Please login here to register for the event.

11/15/2023 & 11/16/2023 Insurance Company Operations - CIC (Classroom)
November 15 - 16, 2023
Big I MN (Training Room Located on Lower Level - LL20)
601 Carlson Parkway, Suite LL20, Minnetonka, MN 55305
Executive and Financial Management (6 hours)

In this section, agents are introduced to terminology common to discussions of insurance company operations.  In addition to becoming familiar with critical terms and fundamental concepts, they will gain a “big picture” understanding of the various facets, activities, and concerns of the operations within an insurance company. 

Product Development (2 hours)

Agents will understand the product development process that occurs within an insurance company.  They will be able to identify the information the product development department uses to establish the tactical plan.  They will apply the 5-step process used in the product development process to design and implement a product.  They will evaluate the effectiveness of a product development team’s use of the actuarial process to determine the price and performance of a product.

Underwriting (3 hours)

Agents will learn about the steps, tools, and structure used by insurance company underwriting departments.  They will gather information about the impact of market cycles, as well as the purpose of reinsurance and loss control.  They will examine premium audits and the technology needed to support the underwriting process.

Claims Management (3 hours)

Agents will learn about the claim’s management process – from planning to managing to technology.  They will evaluate a claim regarding the roles of subrogation and salvage.  They will analyze the problem of fraud from the perspective of a special investigative unit and consider the appropriate solution.  They will discuss the possible outcomes when an insurance company acts in bad faith.  They will better understand the claims technologies and how they impact the success of the claim’s department and the insurance company.

Product Distribution (2 hours)

Agents will learn how insurance products move from the development process to distribution.  They will compare various methods used to create the brand.  They will be able to differentiate between the various methods of distribution and determine where they are most effective.  They will evaluate methods intended to support policyholder services.  They will explore the technology available to support the sales and marketing functions. 

Agenda • Instructor and More