1. SIR Proposed Research Certification Program August 2016

2. Background  SIR has been focused on adding value to its offerings for members--to support the research function in the industry, and to help grow membership at SIR  Sharon asked for a focused effort on this in 2016  Discussions about a Research Certificate Program have come up a number of times  Vickie Kilgore discussed the possibility at The Institutes, but the there was no clear interest in taking this on.  In January 2016, St. John’s was engaged in discussions about this issue.

3. St. John’s University  St. John’s University has a well-known School of Risk Management and a well-regarded Insurance Library  Larry Pistell, the head of continuing education, has been our main contact in the discussions  Larry attended the SIR Spring Workshops to better acquaint himself with the Society and the content matter. Sharon Markovsky furthered discussions at the event  Mike Warner met with Larry Pistell and Ismael Rivera, Head of the Insurance Library on June 8 th to work through more specifics  Jen Evert and Vickie Kilgore reviewed and provided feedback in July

4. Partners’ Involvement  St. John’s helps to turn information into educational materials  St. John’s SRM could put promote through their CE program center (Center for Education)  New Level Partners is the online course development partner that St. John’s has used previously and recommends for this project.  Presumably New Level Partners would be paid directly by SIR, St. John’s participation needs not yet clear (direct pay, revenue share, both?)

5. Value to Participant/Members  What SIR would like each participant to take away from a program would be:  A clear understanding of the use of research skills in the insurance industry  Knowledge of standard industry data and secondary research sources and how to use them  Understanding company-specific data and how it can be used in analyzing performance  Basics of primary research, secondary research, competitive analytics  Presentation skills  Data analytics skills and proficiency with related tools  Building strategic support for insurance research within the company

6. Program Delivery  Primarily online courses, supported by  Readings  Webinars  Whitepapers  Specific SIR conference sessions  Other classroom training, perhaps at St. John’s SRM in NYC  Certification program would have 6 or so modules, or segments

7. Course Development  Define and delineate topics for a segment  Reach out to subject matter experts (SME’s), receive input from SME’s (SIR Members) in rough form, and continuous refinement of that input  Edit, format, and convert content with the help of development partner  Identify and include collateral materials/collateral events  Develop testing instruments

8. Proposed Course Segments  1- Primary research  II - Secondary Research  III - Introduction to competitive intelligence  IV - Introduction to data analytics  V - Strategy development & support for insurance research specialists  VI - Presentation skills for insurance research specialists

9. Participant Takeaways  Completion certificate for each module  Full certification after successful completion of all six modules—Insurance Research Certification from St. John’s

10. Draft Financials—All to Be Confirmed  Anticipated cost for each module: approximately $7-10K. Perhaps $60K development all-in.  Per-module fee to participants: $295  At six modules, $1770 for full certification program  Development cost breakeven at 34 full participants; or 203 modules—May be more to SIR depending on revenue sharing

11. Potential Benefits to SIR  Increase attendance at related events (Spring Workshops, classroom sessions before or after Annual Conference)  Raise visibility of research function in industry, supporting members  Raise visibility of SIR in the Industry  Engage members and promote networking at live events  Attract new members and part time researchers

12. Next Steps  If Board agrees to continue, next steps would include  Develop potential working arrangements with partners  Develop proposed budget  Survey membership for interest  Create staggered implementation plan to minimize downside risk in case of lack of market interest  Other?

13. Discussion & Board Direction