March 23, 2023

Personel used in insurance that You should get to know


There are quite many factors which enhance the process of insurance to both the insured and the insurer.

One of which are the different personel involved in the process of insurance.


Understanding who these personel are and what they offer in the field of Insurance will make it easier for one seeking Insurance to obtain their insurance policy easily by easier consultation procedure for them from the different personel involved in the insurance process.


These personel will enable one to easily get compensation for their insurance policy claims, obtain an Insurance policy faster, understand the dynamics of Insurance and much more.


1. Actuary

This refers to a highly professional person who calculates the premiums to be paid by the insured after analysing the consequences of losses predicted arising from risks insured against by the insurer.

An actuary are always part of the Insurance companies


2. Assessors.

These are people who calculate the loss or calculate the compensation value to be paid to the insured by he insurer.


3. Insurable brokers.

These are independent agents who connect clients seeking insurance in touch with insurers.

They act as middle men in-between the individuals seeking Insurance and insurer.

They always negotiate for better service terms and conditions for mostly the individuals seeking Insurance. So it is advisable for one seeking any Insurance policy with any insurance company to use Insurance brokers to get to their final goal on insurance.


4. Insurance under.

This is a person who accepts or rejects the terms and conditions under which the insured has set.

He sets fair conditions for both the insured and the insurer where returns can be made for both parties in the process of taking an insurance policy.


5. Claim settlement agent.

This is a person who settles or negotiates the claim the insurer is to pay the insured.

The Insurance claim settlement agent has not to be biased to only one party for a win win situation to happen during the claim settlement.


6. Risk manager

This refers to a person whose work is to assess the occurrence of the risks that which an individual wants to insure with a particular insurance company.


7. Investigators.

This is a person appointed by the insurer after the loss has taken place resulting from occurrence of risks being insured against to establish facts that resulted into damage of property


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