FAK 2326 Underwriting

FAK 2326 Underwriting

Course code: 
FAK 2326
Law and Governance
Course coordinator: 
Morten Lund
Product category: 
Course in Insurance
2019 Autumn
Active status: 
Teaching language: 
Course type: 
One semester

Kurset passer for alle som jobber med utvikling av forsikringsprodukter på liv- og skadesiden. Dette er også et kurs som passer for de som jobber med rædgivning i forsikringsselskapene og i forsikringsformidlingsselskapene. Kurset er akkreditert av europeiske Eficert (European Financial Certification Organization)

Learning outcomes - Knowledge

The students shall obtain knowledge about how to make insurance contracts, developing risk premium and quoted premium, statistical modelling, budgeting and monitoring of the underwriting results. The students shall further obtain insight in the selection of class of business and design of products, handling the company’s risk exposure and the implementation of control systems.


Learning outcomes - Skills

The students shall be able to evaluate the making of insurance contracts, including which risks are covered, how the premium is calculated, including which factors form part of the basis of calculation and be able to carry out a justifiable analysis and balance between the existing risk, need for insurance and costs.

General Competence

During the course, the students should have acquired a conscious attitude to the fact that their professional choices and advice first and foremost are of importance for other people than themselves.

Course content
  • Selection of class of business and design of products
  • Setting the underwriting policy
  • Developing the risk premium
  • Statistical modeling techniques
  • Management of exposures
  • Developing the quoted premium
  • Implementation of operational controls
  • Budgeting and monitoring results
Teaching and learning activities

Part-time study organized as distance E-learning based on self-tuition and five assignments (mandatory).
Intensive 5 days (2+3) mandatory seminars.

Software tools
No specified computer-based tools are required.

Higher Education Entrance Qualification

Required prerequisite knowledge

The course implies that the student has basic knowledge of the Norwegian insurance industry. The major part of the curriculum is in English.

Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
FAK 23267
Grading scale:
Grading rules:
Internal and external examiner
Examination when next scheduled course
100No72 Hour(s)Group/Individual (1 - 3)Home exam, 72 hours, individual or in groups of up to three students. For authorization purposes the grade must be C or higher.
Exam category:Submission
Form of assessment:Written submission
Grouping (size):Group/Individual (1-3)
Duration:72 Hour(s)
Comment:Home exam, 72 hours, individual or in groups of up to three students. For authorization purposes the grade must be C or higher.
Exam code:FAK 23267
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
Teaching on Campus
35 Hour(s)
15 Hour(s)
Student's own work with learning resources
120 Hour(s)
30 Hour(s)
Sum workload: 

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.