1. CAREERS IN THE INSURANCE INDUSTRY by Laura Kinchen

2. CAREERS IN INSURANCE: 3 SEGMENTS Three Segments of Insurance Company Operations UnderwritingMarketingClaims

3. CAREERS IN INSURANCE UNDERWRITING Determines: who an insurance company’s customers will be what the companies’ products will be at what price those products will be sold

4. WHAT IS AN UNDERWRITER? Decides whether insurance is provided Identifies and calculates the risk of loss from policyholders Determines appropriate premium Determines policy terms and conditions

5. CAREERS IN INSURANCE UNDERWRITING Line Underwriter Responsible for the day-to-day decisions Must refer to the insurer’s underwriting guidelines Underwriting Management Sets the company guidelines for underwriting Delegates underwriting authority

6. CAREERS IN INSURANCE UNDERWRITING Actuary assess the risk of events occurring and help create policies for businesses and clients that minimize the cost of that risk estimate the probability and likely cost to the company of an event such as death, sickness, injury, disability, or loss of property

7. CAREERS IN INSURANCE MARKETING The process of identifying potential customers and then creating and supplying the products and services they need

8. CAREERS IN INSURANCE MARKETING Four types of distribution systems Independent agency Exclusive agency Direct writing Direct response

9. CAREERS IN INSURANCE MARKETING Independent Agency Independent agents are in business for themselves and usually represent several different insurance companies

10. CAREERS IN INSURANCE MARKETING Exclusive Agency Exclusive agents are in business for themselves but are contracted to do business with only one company

11. CAREERS IN INSURANCE MARKETING Direct Writing Direct writers are employed by an insurance company and rely on personal contact, direct mail, the internet, or telephone contact with the customer for their business

12. CAREERS IN INSURANCE MARKETING Direct Response Direct writers are employed by an insurance company and rely solely on direct mail, the internet, or telephone contact with the customer for their business

13. CAREERS IN INSURANCE MARKETING Advertising Insurance companies use traditional advertising campaigns such as television, radio, magazine, mail and the internet Insurance companies also rely on local agents to advertise the company

14. CAREERS IN INSURANCE CLAIMS Insurance Claims A claim is a demand by a person or business seeking to recover from an insurance company for a loss that might be covered by an insurance policy

15. WHAT IS A CLAIMS ADJUSTER? plan and schedule the work required to process a claim investigate claims by interviewing the claimant and witnesses, consulting police and hospital records, and inspecting property damage to determine how much the company should pay for the loss

16. WHAT IS A COST ESTIMATOR? develop the cost information that business owners and managers need to make a bid for a contract or to decide on the profitability of a proposed new project or product. determine which endeavors are making a profit

17. CAREERS IN INSURANCE CLAIMS Responsibilities of a Claim Adjuster To respond promptly when a claim is submitted To obtain adequate information To properly evaluate the claim To treat all parties fairly

18. ADVANTAGES TO A CAREER IN INSURANCE Recognition Insurance professionals lead businesses and communitiesRewards Competitive compensation matches job satisfaction

19. ADVANTAGES TO A CAREER IN INSURANCE Flexibility The industry invites people to take charge and work at their own pace in any location The industry invites people to take charge and work at their own pace in any locationChallenge People in insurance make a difference by solving problems and helping people People in insurance make a difference by solving problems and helping people

20. ADVANTAGES TO A CAREER IN INSURANCE Variety Every day is a new adventure. The work is as varied as the customers' needs Every day is a new adventure. The work is as varied as the customers' needsAdvancement Self-motivated, skilled people Self-motivated, skilled people advance quickly advance quickly