 Level I - Loss Control Fundamentals
Level I - Loss Control Fundamentals is a 14-course suite that introduces the learner to the commercial insurance industry, the loss control profession, property and casualty coverages and the role loss control reps play in an organization.
Course 1: Introduction to the Commercial Insurance Industry
In this course, learners will be introduced to the Commercial Insurance Industry, the Loss Control Profession and RepLearning's Certificate of Completion
Program that is designed to help them succeed in their loss control careers. The reps will learn about the three great challenges facing anyone entering
this career field and will be challenged to become life-long learners in their profession.
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Course 2: Introduction to the Loss Control Profession
In this course, learners get a more revealing look at the role of a Loss Control Professional and how survey or risk assessment work is performed. For perspective, loss control surveys are compared (and contrasted) with other "inspection" work such as OSHA and Fire Code Inspectors. Due to the unique nature of loss control surveys, learners will be challenged to develop a strong practical knowledge of the primary commercial insurance coverages and the leading loss sources that accompany them. The value of a loss control assessment to the underwriter is emphasized.
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Course 3: Introduction to Property Coverages
In this course, learners will be introduced to the concept of property and casualty insurance coverages. The emphasis of the course is on the basic property coverages and the exposures that need to be addressed during the loss control survey. The extended property coverages (Broad Form and Special Form) are also discussed. A brief introduction to the inland marine coverages (Builders Risk, Contractors Equipment and EDP) is also included.
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Course 4: Introduction to Casualty Coverages
In this course, learners will be introduced to the wide array of Casualty coverages and the practical differences. General Liability, Contractor's Liability, Products-Completed Operations, Business Auto, Motor Carrier, Garage and Garage Keeper's coverage and Workers ' Compensation insurance are all introduced. The introduction of these coverages provided in the course will form the foundation upon which our Level Two courses will build. After completing this course (and Course 3), the rep will possess a clear understanding of the differences in property and casualty coverages.
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Course 5: Managing Your Workload and Territory
In this course, we address some of the practical skills loss control reps need as they begin to move toward field work. One of the "surprises" for many loss control reps is how challenging it is to manage and schedule loss control surveys due to the continuous flow of assignments. In this course, reps will learn the importance of managing their work by "geographic clusters," due dates and by maintaining good communication with their supervisor. Practical tips and weekly organizing skills are also emphasized.
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Course 6: Scheduling Your Appointments
Contacting accounts to arrange appointments can be an awkward process for many reps, especially early in their career. In this course, reps will gain confidence in this area by relying on the information in the survey request to help them conduct a professional phone call. Reps will learn how to introduce both themselves and the purpose of their call in a professional manner. This will help them to schedule effectively, while setting a good professional tone for the survey that is to follow. Practical tips about closing the call and securing good directions are also addressed.
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Course 7: Survey Preparations and Methods
This course stresses the importance of pre-survey preparation as a key to conducting an effective survey (as well as writing a professional loss control report). In this course, reps will be introduced to four basic steps that should be taken to prepare for every survey, especially early in their career. Reps will also learn how to organize the interview and the physical survey in such a way that they can stay on course with their "pre-survey plan." The concept of a "raw materials to finished goods" survey is also introduced.
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Course 8: Report Writing: Why It Matters
Courses 8-14 all focus on the loss control report-the only "product" a loss control rep produces. The course presents a "real world" look at what happens to the loss control report after it leaves the rep's hands. Since the loss control evaluation (and report) is critical to their career development (and their future earnings), reps are introduced to the importance of the report and to whom it matters the most: underwriters, agents, accounts and their loss control organization. Pride in workmanship is emphasized.
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Course 9: The Description of Operations
In this course, learners are introduced to the Description of Operations section of the report - typically the first section of any loss control report. As a result, this first impression of the report not only provides underwriters with valuable exposure information, but it sets the tone and foundation for the rest of the report. Reps will work through a practical example in this course as they learn to develop information about the account's operations, products, and services. For professional emphasis, reps learn the importance of providing percentage breakdowns in key areas of an account's operations.
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Course 10: Management Characteristics and Controls
In this course, the importance of good management controls is emphasized from both the underwriting and loss control perspectives. Reps will be introduced to a practical series of obvious and "not so obvious" desirable management controls. Reps will also learn the important role loss prevention plays in any organization, regardless of size. Finally, reps will learn four practical questions that can be asked of any account to quickly assess the account's current emphasis on loss prevention.
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Course 11: Exposures and Controls
In this course, learners are introduced to the concept of evaluating the exposures and controls of an account based on the coverages being surveyed. The exposure-control concept is emphasized as a "survey mentality" that helps to distinguish the rep and their report with a high degree of professionalism. The course presents a practical look at how many of an account's exposures can actually be assessed (and reported on) to help focus the rep's attention on both the key exposures for an operation as well as any unexpected exposures. Reps will learn to "quantify, quantify, quantify" exposures and controls whenever possible.
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Course 12: Evaluating Loss Experience
In this course, learners are introduced to the concept of evaluating an account's loss performance. With or without loss runs, reps are directed to focus attention on frequency trends, high dollar claims (severity) and identified loss issues that might give insight into future loss potential. The importance of evaluating the impact of loss history on future account performance is also emphasized.
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Course 13: Loss Control Recommendations
In this course, learners are introduced to both the importance of loss control recommendations and the chain reaction they set off for all parties involved in the insurance process. As a result, many practical aspects of presenting recommendations are discussed including the "Where, What, How and Why" aspect of the recommendation. Professional recommendations are emphasized as an important part of the rep's "product." This includes addressing the account's commitment to the recommendation(s) and the impact on the account's exposures.
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Course 14: Opinion of Risk
In this final course on the loss control report, the loss control rep is introduced to the Loss Control Opinion of Risk. The difference between the loss
control opinion and the underwriting opinion of an account is emphasized along with several practical guidelines for forming the Loss Control Opinion. Reps
will learn how their opinion of risk will increase in value over the course of their careers. Practical guidance is also given on how to effectively
support the Loss Control Opinion of Risk.
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