Risks are the possibilities of a loss. Determine what premium is sufficient for coverage. Determine rates that are fair for the company and the policyholder. Help determine the reserves and surplus the company must establish to cover future losses. Claim Representatives investigate, evaluate, and authorize payments on claims per the terms of the policy.
Agents sell insurance and provide personal service to policyholders.
The service often includes services such as financial planning, claim payments and community involvement. Exclusive agents sell only one company's insurance products. Independent agents sell many companies' products. Brokers represent policyholders rather than insurance companies. Direct mail uses no agents.