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Insurance Company Operations Institute
The Insurance Company Operations Institute describes how insurance companies function and why that is important to all insurance and risk management professionals. Learn about the important strategic decisions and tactics used in product development, underwriting, distribution, claims, and other vital company departments.
- Executive Strategies
- Actuarial Practices & Accounting
- Product Development
- Agency/Policyholder Services
Understand the executive level strategies used to determine an insurance companies structure and the regulations and compliance requirements unique to the business. These executive level decisions will include the lines of business, geographic territory, personnel structure, delivery systems, and the use of reinsurance.
Gain knowledge on the role of product development and its importance to the livelihood of an insurance company. The information will range from developing a new product, making coverage adjustments, and anticipating coverage for emerging industries. The involvement of actuaries throughout product development will also be examined.
See why the role of underwriting is so important and how the underwriter is key to this process. Differences in company philosophies and guidelines will be analyzed. The functions described will include underwriting, loss control, and premium audit.
Take a close look at the importance of the relationship between the insurance company and those appointed to distribute their products and services. This will include examining how the company meets the needs of policyholders – from appointing insurance agencies to providing 24/7 customer service.
Explore the claims function from the steps in the claims process, how the claims department interacts with other departments, claim investigation, claim payment, and claim reserving practices.