Index

Index INDEX.
Insurance Company Operations
Index
A
abandonment rate, 14.21
accidental death benet, 13.1113.12
accountability, 1.9
account administration, 6.5
accounting, 6.4, 6.5, 7.37.4
comprehensive business analysis
responsibilities for, 10.6
conservatism in, 7.77.8
as functional area, 1.15
relation with customer service
department, 14.5
standards for, 7.7
systems for, 7.57.12
underwriters collaboration with, 12.18
accounts, 7.3
ACD. See automatic call distributor
ACLI. See American Council of Life Insurance
active management strategy, 8.5
actuarial
nancial management working with, 6.9
interacting with claims, 13.3
department, 14.5
actuarial associations, 2.8
Actuarial Society of India, 2.8
address changes, 14.10
ad hoc committee, 1.22
administrative activities, in product
development, 10.10
admitted assets, 7.10
ADR. See alternative dispute resolution method
advanced underwriting, 11.12
adverse selection, 12.7
advertising, 9.8
afliated agency system, 11.21
afliated agent, 11.6, 11.7
afnity groups, 9.12
age and amount requirements chart, 12.11
agency bonds, 8.12, 8.13
agency-building agents, 11.6
agency contract, 11.4, 11.5
agency operations, 9.29.3, 10.6
agent-broker, 11.8
agents, 11.411.14
support for, 11.811.13
agents statement, 12.11
aggressive nancial strategy, 6.10
Copyright 2012 LL Global, Inc. All rights reserved.
ALM. See asset liability management

alternative dispute resolution (ADR), 3.7
American College, 2.6
American Council of Life Insurance (ACLI),
5.7
amortization, 8.13
annual report, 6.18
Annual Statement, 6.22, 7.7, 7.97.10
annuities, 1.3
administration for, 13.1813.19, 13.20
processing new business for, 12.412.5
annuitized options, 13.20
annuity benets administration, as functional
area, 1.15
annuity commission schedules, 11.7
annuity date, 13.19
annuity surrenders, 14.12
antidiscrimination laws, 4.18
antiselection, 12.7
antivirus software, 5.18
application
for employment, 4.10
for insurance, processing of, 12.4
application software, 5.3
appoint, 11.10
APS. See attending physicians statement
aptitude test, 4.12
arbitration, 3.7
arbitrator, 3.7
asset/liability committee, 1.21
asset/liability management (ALM), 6.7, 8.6
asset/liability managers, 6.7
asset manager, 6.7
assets, 6.15
asset valuation, 7.97.10
Association of Home Ofce Underwriters
(AHOU), 2.6
Association of Life Insurance Counsel (ALIC),
2.8
associations, membership in, 2.8
assuming company, 1.8
attending physicians statement (APS), 12.13
audit committee, 1.21, 6.3
auditing, 6.86.9, 7.157.16
audit log, 12.18
audit/risk committee, 6.3
audits, 2.142.15, 6.23
authority, 1.9
authority levels,
in underwriting operations, 12.17
in claim administration, 13.17
in customer service operations, 14.19
www.loma.org
INDEX.2 Index
automated workow distribution, 5.10

automated workow system, 5.10
automatic call distributor (ACD), 5.17, 14.8
automatic payment plan, 14.11
B
background check, 4.11, 4.13
balance sheet, 6.18, 7.8
bancassurance, 11.1711.18
bank reconciliation, 6.5
bank relations, 6.5
banks, as distributors of insurance products,
11.1711.18
BARS. See behaviorally anchored rating scale
basic accounting equation, 6.18
behaviorally anchored rating scale (BARS),
4.17
behavioral tendencies test, 4.12
benchmarking, 2.13, 14.22
beneciaries, legal department working with,
3.73.8
beneciary changes, 14.10
benets, determining payable status of,
13.613.11
best practices, 2.13
Bests Database Service, 5.7
BI. See business intelligence
blocked calls, 14.21
board of directors, 1.5, 1.9, 1.11, 1.20, 1.21
bond rating, 8.11, 8.12
bonds, 8.6, 8.98.13, 8.16
bonuses, 4.18
branch ofce, 3.4
broadcast media, as distribution channel, 11.20
broker, 11.8
broker-dealer, 11.1611.17
budget committee, 1.21
budgeting, 7.117.12
budgets, 2.14, 9.5
budget variance, 2.14
business analyst, 5.4
business analytics, 5.12, 9.14
business-to-business (B2B) e-commerce, 5.16
business development support, 11.11
business intelligence (BI), 5.115.12
business market, 9.10
business process risk, 6.12
business process technology, 5.105.13
Buyers Guide, 10.810.9
buy-and-hold strategy, 8.5
C
call provision, 8.11
CAM systems. See customer asset management
systems
Canadian Institute of Actuaries, 2.8
Canadian Securities Association (CSA), 6.21
www.loma.org
capital, 3.4
capital gain, 8.9
capital loss, 8.9
capital management, 6.15, 6.16
capital ratio, 6.20
capital and surplus, 6.196.21
capital and surplus ratio, 6.20
career agent, 11.5, 11.7
Career Choice (LIMRA), 11.9
cash accounting, 6.5
cash ow, 6.166.17
cash-ow management, 6.166.17
cash ow statement, 7.9
cash forecasting, 6.6
cash inow, 6.16
cash management, 6.5, 7.137.14
cash outow, 6.16
CCO. See chief compliance ofcer
ceding company, 1.8
centralized organization, 1.131.14
CEO. See chief executive ofcer
certicate of authority, 3.4
certicate of insurance, 12.20
CFO. See chief nancial ofcer
chain of command, 1.13
Chartered Insurance Institute, 2.6
chief architect, 5.4
chief auditor, 6.8
chief claim ofcer, 13.3
chief compliance ofcer (CCO), 3.3
chief counsel, 3.3
chief executive ofcer (CEO), 1.91.10
chief nancial ofcer (CFO), 1.10, 6.3, 6.4
chief information ofcer (CIO), 1.10, 5.35.4
chief investment ofcer, 6.7
chief marketing ofcer (CMO), 1.10
chief operating ofcer (COO), 1.10
chief technology ofcer (CTO), 5.4
chief underwriter, 12.5, 12.7
China Insurance Regulatory Commission
(CIRC), 10.9
churning, 11.4
CIO. See chief information ofcer; chief
investment ofcer
claim adjudication, 13.2
claim adjustor, 13.3
claim administration, 13.213.3
international laws regarding, 13.18
claim analyst, 13.3
claimant, 13.4
claimants statement, 13.5
claim approval, 13.10
claim approval limits, 13.4
claim approver, 13.3
claim denial, 13.11
Index INDEX.3
claim department
legal departments responsibilities to, 3.6
organization of, 13.313.4
relation with customer service department,
14.5
claim examiner, 13.3
claim form, 13.5
claim fraud, 13.6, 13.1513.16
claim handling, 13.2
claim investigation, 13.813.10, 13.1513.16
claim philosophy, 13.4
claim practices, 13.5
claim processing, 13.2
for life insurance, 13.513.15
quality control in, 13.16, 13.17
claims
calculating amount payable, 13.1113.13
identifying proper payee for, 13.1413.15
paying the proceeds, 13.13
regulatory requirements for, 13.1713.18
claim servicing, 13.2
claim specialist, 13.3
classroom training, 4.14, 4.15
cleaning, of data, 5.65.7
click-wrap, 12.4
client services, 14.3
cloud computing, 5.13
CMO. See chief marketing ofcer;
collateralized mortgage obligation
CMS. See content management system
code of business conduct, 2.5
code of conduct, 2.5
code of ethics, 2.5
Code of Professional Ethics (LOMA), 2.9
Codication of Statutory Accounting Principles,
7.7
cognitive abilities test, 4.12
cold calling, 11.14
collaborative browsing, 14.8
collaborative software, 5.16
collateral, 8.12
collateralized mortgage obligation (CMO), 8.14
commission, 1.6, 4.18, 11.611.7
committee, 1.201.22
common stock, 8.14
Companies Bill (2009 Amendment; India), 2.3
company limited by guarantee, 3.4
company limited by shares, 3.4
compensation, 4.164.18
competition risk, 6.12
competitive intelligence, 9.149.15
complaint management system, 14.14
complaint team, 14.14
compliance, 3.2
compliance department, 3.83.11

14.5
compliance manuals, 3.10
comprehensive business analysis, 10.410.5,
10.6
comprehensive examinations, 3.113.12
comptroller, 6.4
computer operator, 5.4
computer telephony integration (CTI), 5.17
concentrated marketing, 9.12
concept testing, 10.4
concurrent control, 2.102.11, 2.12, 2.14. 2.15
in claims, 13.17
in customer service, 14.19
condentiality, 2.72.8
conservation, 14.16
conservative nancial strategy, 6.10
conservative investment strategy, 8.3
constituent, 1.4
consumer market, 9.10
consumer reporting agency, 12.22
content management system (CMS), 5.10
contestable period, 13.813.9
control, 7.16
as element of distribution decision, 11.21
tools for, 2.142.15
control cycle, 2.12
control function, 2.10
controller, 6.4
controlling, 2.3, 2.92.15
controlling interest, 1.22
convertible bond, 8.11
COO. See chief operating ofcer
corporate bonds, 8.12
corporate communications committee, 1.21
corporate governance, 2.22.3
corporation, 3.33.5
cost, as element of distribution decision,
11.1911.21
cost accounting, 7.12
cost allocation, 7.12
coupon payments, 8.9
coupon rate, 8.9
credit activities, short-term, 6.6
credits, 12.14
critical incident evaluation, 4.17
CRM. See customer relationship management
cross-selling, 14.17
CSA. See Canadian Securities Association
CSR. See customer service representative
CTI. See computer telephony integration
CTO. See chief technology ofcer
currency risk, 6.12
current assets, 6.19
current liabilities, 6.19
www.loma.org
INDEX.4 Index
current ratio, 6.19

customer asset management (CAM) systems,
5.17
customer behavior risk, 6.12
customer care center, 14.3
customer complaints, 14.1414.15
customer contact center, 14.3
customer experience management, 14.8
customer focus, 14.8
customer loyalty, 14.4
customer relationship management (CRM),
5.175.18, 14.814.9
customer relationship management systems,
5.17
customers, 1.5
characteristics of, as element of
distribution decision, 11.22
customer satisfaction survey, 14.20
customer service, 14.214.3
control mechanisms for, 14.1814.22
computer telephony integration
used for, 5.175.18
department organization for, 14.314.4
department relationships, 14.4, 14.5
education and training for, 14.614.7
effectiveness of, 14.414.9
nancial transactions in, 14.1114.14
for group products, 14.1714.18
nonnancial transactions in, 14.1014.11
processes for, 14.914.18
typical job positions for, 14.4
customer service associate, 14.4
customer service representative (CSR), 2.9,
14.4
customer value management (CVM) programs,
5.17
CVM programs. See customer value
management programs
D
dashboard, 5.12
data, 5.5
database, 5.6, 5.7
external, 5.7
internal, 9.14
database administrator, 5.4
database management system (DBMS), 5.65.9
data governance, 5.185.19
data mining, 5.9, 9.14
data warehouse, 5.65.9
Day 1 functionality, 10.10
Day 2 functionality, 10.10
DBMS. See database management system
www.loma.org
death certicate, 13.9

debenture, 8.12
debit agent, 11.6
debits, 12.14
debtor-creditor groups, 9.12
debt securities, 8.6, 8.13
decentralized organization, 1.131.14
decision support system, 5.11
declined class, 12.9
default risk, 6.12, 8.11
delegation, 1.13
demutualization, 3.43.5
departmentalization, 1.12
Department of Labor (U.S.), 4.8
desktop technician, 5.4
development, for employees, 4.134.14
differentiated marketing, 9.13
directing, 2.32.4
direct mail, 11.20
direct response distribution systems, 9.8, 11.3,
11.19, 11.20, 11.21
direct writer, 1.8
disappearance of the insured, 13.10
disaster recovery, 5.185.19
disbursement accounting, 7.6
discharge, 4.19
disclosure document, 10.9
discount, 8.10
discrimination, 12.22
distribution, 9.8
decisions related to, 11.1911.22
distribution channel, 11.2
distribution system, 11.2
diversication, 6.116.13, 8.48.5
dividend payments, 14.13
division of labor, 1.12
DMS. See document management system
document management system (DMS), 5.9,
14.7
Dodd-Frank Wall Street Reform and Consumer
Protection Act, 6.21
domestic corporation, 3.4
dotted-line relationships, 1.13
downstream holding company, 1.23
drug tests, 4.11, 4.13
DSS. See decision support system
dual control, 7.2
E
e-commerce, 5.16
economists, 6.7
EDI. See electronic data interchange
education
as aspect of regulatory compliance, 3.10
for customer service, 14.614.7
to promote ethical behavior, 2.6
electronic data interchange (EDI), 5.16
electronic insurance application, 12.4
Index INDEX.5
electronic mail. See e-mail

e-mail, 5.14
empathy, 14.20
employee benets, 4.18
Employee Retirement Income Security Act
(ERISA), 4.19
employees, 1.6, 11.4
development of, 4.134.14
legal department working with, 3.8
selection of, 4.104.13
training of, 4.134.14
employment application, 4.104.11
employment interview, 4.11, 4.124.13
encryption, 5.15
enhanced service support, for agents, 11.12
enterprise architect, 5.4
enterprise data warehouse, 5.75.8
enterprise management tools, 5.17
enterprise risk management (ERM), 6.136.14
equity security, 8.6
ERISA. See Employee Retirement Income
Security Act
ERM. See enterprise risk management
error rate, 14.21
e-signature, 12.4
essay appraisal, 4.17
estate planning, 11.12
ethics, 2.42.9
ethics ofce, 2.5
evaluation and control methodology, 9.5
event risk, 6.12
evidence of insurability, 12.11
exception-based underwriting, 12.4
exception reports, 2.15, 5.12
exclusion, 13.9
executive committee, 1.21
executive summary, 9.5
expense, 6.17
expense accounting, 7.12
expense analysis, 7.12, 9.16
expense management, 6.13
expertise, as element of distribution decision,
11.2122
expert systems, 5.12, 12.4, 12.11
external audit, 3.10, 6.23
external customer, 1.5, 1.6
external databases, 5.7
external environment, 9.16
external labor supply, 4.8
external recruitment, 4.84.10
external replacement, 14.1314.14
external standards, 2.13
extranet, 5.14, 5.15
F
face value, 8.9
Fair Credit Reporting Act (FCRA), 12.22
Fair Labor Standards Act (FLSA), 4.18
FASB. See Financial Accounting Standards
Board
favorable variance, 7.11
fax machine, 5.18
FCRA. See Fair Credit Reporting Act
feasibility study, 10.5
federal government bonds, 8.12, 8.13
Federal Home Loan Mortgage Corporation,
8.13
Federal National Mortgage Association, 8.13
feedback control, 2.11, 2.12, 2.15
in claims, 13.17
feedforward control, 2.10
eld advisory council, 10.7
eld force, 11.6
eld ofce, 11.6
eld underwriters, 12.7
eld underwriting, 12.11
eld underwriting manual, 12.11
nance, 6.2
nancial accounting, 7.57.10
Financial Accounting Standards Board (FASB),
7.8
nancial advisor, 11.16
nancial compliance, 6.196.23
nancial condition examination, 6.22
nancial consultant, 11.18
nancial design, 9.6
nancial holding company model of
bancassurance, 11.17, 11.18
Financial Industry Regulatory Authority
(FINRA), 6.21, 11.17
nancial information, condentiality of, 2.8
Financial Instruments and Exchange Law
(Japan), 2.3
nancial management, 6.2, 6.4
responsibilities of, 6.96.19
nancial operations, 6.2
nancial reporting, 6.4, 6.5, 7.87.10, 7.11
nancial statement, 6.17
nancial strategy, 6.10
nancial underwriting, 12.13
FINRA. See Financial Industry Regulatory
Authority
rewall, 5.145.15
rst-contact resolution, 14.21
rst-year commission, 11.6
xed-amount option, 13.13
xed-income investment, 8.8
xed-period option, 13.13
www.loma.org
INDEX.6 Index
at extra premium method, 12.16

FLSA. See Fair Labor Standards Act
focus groups, 10.4
Follett, Mary Parker, 2.3
fraternal benets society
(fraternal insurer), 1.5, 7.7
fraud, 13.1513.16
function, 1.14
functional areas, 1.14, 1.15
G
GAAP. See generally accepted accounting
principles
general account, 8.8
general accounting, 7.6
general agency, 11.6
general agent, 11.6
general counsel, 3.3
generally accepted accounting
principles (GAAP), 7.7
general obligation bonds, 8.13
General Regulation 250 (Chile), 13.18
GLB Act. See Gramm-Leach-Bliley Act
goal, 1.11
going-concern concept, 7.7
government bonds, 8.12
Gramm-Leach-Bliley (GLB) Act, 12.22
graphic rating scale, 4.17
group insured, 12.21
group life insurance, risk factors for, 12.21
group member, 12.19
group products, customer service
processes for, 14.1714.18
group representative, 11.1511.16, 12.19
groupthink, 4.9
group underwriting, 12.1912.21
H
hardware, 5.3
health information, condentiality of, 2.8
hedging, 6.13
help desk technician, 5.4
holding company, 1.221.24
home country, 4.5
home country stafng, 4.5
home service agent, 11.5, 11.6
host country, 4.5
host country stafng, 4.5
hosted applications, 5.13
HR department. See human resources
department
HTTP protocol, 5.3
human resources, 4.2
human resources department, 4.24.3, 4.14
human resources planning, 4.34.8
www.loma.org
I
IASB. See International Accounting
Standards Board
idea generation, 10.4
IFRS. See International Financial
Reporting Standards
image advertising, 9.8
imaging, 5.9
income statement, 6.17, 6.18, 7.9
incorporation, 3.4
independent agent, 11.4, 11.711.8
independent audit, 3.10, 6.23
independent contractor, 11.4
independent director, 1.9
independent nancial advisor, 11.16
individual employer groups, 9.12
industry associations, 2.8
inows, 12.2
information, 5.5, 5.6
information fraud, 5.18
information management, 5.2, 5.55.10
information resources, 5.2
information services, 5.2
information technology, as functional area, 1.15
information technology (IT) department, 5.25.5
department, 14.5
information theft, 5.18
inside director, 1.9
inside information, 2.7
insider trading, 2.7
insolvency, 6.19
instant messaging, 5.14
institutional advertising, 9.8
institutional investing, 8.2
insurance, laws restricting sale of, 12.22
Insurance Act (India), 11.11
insurance aggregators, 5.16
insurance brokerage, 11.17
insurance broker-dealer, 11.17
insurance company, as distribution
channel, 11.1811.19
insurance-owned broker-dealer, 11.17
insurance producer, 1.6
Insurance Regulatory and Development
Authority (IRDA; India), 6.22, 10.9, 11.11
insured, 1.3
integrated data warehouse, 5.75.8
interactive voice recognition (IVR) system,
5.17, 14.7
interdepartmental standing committees, 1.21
interest option, 13.13
interest-rate risk, 6.12, 8.14
interest spread, 8.3
Index INDEX.7
internal audit, 3.10

internal control, 6.86.9, 7.16
internal control systems, 3.10
internal customer, 1.6
internal databases, 9.14
internal environment, 9.16
internal nancial audit, 7.15
internal labor supply, 4.74.8
internal recruitment, 4.84.9
internal replacement, 14.13
internal standards, 2.13
International Accounting Standards Board
(IASB), 7.8
International Claim Association, 2.6
International Financial Reporting Standards
(IFRS), 7.8, 7.11
international operations, HR planning for, 4.5
Internet, 5.3, 5.14, 5.15
Internet chat, 5.14
Internet sales, 11.20
interpleader, 13.14
intranet, 5.14, 5.15
intrusion detection software, 5.15
investigative consumer report, 13.15
investment accounting, 7.6
investment activity report, 8.6
investment analysts, 6.7
investment committee, 1.21, 6.3
investment fund allocations, 14.11
investment-grade bond, 8.12
investment operations, 6.66.7, 6.8, 8.58.9
investment portfolio performance review, 8.6
investment portfolios, 8.78.9
investment risk, 6.12, 8.38.5
investments, 6.11
evaluation of, 8.58.6
management of, 8.2
objectives for, 6.7
policy for, 6.7, 8.28.3
strategies for, 6.7
types of, 8.98.16
IRDA. See Insurance Regulatory and
Development Authority
irrevocable beneciary, 14.9
issue instructions, 10.8
IT. See information technology
IT security, 5.185.19
IVR. See interactive voice response system
JK
jet unit, 12.512.6
job description, 4.9
job posting, 4.9
job rotation, 4.14
job skills test, 4.12

joint and survivor life annuity, 13.20
joint venture, 3.4
joint venture model of bancassurance,
11.17, 11.18
L
laboratory tests, 12.13
labor supply, 4.74.8
labor union agreements, 4.18
Labour Bureau (India), 4.8
launch team, 10.10
law department, 3.23.3. See also
legal department
law rms, 3.63.7
lawsuit, 3.6
layoff, 4.19
legacy system, 5.11
legal, 3.2
legal department, 3.23.8
relation with customer
service department, 14.5
legal professional associations, 2.8
lessee, 8.15
lessor, 8.15
LexisNexis, 5.7
liabilities, 6.15
license, 3.4
licensing, for insurance producers, 11.10
life annuity, 13.20
life income option, 13.13
life income with period certain annuity, 13.20
life insurance
benets, common uses for, 1.3
claim process for, 13.513.15
coverage changes, 14.11
policy surrenders, 14.12
Life-1, 6.22
life only annuity, 13.20
life with refund annuity, 13.20
Life Underwriters Association of Canada, 2.8
LIMRA Online, 5.7
line function, 1.14
liquid assets, 6.6
liquidity, 6.6
liquidity management, 6.6, 7.14
liquidity risk, 6.12
litigation, 3.63.7
location-selling system, 11.14
lockbox, 7.13
LOMA, 2.6, 2.9
LOMA Societies, 2.8
London Stock Exchange, 8.7
www.loma.org
INDEX.8 Index
loss, verication of, 13.10

lower-level managers, 1.10
M
management, 2.3
functions of, 1.101.14
levels of, 1.91.10
management accounting, 7.5 , 7.107.14
management by objectives, 4.17
manager of agency operations, 11.811.9
market analysis, 10.5
market conduct compliance, for producers,
11.1211.13
market conduct examination, 3.113.12, 3.13,
12.18
market conduct laws, 1.7, 3.83.9
marketing, 9.2
activities of, 9.9, 9.10
as functional area, with sales, 1.15
information for, 9.139.16
organization of, 9.29.4
14.5
marketing audit, 9.17
marketing controls, 9.169.17
marketing department, 4.3
marketing environment, 9.16
external, as element of distribution
decision, 11.22
marketing information system, 9.139.14
marketing mix, 9.69.8
marketing objectives, 9.5
marketing plan, 9.49.5, 10.5
marketing projections, 10.5
marketing research, 9.159.16
marketing staff, underwriters collaboration
with, 12.18
marketing strategies, 9.5
marketing support, for agents, 11.12
market intelligence, 9.149.15
marketplace regulation, 1.7
market risk, 6.12
markets, identication of, 9.99.13
market segment, 9.99.10
market segmentation, 9.99.11
mass marketing, 9.12
master application, 12.20
master budget, 7.11
master group insurance contract, 12.20
material information, 2.7
material misrepresentation, 13.713.9
maturity date, 8.9
maturity value, 8.9
MBO. See management by objectives
mediation, 3.7
mediator, 3.7
www.loma.org
medical attendants report, 12.13

medical report, 12.12
medical tests, 12.13
medical underwriting, 12.1212.13
medical underwriting director, 12.7
member services, 14.3, 14.17
mentor, 4.14
mentoring, 4.14
MIB Group Inc. (MIB), 5.7, 12.12
middle-level managers, 1.10, 1.12
MIHC. See mutual insurance holding company
misconduct, ethical, 2.5
misdirected calls, 14.21
mission statement, 1.21.3
misstatement of age or sex, 13.1213.13
mistaken claim, 13.6
MNC. See multinational corporation
moment of truth, 14.18
monitoring, 14.20
Moodys Investors Service, 8.12
mortality risk, 12.2
mortgages, 8.138.14, 8.16
multinational corporation (MNC), 3.4
multiple-employer groups, 9.12
multiple-line agent, 11.5, 11.6, 11.7
multistate examinations, 3.11
multivariable segmentation, 9.109.11
municipal bonds, 8.12, 8.13
mutual fund, 8.8
mutual insurance companies, 1.5, 1.22,
1.24, 7.7
mutual insurance holding company (MIHC),
1.24
mutualization, 3.5
mystery shopper, 14.20
N
NAIC. See National Association of Insurance
Commissioners
NAIC Group Life Insurance Model Act, 12.19
NAIC Model Privacy Act, 12.22
name changes, 14.10
NASDAQ. See National Association of
Securities Dealers Automated Quotation
System
National Association of Insurance
Commissioners (NAIC), 3.11, 5.7
National Association of Insurance and Financial
Advisors (NAIFA), 2.8
National Association of Securities Dealers
Automated Quotation System
(NASDAQ), 8.7
National Safety Council (India), 4.19
net cash surrender value, 14.12
net income, 6.17
network administrator, 5.4
networks, 5.3, 5.145.15
Index INDEX.9
new business, organization of, 12.512.6

administration of, as functional area, 1.15
processing for, 12.312.5
new products, types of, 10.3
New York Stock Exchange, 8.7
Nikkei Exchange, 8.7
NILS INSource, 5.7
nonadmitted assets, 7.10
nonannuitized options, 13.20
nonmedical supplement, 12.12
nonproprietary product, 11.1811.19
nonpublic information, 2.7
nontobacco users, 12.8
numerical rating system, 12.1312.15
O
objective, 1.11
Occupational Safety and Health Administration
(OSHA), 4.19
Ofce for National Statistics (U.K.), 4.8
Ofce of the Superintendent of Financial
Institutions (Canada), 6.22
ofcers, 1.10
ombudsman, 2.5
on-the-job training, 4.14, 4.15
operational planning, 1.12
operational risk, 6.12
by customer, 1.19
by distribution system, 1.19
by function, 1.17
by product, 1.18
by territory, 1.18, 1.19
organizational market, 9.10
organization (org) chart, 1.13
organizing, 1.121.22, 2.3
orientation, 4.13
orphan policyowner, 14.11
OSFI. See Ofce of the Superintendent of
Financial Institutions
OSHA. See Occupational Safety and Health
Administration
OTC market. See over-the-counter market
outows, 12.2
outside counsel, 3.63.7
outside director, 1.9
outsourcing, 4.54.6, 5.13
overriding commission, 11.8
over-the-counter (OTC) market, 8.7
P
page views, 9.14
paramedical report, 12.12
partially admitted assets, 7.10
partial surrender, 14.12
par value, 8.9
payee, identifying, 13.1413.15
payroll accounting, 7.6
performance, measurement of, 2.1314
performance appraisal. See performance

evaluation
performance dashboard, 5.12
performance evaluation, 4.144.16, 4.17
performance goals, 4.144.16
performance monitoring and review, in product
development, 10.1010.11
performance standard, 2.13
performance test, 4.12
performance tools, 4.16, 4.17
persistency, 11.5, 12.8
requirements, for agents, 11.711.8
persistency rate, 14.21
personal information, condentiality of, 2.8
Personal Information Protection and Electronics
Document Act (PIPEDA; Canada), 12.22
personality test, 4.12
personally identiable information (PII), 2.8
personal producing general agent (PPGA), 11.8
personal selling, 9.7
methods of, 11.1311.15
personal selling distribution systems, 9.8,
11.211.16
personal underwriting, 12.13
personnel department, 4.24.3
pharmaceutical database, 12.13
PII. See personally identiable information
PIPEDA. See Personal Information Protection
and Electronics Document Act
planning, 1.111.12, 2.3
platform employee, 11.18
policy accounting, 7.6
policy dividends, 1.5, 14.13
policy ling, 10.8
policyholder behavior risk, 6.12
policy loans, 8.16, 14.12
policyowners, 1.5
policyowner service, 14.3
policy ownership changes, 14.10
policy rider, 14.11
policy settlement options, 13.13
policy summary, 10.9
Porter, Michael, 1.14
portfolio, 6.7
portfolio managers, 6.7
positioning, 9.89.9
PPGA. See personal producing general agent
pre-contract training, 11.911.10
pre-employment tests, 4.11, 4.12
preferred class, 12.9
premium (bonds), 8.10
premium accounting, 7.6
premium payment changes, 14.11
premium rates, 12.1512.16
premium taxes, 7.6
prevention, as aspect of regulatory compliance,
3.93.10
price, 9.69.7
pricing risk, 6.12
www.loma.org
INDEX.10 Index
principal, 8.3
print media, as distribution channel, 11.20
print operator, 5.4
privacy, 2.72.8
privacy legislation, 12.22
private placement, 8.7
problem resolution team, 14.14
processes completed, 14.21
processing centers, 14.3
producer associations, 2.8
producer group, 11.8
producer of record, 14.11
producers, 1.6, 11.211.4, 12.7
14.5
product design objective, 10.5
product development, 10.2, 10.3
14.5
product development committee, 1.21
product distribution, legal departments
responsibilities to, 3.6
product implementation, 10.810.10
product implementation committee, 1.21
production requirements, for agents, 11.711.8
product mix, 9.6
product planning, 10.4
product portfolio, 9.6
product risk, 6.12
products, 9.6
advertising of, 9.8
characteristics of, as element of
distribution decision, 11.22
knowledge of, among producers,
11.2111.22
professional associations, 2.8
prot, 6.14
protability, 6.146.15
protability analysis, 9.16
prot center, 1.191.20
prot plan, 7.11
prot-sharing, 4.18
programmer/developer, 5.4
programs (computer), 5.3
project manager, 5.4
project team, 1.22
promotion, 9.79.8
promotion materials, 10.810.9
proposal for insurance, 12.20
prospect, 11.1311.14
prospectus, 10.9
protocols, 5.3
prudential regulation, 1.7
prudent person approach, 8.8
publicity, 9.8
public offering, 8.7
purchasing power, 9.7
www.loma.org
pure distributor model of bancassurance,

11.17, 11.18
Q
qualitative performance measurement, for
customer service, 14.19, 14.20
quality assurance analyst, 5.4
quality rate, 14.21
quantitative performance measurement, for
customer service, 14.19, 14.2014.22
R
RAA. See retained asset account option
ranking, 4.17
rate of return, 8.6
rating, 12.9
rating agencies, 1.71.8, 6.19
readability requirements, 10.9
readerboard, 5.12
real estate, 8.15, 8.16
rebating, 11.4
recognition, 7.7
recruitment
of agents, 11.911.10
of employees, 4.84.10
refund annuity, 13.20
registered investment advisor (RIA), 11.16
regulation
nancial, 6.196.21
underwriting and, 12.21, 12.22
regulators, 1.61.7
regulatory approval, for products, 10.8
regulatory bodies, 3.5
regulatory groups, industry, 3.8
regulatory risk, 6.12
reinstatement, 14.14
reinsurance, 1.8
reinsurance staff, underwriters collaboration
with, 12.18
reinsured policies, claims on, 13.1413.15
reinsurer, 1.8
reliability, 4.12
renewal commission, 11.7
replacement, 14.13
reputation risk, 6.12
request for proposal (RFP), 12.20
required rate of return, 8.4
rescission, 13.8
research committee, 1.21
responsibility, 1.9
retained asset account (RAA) option, 13.13
revenue, 6.17
RFP. See request for proposal
RIA. See registered investment advisor
risk, 6.11
risk classes, 12.3, 12.8, 12.9
risk committee, 6.13
risk-free rate of return, 8.4
Index INDEX.11
risk management, 6.116.13

risk premium, 8.4
risk-return trade-off, 8.38.4
S
SaaS. See software as a service
salaried sales representative, 11.1511.16
salary, annual, 4.18
sale-and-leaseback transaction, 8.15
sales analysis, 9.16
sales experience, 11.21
sales promotion, 9.7
sales support, 11.1111.12
Sarbanes-Oxley Act of 2002 (Sarb-Ox, SOX),
2.22.3, 6.23
SBR. See skill-based routing
SBU. See strategic business unit
scanning, 5.9
screening, 10.4
screening interview, 4.11
screen pop, 5.17
script, 14.10
seamless process, 14.7
SEC. See Securities and Exchange Commission
securities
buying and selling of, 8.68.7
distribution of, 11.1611.17
securities exchange, 8.7
Securities and Exchange Commission (SEC;
U.S.), 5.7, 6.21, 10.9, 11.17
security, 1.5
security analyst, 5.4
segmented service, 11.12
segregated account, 8.8
segregated fund, 8.8
segregation of duties, 7.2
selection of risks, 12.3
self-service options, in e-commerce, 5.16
self-study training, 4.14, 4.15
senior-level managers, 1.10
SEPA. See Single Euro Payment Area
separate account, 8.88.9
separation, 4.19
server, 5.3
server administrator, 5.4
service desk, 5.4
service fee, 11.7
service level, 14.21
service provider, 4.54.6
shared services department, 5.5
shareholder, 1.5
Singapore Society of Actuaries, 2.8
Single Euro Payment Area (SEPA), 7.13
single-variable segmentation, 9.10
situation analysis, 9.5
SIU. See special investigative unit
skill-based routing (SBR), 14.8
skills inventory, 4.74.8
smart phone, 5.18

social networking, 5.16
Society of Actuaries, 2.6, 2.8
Society of Financial Services Professionals, 2.8
software, 5.3
software as a service (SaaS), 5.13
SOH. See statement of health
solvency, 1.7, 6.14
tools for monitoring, 6.226.23
source of funds, 6.16
SOX. See Sarbanes-Oxley Act of 2002
special investigative unit (SIU), 13.15, 13.16
specialized medical questionnaire, 12.13
speed of answer, 14.21
staff function, 1.14
stafng needs, 4.44.7
stakeholders, 1.41.9
providing nancial information to, 6.1719
as users of accounting information, 7.4
standard class, 12.9
Standard and Poors Corporation, 8.12
standing committee, 1.20
statement of capital and surplus, 7.9
statement of health (SOH), 12.12
statement of owners equity, 7.9
statutory accounting practices, 7.7
steering control, 2.10, 2.12, 2.14
claims and, 13.17
customer service and, 14.19
stock, 1.5, 8.148.15, 8.16
stockholder, 1.5
stockholder dividend, 1.5
stock insurance companies, 1.5, 1.22, 1.24, 7.7
STP. See straight through processing
straight through processing (STP), 12.4
strategic alliance model of bancassurance,
11.17, 11.18
strategic business unit (SBU), 1.20
strategic planning, 1.111.12
strategy, 1.11
subaccount, 8.8
subsidiary, 1.22, 3.4
substandard class, 12.9
succession planning, 4.8
suicide exclusion, 13.913.10
suitability, 12.5
support function, 1.14
surplus, 6.18
systems activities, in product development,
10.10
systems software, 5.3
T
table rating method, 12.16
table of underwriting requirements, 12.11
tactical/action programs, 9.5
tactical planning, 1.12
tactics, 1.11
talking points, 14.10
www.loma.org
INDEX.12 Index
targeted e-mail marketing, 11.20

target examinations, 3.113.12
target market, 9.119.13
target marketing, 9.119.13
task force, 1.22
tax accounting, 7.6
technical design, for products, 10.510.7
technology
for agent support, 11.12
in customer service, 14.714.8
management of, 5.2
telecommunications, 5.135.18
telecommuting, 5.16
teleconferencing, 5.18
telemarketing, 11.20
teleunderwriting, 12.1112.12
term to maturity, 8.11
text chat, 5.14
third-country nationals, 4.5
third-party administrator (TPA), 13.6
third-party-institution distribution systems, 9.8,
11.3, 11.1611.19
360-degree feedback, 4.17
tobacco users, 12.8
Toronto Stock Exchange, 8.7
total client management, 14.8
TPA. See third-party administrator
traders, 6.7
training, 4.134.14
for customer service, 14.614.7
ethics, 2.72.8
for insurance producers, 11.1011.11
training materials, 10.8
transaction, 5.11
transaction processing system, 5.11
treasurer, 6.5
treasury operations, 6.56.6, 7.127.14
turnaround time, 14.21
twisting, 11.4
U
UK Combined Code on Corporate Governance
(United Kingdom), 2.3
underwriters, 12.3, 12.7
underwriting, 12.3
company interrelationships and, 12.1819
control mechanisms for, 12.1712.18
group, 12.1912.21
guidelines for, 12.8
jobs in, 12.7
operations for, 12.512.6
process for, 12.912.16
www.loma.org
purpose of, 12.612.9

14.5
underwriting decision, 12.3, 12.1312.15
underwriting managers, 12.7
underwriting philosophy, 12.8
underwriting supervisors, 12.7
undifferentiated marketing, 9.12
Unfair Claims Settlement Practices Act, 13.18
unfavorable variance, 7.11
unique visitors, 9.14
up-selling, 14.16
upstream holding company, 1.24
use of funds, 6.16
U.S. Treasury bonds, 8.13
V
validity, 4.12
valuation, 7.7
value-added activities, 1.16
value chain, 1.141.16
variable annuities, distribution of, 11.1611.17
variance, 2.14
variance analysis, 7.117.12
vendor, 4.54.6
vice presidents, 1.10
videoconferencing, 5.18
virtual private network (VPN), 5.14
voice response unit (VRU), 5.17
VPN. See virtual private network
VRU. See voice response unit
WX
wage, hourly, 4.18
web, the. See World Wide Web
web advertising, 11.20
web browser, 5.3
web callback, 14.8
web chat, 5.14
web collaboration, 14.8
web conferencing, 5.18
webinars, 5.18
websites, 5.3, 5.16
website trafc analysis, 9.14
Westlaw, 5.7
wholesaler, 11.16
workow systems, 5.10, 14.7
work group, 1.22
work sample test, 4.12
worksite marketing, 11.14, 11.15
work team, 14.3
World Wide Web (the web), 5.3
YZ
yield, 8.6

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Index INDEX.

Insurance Company Operations

Copyright 2012 LL Global, Inc. All rights reserved.

ALM. See asset liability management

Insurance Company Operations

automated workow distribution, 5.10

Copyright 2012 LL Global, Inc. All rights reserved.

Insurance Company Operations

Copyright 2012 LL Global, Inc. All rights reserved.

compliance department, 3.83.11

Insurance Company Operations

current ratio, 6.19

death certicate, 13.9

Copyright 2012 LL Global, Inc. All rights reserved.

Insurance Company Operations

electronic mail. See e-mail

Copyright 2012 LL Global, Inc. All rights reserved.

Insurance Company Operations

at extra premium method, 12.16

Copyright 2012 LL Global, Inc. All rights reserved.

Insurance Company Operations

internal audit, 3.10

Copyright 2012 LL Global, Inc. All rights reserved.

job skills test, 4.12

Insurance Company Operations

loss, verication of, 13.10

medical attendants report, 12.13

Copyright 2012 LL Global, Inc. All rights reserved.

Insurance Company Operations

new business, organization of, 12.512.6

performance appraisal. See performance

Insurance Company Operations

pure distributor model of bancassurance,

Insurance Company Operations

risk management, 6.116.13

smart phone, 5.18

Insurance Company Operations

targeted e-mail marketing, 11.20

purpose of, 12.612.9

Copyright 2012 LL Global, Inc. All rights reserved.

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