E. DECISION MAKING and F. ETHICS and G. CAREERS

Problem Recognition in Global Environments

Identify risks affected by international laws, culture, currency, politics, supply chains

Benchmarking

Compare company data to competitors or industry standards to find strengths + weaknesses

Optimizing ERM Decisions

Balance risk exposure with potential rewards using ERM frameworks and data

Analyzing Risk of Potential Clients

Review application data, financial history, claims history, occupation, lifestyle to approve/deny

Ethical Decision Making (Fiduciary Duties)

Duty of care: accurate work, due diligence, honest communication, act in client’s best interest

Confidentiality Agreements

Legal promises to protect personal or sensitive information from disclosure

Data Security Measures

Encryption, locked files, password protection, limited access, secure storage

Privacy Regulations

State + federal laws preventing unauthorized sharing of private info; penalties for violations

Insurance Industry Jobs

Agent, broker, underwriter, actuary, claims adjuster, appraiser, loss control specialist

Industry Organizations

NAIC, III, CPCU Society, state insurance boards, professional associations

Knowledge & Skills Required

Risk analysis, communication, customer service, math, legal understanding, documentation accuracy

Roles & Responsibilities in Insurance

Underwriter = evaluates risk + sets premiums
Agent = sells policies + guides clients
Actuary = calculates risk + prices policies
Claims Adjuster = investigates and settles claims
Loss Control = prevents accidents + reduces hazards

Licensing & Certification Programs

State insurance licenses; continuing education; CPCU, CLU, ARM certifications