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Darcie Kiper, CPCU, CLU

Darcie Kiper, CPCU, CLU. Underwriting Administrator State Farm Insurance Companies 309-763-1360. Good Morning!. Brief Bio Role of an Underwriter Career Opportunities. Auto Fire - Commercial, Personal Lines Life/Health. Underwriting at State Farm. Auto Underwriting Division Structure.

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Darcie Kiper, CPCU, CLU

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  1. Darcie Kiper, CPCU, CLU Underwriting Administrator State Farm Insurance Companies 309-763-1360

  2. Good Morning! • Brief Bio • Role of an Underwriter • Career Opportunities

  3. Auto Fire - Commercial, Personal Lines Life/Health Underwriting at State Farm

  4. Auto UnderwritingDivision Structure

  5. Team Leader’s Responsibilities • Accept/Decline New Business • Monitor Existing Business • Lead a team of Underwriting Service Asst. • Work with a group of agents

  6. Typical Day of a Team Leader • Phone calls from agents, claim reps, and policyholders • Review claims and review existing business • Underwrite new business applications • Monitor activities of EWT (empowered work team)

  7. Other TL Activities • Present at Agency Meetings • Make field visits to agency group • Attend meetings • Train on new initiatives

  8. Factors impacting Premiums • Driver Experience • Use of Vehicle • Age, Gender, Marital Status of Driver • Type of Vehicle • Territory Garaged • Coverages Selected

  9. Underwriting Process • Verify Driving Record of all household drivers with available resources • Verify correct territory rating • Verify vehicle rating - IRG • Review use of vehicle • Classify policy • Code to statistically track experience

  10. Underwriting Process • Review for acceptability. Cancel if necessary within look-see period • Apply discounts and surcharges • Add endorsements if necessary • Prepare for Issuance

  11. Resources Available • MVR - Motor Vehicle Record • CLUE - Loss History Report • UDR - Undisclosed Driver Report

  12. Managing Unprofitable Households • Review experience with other SF Lines • Send Warning Letter • Increase Deductibles or Nonrenew specific coverages • Exclude driver(s) • Nonrenew/Cancel Mutual Business and offer coverage in Standard Company

  13. Factors Impacting Underwriting Decisions • Frequency of HH Claims • Frequency of Claims per Driver • Severity of Claims • MVR • Time with State Farm • Other Lines w/SF

  14. Case Studies….. I need three volunteers!

  15. Industry Trends • 24 Hour Customer Service • Changes in Distribution Channels - Agents, Direct Writers, Internet • Experience Improving due to safer, better made vehicles • Technology improving underwriting efficiencies

  16. New Underwriting Concepts • Credit Rating • Progressive - ‘Black Box’ • Point of Sale Underwriting

  17. Characteristics of a solid TL • Academically Sound • Strong Communication Skills • Interpersonal Skills • Leadership Characteristics • Customer Service Oriented • Goal Oriented/Driven • Community Service

  18. Career Opportunities • Auto Underwriting - Management • Systems - Business Analyst • General Underwriting • Public Affairs • Human Resources • Management Planning and Information Services

  19. Recommendations… • Do your homework…StateFarm.Com • Job Shadow • State Farm Summer Intern Program

  20. Best Wishes!!! • If you ever have any questions regarding SF employment…. Call 309-763-1800 • Questions regarding the mentoring program 309-763-1360 Go ILLINI!!

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