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Does anyone know where I could find readily accessible information on the interaction of different positions within an insurance company (i.e. underwriters, policy writers, sales, actuaries, etc.)? I am applying for a job online and I have to write an explanation about this and I have no clue since I have no insurance experience yet. Thanks for your help ahead of time!
Last edited by gbarber; August 11th 2005 at 01:21 PM.
I know some med programs require essays, but since when do you have to write an essay when you apply for a job in the insurance industry?
I think it's for Mutual of Omaha
One reason they ask you to write an essay is to make sure you have command of the english language. Many people who may have above average statistic abilities may not be able to write very well. Your essay is also to perhaps show that you can present complex actuarial concepts to non-actuaries in a simple way. Keep that in mind in your essay writing. There is sometimes also a perceived wall between actuarial and other departments. They may want to make sure you do not subscribe to that way of thinking.
Last edited by admin; August 11th 2005 at 08:49 PM.
I appreciate everyones input on my application, and I have no problem writing the essay, but can anyone tell me where to find the answer to the question?????
I need to know where I can go to read and learn what they are asking me to explain. I can put information together into written form rather well and I have experience explaining complexities in simple terms, but right now I need it explained to me! Is there something on teh web or a good book I could find at the library?
Originally Posted by gbarber
I read a text book called Introduction to Risk Management and Insurance which had general information about the insurance industry which might be useful. I think the book is by Dorfman. You might be able to find it at a university library. I doubt a public library would have a copy.
The big key is to understand what each person does. What does an underwriter do? What does a policy writer do? What does an actuary do? From there, it should be somewhat intuitive to make the connection.
However, because I'm in a good mood at the moment, I'll get you started. Underwriters assess the risk of a proposed insured and determine whether the proposed insured is a good risk for the company and the policy should be written or if the risk is too high and the policy should not be written; the underwriter also assesses the amount of risk the proposed insured brings. Actuaries develop the tools for the underwriter to assess the risk by looking at past claims experience along various segments (size, type, ...) and help generate the models the underwriters use.
That should get you pointed in the right direction - now you have to connect all the other dots.
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