Claims 101

Course Description
In the risk and insurance world, the claims professional plays a vital role. The entire point of insurance is to transfer the financial consequences of loss, and it is the role of the claims department and of claims professionals to execute on the promise made by the insurance policy. This course provides an overview of the world of insurance claims by reviewing the jobs and duties of claims professionals, discussing the three specific bedrock duties and functions that claims professionals carry out, and examining the various roles filled by claims professionals.  It also describes how claims departments are typically organized, what methods they use, and what the typical life cycle of an insurance claim is like. The course concludes with a brief discussion of the art and science of claim reserving.

The course includes the following units:

  • The Key Components of the Claims Professional’s Job
  • Dimensions of the Claims Professional’s Job
  • Roles of the Claims Professional
  • Types of Claims Professionals
  • Claims Department Hierarchy and Organizational Approaches
  • The Life Cycle of a Claim
  • Reserving

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

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