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Insurance

Summary

The role of those working in the insurance department centre around making sure that all of the insurance packages offered by the company are compliant with local and national laws. They need to work with the entire company to ensure they find packages that suit all parties while remaining within the regulations. 

Typical activities

  • Work with all faculties to develop relevant insurance policies.
  • Oversee these polices and ensure they are being put in place correctly.
  • Work with all employees to find what packages are effective.
  • Remain up to date with all regulations regarding insurance.

Summary

Life actuarial employees are tasked with assessing the various risks of the company and helping those working in the life insurance department to develop the right policies. They may be directly involved with the development of these policies, while also maintaining a working knowledge of all legal and insurance regulations at a local and national level.

Typical activities

  • Perform valuation and other relevant calculations for the business.
  • Prepare and manage financial reports and assess the risks and liabilities of the company.
  • Tailor and set the rates of individual insurance policies.
  • Develop relevant and effective insurance products.

Synonyms and related job titles

Actuary, Demographer, Mathematician

Summary

Non-life actuarial employees work with the insurance department to provide actuarial services for all business and non-life insurance policies. They help to provide and work with statistical data to determine the liability for payment of future claims and benefits. They are involved in assessing the overall state of the company’s liabilities.

Typical activities

  • Review premium rates and the methods used to calculate them.
  • Forecast the future claims liabilities.
  • Involved in the general strategic planning of the business.
  • May work in projects and investigations.

Synonyms and related job titles

Actuary, Mathematician

Summary

Claims employees in the life department work with the insurance department to make sure that all of the life related claims are being processed effectively. They may also help to develop suitable policies and make the relevant recommendations for changes. They will also be required to lease with external professionals such as doctors and solicitors.

Typical activities

  • Handle life claims for the organisation.
  • Liaise with external professionals as and when required.
  • Monitor the processing of all life claims.
  • Make recommendations for life policies.

Synonyms and related job titles

Claims Assessor, Adjuster

Summary

Employees working with non-life claims help to handle all claims that are non-life within the business. They need to make recommendations for the policies of the business, but also remain involved with each and every claim from the first piece of advice to the final settlement. They oversee the processing of all claims to make sure it is being done effectively.

Typical activities

  • Handle the non-life claims for the organisation.
  • Responsible for all aspects of claims from start to finish.
  • Make the relevant policy recommendations.
  • Liaise with external professionals when necessary.

Synonyms and related job titles

Appraiser, Claims Assessor, Claims Inspector, Loss Assessor, Insurance Assessor, Valuer, Adjuster

Summary

Insurance product development employees work closely with both the company’s customers and the insurance department to ensure that all insurance products are meeting the needs of the customers. They will also need to anticipate movements in the financial markets to be able to exploit opportunities to create better and more efficient policies.

Typical activities

  • Develop and implement insurance products.
  • Anticipate and explore movements in the markets.
  • Work directly with customer base to identify key needs.
  • Work with other members of insurance department.

Please match in this collective family all specialized Insurance jobs that cannot be assigned to one of the above-mentioned families. Competencies from the parent family will be shown. A selection of parent family-specific Benchmark Job Matches is available and can be selected manually. The availability of benchmark job matches depends on the survey vendor chosen.

Summary

Life underwriters are involved directly with the rest of the insurance department to oversee the production of efficient life insurance products. They need to maintain a good knowledge of the regulations surrounding insurance, in order to make sure that the company is compliant with these regulations at a local and national level.

Typical activities

  • Apply standard rates and calculate new premiums.
  • Assess risks and pricing of policies.
  • Maintain working knowledge of regulations.
  • Work with insurance department to make efficient policies.

Synonyms and related job titles

Underwriter

Summary

Underwriters associated with non-life claims are responsible for the application of standard rates and assessment of non-life renewals and endorsements related to the company. They ensure the general liability approaches of the company are in line with current local and national regulations and advise changes where necessary.

Typical activities

  • Apply standard rates and evaluate new premiums.
  • Assess risk and pricing of the company.
  • Maintain a strong working knowledge of current regulations.
  • Work with all kinds of financial risks.

Synonyms and related job titles

Underwriter

Summary

Reinsurance underwriters carry out tasks to maintain the legal integrity of the company insurance policies. They assess the risk and pricing of the business to ensure its value, and they advise the other departments of the business on the necessary changes that need to be made. They apply standard rates and calculations on all new business related to the reinsurance underwriting unit.

Typical activities

  • Apply standard rates and calculate premiums.
  • Assess risk and pricing of the business.
  • Ensure company values.
  • Maintain a strong working knowledge of all legal regulations concerning underwriting.

Synonyms and related job titles

Underwriter