Associate, Life Management Institute (ALMI)
Insurance Administration – LOMA 301
Objectives:
Provides a detailed discussion of the activities of insurance administration for individual and group life coverages, focusing on underwriting, reinsurance, claims, and customer service.
Target Group
People working in the insurance industry or new aspirants who want to join the industry.
Contents:
• Overview Of Insurance Administration
- Insurers’ Ethical Duties to Customers
- Insurance Administration Functions
- Other Insurance Functions
• New Business Processing and Underwriting Principles
- New Business Process
- New Business/Underwriting Quality Control
• Legal Aspects of Underwriting
- Regulatory Compliance Issues Affecting Individual Insurance Underwriting
• Legal & Compliance
- Regulatory Compliance Issues Affecting Group Insurance Underwriting
• Underwriting Individual Life Insurance: Assessing Mortality Risk
- Medical Risk Factors
- Personal Risk Factors
• Underwriting Individual Life Insurance: Financial Underwriting & Risk Classification
- Financial Underwriting
- Risk Classification
• Niche Policies, Business Life Insurance, Replacement and Supplemental Benefits
- Underwriting Niche Policies
- Underwriting Business Life Insurance
- Underwriting Supplemental Benefits
• Underwriting Group Life Insurance
- Group Underwriting Process
- Risk Factors for Group Underwriting
• Overview of Claim Administration
- Claim Philosophy and Claim Practices
• Administering Life Insurance Claims
- Evaluating Life Insurance Claims
- Handling Supplemental Benefits
• Reinsurance Overview
- Roles of Insurance Companies in Reinsurance Arrangements
- Indemnity Reinsurance
• Reinsurance Administration
- Reinsurance Staffing and Systems
- Administering New Business
- Administering Claims under Reinsured Policies
- Auditing Reinsurance Operations
• Effective Customer Service
- Qualities of Effective Customer Service
- Benefits of Providing Effective Customer Service
- Customer Service Organization
Duration
30 Training Hours