CMA organises training programme on basics of general underwriting

Muscat: The Capital Market Authority (CMA) continues providing training programmes for the national carders working for the insurance sector and commenced a training programme on the Basics of General Underwriting in collaboration with OWS Training  Consultancy Institute.

The programme which began on May 23 will continue until May 27 and is part of the 2021 training programmes related to the Tamkeen initiative which aims to empower the national cadres working for the insurance sector and will be organised through ZOOM.

Basics of general underwriting is a significant training programme and aim to acquaint the participants with the basics of underwriting such as the roles of insurance underwriters with the participation of the employees of operational departments in insurance companies.

The participants will be acquainted with underwriting practices and procedures in addition to using statistical data in underwriting operations besides introducing pricing principles and practices, the factors affecting the underwriting profitability and the impact of employing information technology in underwriting.

CMA has annual training plans including short term and long term programs to achieve the Tamkeen vision in the insurance sector. The 2021 plan is based on the quality of the programmes to furnish specialised cadres. Omanisation ratio in the insurance sector at the end of 2020 was 79 per cent with 51.7 per cent in senior positions, 72.4 per cent in medium positions and 85.7 per cent in the operational roles.