1 / 25

Good Morning!

Good Morning!. Brief Bio CPCU Mentoring Program Role of an Underwriter. Darcie Kiper, CPCU, CLU. Underwriting Administrator State Farm Insurance Companies 309-763-1360. CPCU Mentoring Program. Matching students with professionals. CPCU…who, what?? .

sprague
Download Presentation

Good Morning!

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Good Morning! • Brief Bio • CPCU Mentoring Program • Role of an Underwriter

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

  3. CPCU Mentoring Program Matching students with professionals...

  4. CPCU…who, what?? • CPCU...Chartered Property & Casualty Underwriters • A credentialed group of professionals who promote excellence through ethical behavior and continuing education • Receive CPCU designation after passing ten comprehensive insurance exams.

  5. Mentor Program • Match students with industry professionals from a medley of careers... • Underwriting, Claims, Business Analysts, Public Affairs, Consultants, Management, Actuary • 900 members in the Central Illinois CPCU Chapter

  6. Possible Activities • Tour 24 Hour Customer Call Centers • Shadow an Insurance Professional • Participate in CAT Claim Activity • Review large information system operation • Receive exposure to a wide spectrum of risk management fields

  7. How do you get Involved? • Sign Mentee Enrollment Sheet • You will be contacted by your assigned Mentor • Assignment will be for the Spring Semester

  8. Benefits to YOU! • Gain broader awareness of a variety of risk management careers • Establish a network of insurance professionals • Explore further areas of personal development

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

  10. Auto UnderwritingDivision Structure

  11. Team Leader’s Responsibilities • Accept/Decline New Business • Monitor Existing Business • Lead a team of Underwriting Service Asst. • Work with a group of approximate 20 agents

  12. 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)

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

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

  15. 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

  16. Underwriting Process • Review for acceptability. Cancel if necessary within looksee period • Apply discounts and surcharges • Add endorsements if necessary • Prepare for Issuance

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

  18. Managing Unprofitable HH • 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

  19. 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

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

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

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

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

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

  25. 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!!

More Related