Agency Operations Learning Guide - January 2024 Edition - Digital PDF

This is the Digital PDF. Upon purchase, you'll receive an email with download instructions.

This learning guide covers Agency Operations, part of the Certified Insurance Service Representative designation program. This learning guide covers eight main sections:

·       Ethical & Legal Requirements

·       Managing the Insurance Agency

·       The Insurance Industry and Marketplace

·       Risk Management and Agency Processes

·       Managing Coverage Information Exchange

·       Managing the Agency Workflows and Procedures

·       Account Management

·       Errors & Omission

Section 1: Ethical & Legal Requirements

In this section, you will develop a necessary understanding of ethical behavior and its benefits, identify ethical issues and apply ethical decision-making strategies to them, as well as learn to distinguish between ethical and legal responsibilities. The standard of care and professionalism to which insurance agents are held when conducting business will be examined, as well.

Section 2: Managing the Insurance Agency

In this section, you will gain an understanding of how the agency’s leadership establishes values, vision, and mission statements and how these statements help to shape the agency’s operations, culture, brand, and goals. You will also learn about different types of organizational structures and factors that influence how the agency conducts its operations, as well as the importance of creating descriptions for the various positions within the agency.

Section 3: The Insurance Industry and Marketplace

In this section, you will learn about the different classifications of insurance company ownership, as well as regulation, distribution, and expectations between the insurance company, the agency, and the customer.

Section 4: Risk Management and Agency Processes

In this section, you will gain an understanding of the risk management process and the

importance of having established processes in the agency.

Section 5: Managing Coverage Information Exchange

In this section, you will gain an understanding of why it is critical for the agency to manage the risk of how information is exchanged, the steps to improvement, different information exchange methods, and how to manage digital media platforms.

Section 6: Managing the Agency Workflows and Procedures

In this section, you will understand and identify the necessary skills for account management and be able to explain the steps toward growing new business, servicing new and existing business, and those involved in the renewal process.

Section 7: Account Management

In this section, you will gain an understanding of the financial tools used during the underwriting process, types of account billings, when to use various ACORD forms for proof of insurance coverage, and proper claims handling in the agency.

Section 8: Errors & Omission

In this section, you will gain an understanding of the responsibilities of the insurance agency staff regarding errors and omissions (E&O) issues and claim defense activities. You will come to appreciate the reasons agents are held to a high standard and accountable for their actions, including mistakes—unintentional or otherwise.

This learning guide is the January 2024 edition. If you have signed up for a CISR program through the Risk & Insurance Education Alliance, you will receive the most current learning guide edition with your registration at no additional cost. We recommend utilizing the learning guide that is sent with your course registration. Should you be interested in registering for a course please visit our course schedule.