This session, presented by Joel Atkins, provides an overview of the operations of a general insurance company, following the life cycle of a policy and exploring additional functions. It highlights how insurance is unique because the product sold is a promise—premiums are collected today for future claims. Key functions include product design, pricing, marketing, distribution, underwriting, risk control, claims, reserving, legal, IT, Enterprise Risk Management (ERM), operations, finance, and HR. Each area contributes to managing risk, fulfilling commitments, and sustaining the insurer’s financial health.
Contributors: Joel Atkins, FCAS, CERA, CSPA, CPCU; Jon Forster ASA, MAAA