Insurance Company Operations

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$475.00
Available
Seats Available
More Information
Instruction Hours 16
Topics Insurance Company Operations
Programs Certified Insurance Counselors Institutes (CIC)
Start Date Apr 22, 2020
End Date Apr 24, 2020
Learning Options Traditional Classroom

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Topics Covered:

  • Executive Strategies, Regulation & Compliance
  • Actuarial Practices & Accounting
  • Product Development
  • Agency/Policyholder Services
  • Underwriting
  • Claims

San Mateo, CA
April 22-24, 2020
7:30 AM Registration
TBD
UNKNOWN ADDRESS
San Mateo, CA 94404
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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.

Topics Covered:

  • Executive Strategies, Regulation & Compliance
  • Actuarial Practices & Accounting
  • Product Development
  • Agency/Policyholder Services
  • Underwriting
  • Claims

Participants will:

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.


 

Faculty

Faculty Name

Craig Sietsema

Bio Detail

Craig Sietsema launched his career in the insurance world by designing policy booklets, bank checks and company forms for the Foremost Insurance Group in Grand Rapids, Michigan. He expanded this knowledge by joining the company's state filings department in 1993. While there he spent a total of 11 years working directly with the heart of the insurance product across 25 states: the policy contract, the rates and the rating rules for a wide variety of property and casualty products. This work, along with a year in marketing, familiarized him with product management, underwriting, claims, actuarial, advertising, sales, licensing and appointment, call center operations, regulatory affairs, data reporting and implementation management. In 2005, Craig was promoted to spearhead development of Foremost's comprehensive compliance program, touching all aspects of company conduct in the marketplace and working directly with external state regulators who monitor that conduct. In 2010, he was again promoted to a director's role, providing direct support to the Farmers Chief Compliance Officer in Los Angeles, California. This role, further expanded his knowledge and expertise to include anti-money laundering, OFAC sanctions screening, resource acquisition and development, risk management, enterprise training and internal investigations. Craig now heads the compliance function for 5 Farmers business units: Specialty Lines (Foremost), Non-Standard Auto (Bristol West), Independent Agency Distribution, Excess & Surplus Lines and National Flood. He currently manages a team of 9 staff to provide compliance assurance to senior management for each of these business units. Mr. Sietsema has a Bachelor of Fine Arts degree from Kendall College of Art and Design. He earned his CIC designation in 2005, and his CRM designation in 2012. He also earned his Market Conduct Management designation in 2008. He has attended National Alliance classes since 2000 and strongly advocates continuing education. He was a member of Toastmasters for about 10 years, which included service in several officer roles, and served as a church counselor, officer, teacher and leader for over 15 years.

Faculty Name

Allen Messer

Bio Detail

Allen Messer began his insurance career in March of 1971. He has worked for several different insurance companies in various capacities and has been involved in the independent agency system as a producer and agency owner. Allen currently consults agencies, companies, risk managers, and attorneys as well as instructs various seminars and live webinars. He earned his CPCU designation in 1981 where he received the Distinguished Graduate Award for attaining the highest academic average in the Nation. He earned his CIC designation in 1977 and serves as an Educational Consultant and is a National Faculty member of The National Alliance for Insurance Education & Research.