Module 2 Flashcards
What is the role of an Actuary?
Someone who applies statistical and probability theory to the problems of insurance
What is the role of an underwriter?
To manage pools of premiums and meet claims from it.
What is the role of claims personnel
To deal with claims quickly, fairly and cost effectively
Who is a loss adjuster?
An independent expert appointed by the insurer to investigate and negotiate settlement
Who is a loss assessor?
An independent expert appointed by the insured to present an negotiate settlement
Who is a forensic investigator?
An expert appointed by the insurer to investigate circumstances of a loss
Who is a surveyer?
An expert appointed by the insurer who may:
give advise on immediate action, underwriting action and if previous requirements are met.
Who is a risk manager?
Experts appointed by the insurer to manage, control and transfer risk
Who is an auditor?
Independent experts who assess how well insurers manage risk
