Insurance Hound

CII

As the premier professional body for the global financial services profession, the Chartered Insurance Institute (the CII) promotes higher standards of integrity, technical competence and business capability. With over 95,000 members in more than 150 countries, the CII is the world’s largest professional body dedicated to insurance and financial services. Our membership covers all disciplines within the insurance industry (claims, broking, underwriting and sales), those working in the life and pensions sector and the mortgage advice market as well as independent financial advisers (under our sub-brand the Personal Finance Society). As one of the largest examination awarding bodies in the UK, we have delivered education to over one million students in 150 countries over the last ten years. The CII is accredited by UK examinations regulator, Ofqual, and our qualifications are also recognised within the English national qualification frameworks. Success in CII qualifications is universally recognised as evidence of knowledge and understanding. Membership of the CII signals a desire to develop broad professional capability and to subscribe to the standards associated with professional status. Our Royal Charter remit is “to secure and justify the confidence of the public” in our members and in the insurance and financial services sector. Never has this been more necessary. The CII is working hard to restore public confidence and trust in the financial services market. We believe this will be achieved by creating a genuine global profession where the best interests of the consumer are to the fore, where ongoing learning and expertise are cherished, and where the highest standards of ethical behaviour are pursued. The CII works with businesses to develop bespoke, company-wide solutions that ensure competitive advantage by enhancing employees’ technical and professional competence. Individually, our members are able to drive their personal development and maintain their professional standing through an unrivalled range of learning services and by adhering to the CII’s Code of Ethics.

The pricing process: Basic concepts and techniques

This fact file covers the basic concepts and techniques of the pricing process in general insurance. Topics covered: the pricing cycle; the traditional approach to pricing; uncertainties around costing; modern approaches to pricing for commercial lines, personal lines and reinsurance risks.