IIA publishes new personal insurance management text

The Insurance Institute of America (IIA) has published a new book called Personal Insurance: Portfolio Management to replace the text's previous three-ring binder format used in the Associate in Personal Insurance program's API 29 course.

API 29 is one of four courses and national examinations leading to the API designation awarded by IIA.

With five new chapters, Personal Insurance: Portfolio Management approaches personal insurance as a major product line, the company said in a press release. These new chapters include Developing Personal Lines Insurance Products, Underwriting Profitability for Personal Insurance, Pricing Personal Insurance Products, Reunderwriting Personal Insurance Products, and Gaining Efficiencies in Personal Insurance Operations.

According to IIAA, the API 29 course offers a broad perspective of the personal insurance environment, covering factors that influence products, characteristics of the market, and competition within the personal insurance market.

Co-author Cheryl Ferguson, CPCU, API, and senior director of curriculum for IIA said, "Many insurance companies have shifted the emphasis in personal lines insurance from individual application or account underwriting to management of an entire portfolio of insurance policies…this text addresses the product changes, goals, pricing strategies, reunderwriting, and underwriting expense control required of a portfolio manager."

The 265-page soft cover book can be ordered from IIA by calling 800-644-2101, faxing 610-640-9576, emailing cserv@cpcuiia.org, or visiting their website at www.aicpcu.org.

The four courses in the API program are INS 21-Property and Liability
Insurance Principles; INS 22-Personal Insurance; API 28-Personal Insurance:
Underwriting and Marketing Practices; and API 29-Personal Insurance:
Portfolio Management and Issues.

With contribution from Katie Murray
Assistant Editor, Property and Casualty
Source: American Institute for CPCU/Insurance Institute of America