August 2012 – Canadian-based LOGiQ3 Corp. (LOGiQ3) – providing unique life underwriting training solutions to the insurance industry – has recently entered into a partnership with Munich Reinsurance Company, Canadian Life and Health Operations (Munich Re) for the use of their North America Life Underwriting Manual, EDGE, as part of LOGiQ3‘s underwriting training program.
LOGiQ3 has been providing underwriting training since 2007. Its unique underwriting program has trained 90 underwriters across Canada and the Caribbean. In April, 2012, LOGiQ3 brought their training program online and launched their E-Learning solution, offering underwriters the opportunity to learn anywhere, anytime. The training program is distinctive due to its emphasis on real-life application with the use of real production type underwriting case studies, as well as a post-training mentorship program.
Munich Re’s EDGE manual is a web-based life underwriting manual used for mortality and morbidity risk assessment. EDGE was developed by underwriters for underwriters, and features numerous calculators – some unique in the industry – incorporating new and competitive methods of assessing risk.
“We are very excited to be able to offer our underwriting students the use of Munich Re’s EDGE manual in Canada, the Caribbean and, now, the US as a guide during the practical learning of the training,” says Carmela Tedesco, Vice President of LOGiQ3. “The students will be able to assess risk based on their training and judgment, using the EDGE manual as a guide. The manual is accessible online, which supports both our traditional classroom and E-Learning programs.”
“Munich Re has been committed to underwriting training and education in the Canadian and Caribbean markets for both our staff and clients in supporting the continued growth of underwriting excellence now and in the future,” adds Joan Tolan, Vice President, Underwriting, North America of Munich Re. “We are supportive of LOGiQ3‘s underwriting training program, with eight of our own employees graduating from the program over the past two years.”
The EDGE manual will be available for insurance organizations and non-industry individuals enrolled into the LOGiQ3 training program throughout the Canadian, Caribbean and US markets. This partnership strengthens both companies’ commitment in providing training and tools to inform underwriters on best practices and new innovations in life underwriting.
LOGiQ3 is the expert provider of life insurance and reinsurance consulting and outsourced services. LOGiQ3 delivers long-term strategic solutions and short-term tactical support across Underwriting, Reinsurance Administration, Claims and Audit. LOGiQ3 supports clients across the life insurance service chain from agent to retrocessionaire from its offices in Toronto, Canada, and Cardiff, UK. www.LOGiQ3.com.
About Munich Re
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client relationships. This is how Munich Re creates value for clients, shareholders and staff. In 2011, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €0.71bn on premium income of around €49.6bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. www.munichre.com.