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2/16 W01/March 2017 Award in General Insurance

Insurance professionals

• An underwriter assesses the risk that people bring to the pool and decide whether to accept it and on what terms.
They will then calculate a suitable premium.
2 • The role of claims personnel is to deal quickly, fairly and cost effectively with all claims, whilst distinguishing
Chapter between real and fraudulent claims. They also assess how much the claim will cost so that an adequate reserve is
set aside prior to payment.
• A loss adjuster is an independent expert in handling large or complex claims, and is appointed by the insurer to act
in this capacity.
• A loss assessor is an expert in dealing with insurance claims and is appointed by the policyholder to assist them in
negotiating a claim with the insurer.
• An actuary applies probability and statistical theory to problems of insurance, investment, financial and risk
management and demography.
• The role of the risk manager is the systematic identification, analysis and economic elimination or control of risks
that threaten a business.
• A compliance officer is responsible for ensuring that a firm complies with the regulatory requirements.
• An internal auditor works within a firm to monitor and evaluate how well risks are being managed, the business is
being governed and internal processes are working. Reference copy for CII Face to Face Training