Glen Ellyn Consulting Group Principal Howard Goldstein will present a seminar, “Insurance Fundamentals,” in Jacksonville, Fla., Nov. 14 from 10 a.m. to 4 p.m., in conjunction with the Society of Insurance Research’s (SIR) Annual Conference.

“Insurance Fundamentals” is described as an introductory course designed to build a foundation for understanding the business of insurance, orienting non-technical insurance people and suppliers to the key terminology, processes and market dynamics of this complex industry.

Goldstein says the conference will cover the following topics:

•    How insurance works: The principles of insurance, the dynamics of how an insurance company makes money and key measurements

•    Major lines of business: A description and brief overview of property, casualty, specialty lines, life, health and other lines of business

•    Definitions/terminology: Decoding some of the acronyms and jargon used in the business and in insurance contracts

•    Regulatory environment: A look at who regulates insurance and how, and the key regulatory issues affecting the industry today

•    Risk management: Risk management principles and how they drive the insurance process

•    How to determine insurability: An overview of the concepts behind how companies determine whether a risk is insurable

•    Distribution systems: Identifying different distribution (sales) approaches, both traditional and emerging

•    Major functional areas: Examining home office and field operation positions, and how they are organized

The seminar was created for the following:

•    Employees of carriers, agents and brokers who are new to the industry

•    Employees of non-insurance companies who want to sell into the insurance market

•    Employees in non-insurance technical positions within insurance companies (such as IT, HR, accounting, etc.), who want to know more about the basics of the industry in which they work

•    Law firms with an insurance company clientele

•    Risk managers and risk management staff

•    Students who are interested in joining a fast-paced business

Goldstein, an adjunct professor at Chicago’s DePaul University, will share his extensive experience in the insurance industry, which spans 25-plus years with CNA, CIGNA and Zurich in various leadership positions.

The conference will be held at the Wyndham Jacksonville Riverwalk. For more information, visit www.glenellynconsulting.com and click on "register" in the "Insurance Fundamentals" section, or visit www.sirnet.org.

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