CIC Insurance Company Operations Institute
In the Insurance Company Operations course, you will learn strategic decision-making strategies for the purpose of satisfying regulatory requirements, meeting compliance standards, product development, underwriting, distributing and marketing, processing claims, and other vital company functions. Topics Include:
Executive Strategies (2 hours)
Learn what executive-level strategies to use to determine an insurance companys structure. Understand what regulations and compliance requirements are unique to the insurance business. Learn the role of executive-level decision-making in lines of business, geographic territory, personnel structure, delivery systems, and technology.
Actuarial Practices & Accounting (2 hours)
Learn how actuarial practices support the financial viability of an insurance company and the role they play in reports to state insurance departments and financial regulators. Learn about the work of actuaries in the insurance industry, as well as accounting processes and profitability ratios.
Product Development (2 hours)
Learn to explain how insurance product development relates to the livelihood of an insurance company. Identify sources of new insurance product development, discuss modifications of existing insurance products, and learn about creating insurance coverage for emerging industries.
Agency/Policyholder Services (2 hours)
How can an insurance company improve its agency/policyholder services and meet policyholder needs and expectations? Examine a variety of services that affect policyholders, including the appointment of insurance agencies, product delivery methods, and the provision of around-the-clock customer service.
Underwriting (4 hours)
Explain the importance of underwriting to an insurance company. Learn about the value of underwriting. Identify differences in company philosophies and analyze company guidelines. Discuss the use and types of reinsurance methods. Examine the purpose, function, and role of the loss control and safety specialist. Understand the purpose of a premium audit, the auditors responsibilities, types of audits, and the impact of those audits.
Claims (4 hours)
Understand the steps in the claims process and the purpose and functions of each. Understand how a claims department interacts with other departments within a company. Discuss claim investigation and evaluation, claim payment, and claim reserving practices.
This program is part of the Certified Insurance Counselor (CIC) Designation Program. Learn more about CIC