of AGCS's Financial Lines product group, is a liability insurance for managers to cover damages or defence costs that may have arisen from lawsuits against them.

Underwriters of Directors & Officers insurance need to have a strong background and deep expertise in legal as well as liability topics. This is why Allianz Global Corporate & Specialty Financial Lines offers a dedicated training program both for its financial lines underwriters and extends an invitation to underwriters from other Allianz units.

Ten participants from six different Allianz units across Asia, Europe (from Germany to Russia), India as well as the Middle East took part in the most recent program in Singapore. The diverse backgrounds of the participants enabled lively exchange of ideas during and after the sessions.

The two-week course encompasses an intensive program schedule of classroom trainings, practical hands-on underwriting and marketing presentations.

Lessons start with an introduction to liability exposures of directors and officers of commercial operations, prospectus liability (initial public offerings), employment practices liability and commercial crime insurance. The program then examines financial analysis, database research analytics, primary and excess policy wordings, deal structuring, underwriting resources and documentation, and finally, rating and quoting techniques.

Discussing financial lines case studies the participants engage in practical hands-on underwriting with AGCS financial lines specialists from the Asia Pacific team.

In addition to offering underwriting training the participants also develop their marketing skills by developing a presentation geared to contemporary issues in their individual markets, which are critiqued by marketing and underwriting specialists. The presentations are recorded so that the participant can individually review their own performance.