In the Insurance Company Operations course, you will learn strategic decision-making strategies for the purpose of satisfying regulatory requirements, meeting compliance standards, product development, underwriting, distributing and marketing, processing claims, and other vital company functions.
Updated and revised 2-day course.
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.
Faculty:
Jay Williams and Bill Reedy
Registration closes on the Monday prior to class
Continuing Education
Attendance at this seminar qualifies for a total of sixteen hours of continuing education credit, which includes 13 general, two hours of ethics and one hour of legislative credit in Oklahoma for P/C and Adjuster licenses. If you are not from Oklahoma, please check with your state to see what credits this class is available for.
Cancellation Policy
We realize that “life gets in the way” and sometimes our stakeholders cannot avoid canceling, transferring and registering late for events. It is important to understand that every event that we host involves both hard and soft costs to the organization and we must be good stewards of our resources.
Hotel Information
Need a hotel?
BIGiOK is pleased to offer ou a discounted rate at the Ellison, Oklahoma City, A Tribute Portfilio Hotel - (6201 N. Western Ave. OKC, OK 73118) CLICK Here to make your reservation. Please use code "E2498" to get our special BIGiOK Discounted Rate.
ALSO! Please see special rates with Embassy Suites in Oklahoma City. https://www.hilton.com/en/book/reservation/deeplink/?ctyhocn=OKCOKES&corporateCode=0003219176
If canceling within one week of class, we will not be able to offer a refund. You may be able to transfer funds from one class to a future class for free if a member to the Association.
If transferring from onsite to online, we will charge a 25% fee within 10 days of the class.
Exam Procedures
The exam will take place the following week opening at 12:01 AM (CST) Monday and will close Thursday at 11:59PM (CST) UNLESS there is a holiday occurring. Questions regarding this exam process can be directed to The National Alliance.
A $25 LATE FEE will be included if registering within one week prior to the course
If cancelling within one week of class, we will not be able to offer a refund. A transfer fee of $50 will be charged if changing classes within a week of class.
Have a login? Login Now
{{vm.loginInfo.errorMessage}}
Create an Account
Forgot your Username or Password?
Register as Guest
Address
Phone
{{slot.Name}}
{{ vm.EventInfo.EventSettings.NoShowPolicy }}