Insurance Company Operations

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Available
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Instruction Hours 16
Topics Insurance Company Operations
Programs Certified Insurance Counselors Institutes (CIC)
Start Date Nov 11, 2020
End Date Nov 13, 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

Nashville, TN
November 11-13, 2020
7:30 AM Registration
Insurors of Tennessee Training Center
2500 21st Ave South, Ste 200
Nashville, TN 37212
615-385-1898
Contact PIA at 615-385-1898 for overnight accommodations.

This event is being conducted by the Insurors of Tennessee

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

John Neal

Bio Detail

John Neal has over 20 years' experience in insurance company operations with specific emphasis in the areas of analysis and financing of risk. Over the past five years John supported the eastern expansion plans with Farmers Insurance. As Manager of Analysis for Risk Management Solutions, he managed a team of ten Risk Management Consultants responsible for supporting Liberty Mutual's Commercial Market Distribution and Service Management Department. John provided analytical support for consulting projects, risk financing design and structuring, finite (financial) insurance products, cost allocation projects, loss analysis, captive support, and industry benchmarking. John has also held positions as a Senior Risk Financing Analyst and Risk Management Consultant. Prior to entering the insurance and risk management field, John worked ten years in the pollution control and medical device industries as a chemical and manufacturing engineer, accountant, and financial manager. John's academic background includes a BS from the University of California, Santa Barbara and an MBA from the University of Pittsburgh. He earned his CRM designation in 2005 and has been included among the CRM National Faculty for The National Alliance.

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.