General Insurance Careers (1971)

Heat. [Music] [Applause] [Music] Heat. [Music] Heat. [Music] [Music] The insurance business is really one that's so vitally interested in the people that work in it. It can't function without the proper people. Nothing moves without the proper people. We're concerned about this. We worry about it. And those of us that work in it think about it all the time because where did we come from? How did we get here? But strangely enough, a lot of us drift into insurance. We drift in through very many reasons and some of us drift right back out again. But by and large, we stay. We become fascinated because really in this day and age, nothing moves without insurance. You wouldn't drive your car without it. You couldn't get a mortgage on your home without it. I don't think you'd even buy an engagement ring without it. So, everything needs insurance. Oh, great. I got to hang up because Ross is coming in. Okay. Bye-bye. >> Yes, sir. May I help you? >> Good afternoon. My name is Ross Kishian. I have an an appointment with Mr. Peter Roberts. Yes, sir. You have a seat for a moment and I'll ring you. >> Thank you. [Music] >> Good afternoon, Mr. Roberts. My name is Mr. Kation. I have an appointment with you in regards to insurance. Yes. >> How do you do? Excuse my appearance, would you? >> Oh, that's fine. The office and I'll share it. Certainly. >> Okay. >> Have a seat. >> Fine. >> The reason why I had sent a letter to you in regards to your insurance was I wanted to discuss uh different types of general insurance with you. >> The insurance agent of today is a highly skilled professional who knows protection >> who knows needs. >> He runs an efficient organization or he won't survive. premises or products. >> You pay for protection and it's his job to see that that protection applies. >> Uh what type of products do you make? >> Uh I have a catalog here which describes the items that we make. >> We manufacture basically automotive racing accessories, suspension parts, wheels, headers. Our products liability coverage uh covers you in the event of an accident uh for defective parts caused by your parts being in the car. Um do you mind if I took this with me then and we'll take it to our underwriting department. We'll have the underwriters and myself will go over it and we'll be back to you in a week to 10 days with a with a quote on the insurance. >> Be fine. >> Underwriting. Well, hi George. How are you? Good. 23 building. Yes. Where is it located? >> West Hill. Uh, is there any fire protection? >> I've been working in the underwriting department as a clerk for the past 3 weeks. Although I do not plan to remain as a clerk where I'm now taking night classes in automobile and fire insurance along with the basis of sure of the insurance business and this with my work here in the office I hope will enable me to become an underwriter. >> Well George I I can't give you an answer on this. I'll have to check this out. Can I call you back? Thank you. Bye. [Music] The underwriter's job is to assess a risk, its impact on the company, the ability of the company to absorb a loss. >> Every underwriter has to look at every offering as if it was going to be totally destroyed the next day. >> He has to try to assess the correct premium charge for that risk and he has to assess what forms of protection the company can afford to provide because quite naturally a company cannot provide for every risk. Even though one of the earliest orders in the insurance business is to protect me for everything, quote unquote. >> What's the problem you have, Brian? >> The agent George. >> Oh, yeah. >> He's writing. He wants to know if we would accept a two family dwelling. It's been converted in 1934. If we would accept it at standard rates. >> It was converted in 1934. >> 1934. Yes. >> Has he had any prior insurance on it? >> Uh, no, you didn't. >> You didn't? This is the first time they want to insure it. >> Yeah. Uh, has he seen the dwelling? >> Uh, no. I don't think he has. No, >> he hasn't. E. Uh, well, it might not meet our requirements right now. >> Uh, I guess you don't know anything about the construction. >> Well, it's a it's a brick veneer building. >> Tell the agent not to bind us until we have the inspection through. Okay. >> Yeah. I think the best idea here would be to get an inspection. Right. >> What about an electrical and heating? Would you like one of those? >> Yeah, we should get one of them. Special attention to that. >> Okay. Okay. >> I think Petersons would be the best company to handle. >> Oh, yes, they are. >> Thank you. >> Okay. >> Peterson, you say? >> Yeah, Peterson. >> Customer service. Mrs. B speaking. >> Yes, Mrs. Urban. And can I have the policy number, please? And you wish to add the cottage for 5,000. Is it? And the contents coverage? 2,000? Yes. And do you have any other uh equipment kept up at the cottage? >> The high school graduate is interviewed in the personnel department and judged on his or her own merits, on appearance, on intelligence, on marks, and mostly on interest. He would then be brought into the company ranks and trained in the most basic of functions such as our filing systems or the wordings on personal insurance policies. [Music] He would be required to serve an apprenticeship until someone in a senior capacity decided that he was ready for more responsibilities. Most companies now insist on exposure to insurance institute courses. Most companies encourage people in many ways to take these courses with bonus systems, by paying for the cost of the courses, and by giving time off to attend lectures and sit for examinations. There is no better background for a junior than the insurance institute. >> Good morning, Gary. >> Oh, good morning, Elizabeth. A problem, I bet. >> Yes, Gary. We've had an NSF check come back on this file and we're going to have to call for the full premium. It's $5,000 and I thought you better know about it. >> Yeah, I better have a look at the file. $5,000. >> Yeah, they'll probably have difficulty making the arrangements within the 10 days that we allow. >> Oh, this is one of our better agents in that area, too. And and I can see by this and the premium that this is one of his bigger accounts. >> Yeah. Um, I'm going down there next week with the inspector. >> Are you? Good. >> So, I'll take this up with him. >> Oh, good. If you're going to be talking to the agent, uh, you might suggest bank financing to him. >> Good idea. That's a very good idea. >> Let's keep the business, >> right? >> Even if we can't finance it. >> That's what I'll do. I'll give you a report when I come back from the trip. Uh, you better leave the file with me then. Okay. >> All right. Fine. Thank you, Carrie. >> Well, that's just one more. Thanks, Liz. John, regarding the Smith Dennis account, the buildings involved, are they mainly fireresistive? >> Yes, there are a few non-standard fireresistant buildings included. >> Uh-huh. I take it you're using an average rate. >> We are. It's basically the CUA rate. >> The insurance broker is a representative of the insurance buying public. Legally, he has no responsibility to the companies that he sells the business to, but in actual fact, he has a great deal of respect for the insurance market and knows the market conditions thoroughly >> years and all information on all the buildings. Jenny, could you bring in those two plans for locations 14 and 16? Now, as you'll notice, there is now a $10,000 deductible on the >> He's usually a highly trained individual who knows the commercial insurance market. >> Generally, a graduate of company ranks and generally employed by a large commercial firm. >> Are you carrying a loss? >> He makes his living with the professional corporate insurance buyer. Perhaps the toughest customer of them all. However, we are >> he brushes with fields such as risk management with a professional risk risk engineer >> and he handles policies as complex as overseas shipments of car manufacturers to things as simple >> as the corporate president's stamp collection >> sixtory building. Yes. >> And there is an addition which is sprinklered non-standard fire resistive. Uh there's good cut offs and uh oh about 30% is fire resistive construction. The remaining port here portion is not uh not on the schedule. >> Well no this is actually brick joist >> to get to a position in a brokerage firm is really a fairly long procedure >> provide an entire >> they sell and produce their own product in that the training involved is complex and therefore they usually of necessity recruit from company ranks. >> Right. This is a 19. >> They tend to pay a slightly higher than average scale, but they do expect a very large return for a dollar investment. >> Number 17. >> In this day and age, nobody gives money to anybody for anything but hard work. >> I'd like you to go out as soon as possible to have a look at this. Do you think this is possible in the near future? >> It's out in the West End and I'll be out there tomorrow morning. So, I'll I'll do it at the >> do this one after I do my other one. I have one quite a way out really. So, >> well, if you could >> as long as it's tomorrow, that's all you're you're uh worrying about. >> Well, that would be tremendous because this is the only one that we don't have full information on. And I think that will complete your files. >> The insurance field man is probably the most highly trained product of the company's training scheme. >> Good morning. >> My card. Your agent Tom Jones phoned into the office requesting that someone come out and do a physical inspection of your property for fire and burglary. >> Yes. Mr. Jones mentioned that you were coming. >> I see. Um, could we start in the uh the basement? >> Well, we don't have a basement in this store. >> Oh, maybe we'll go to the back room and I'll work forward then. >> Okay, fine. >> Do you have a doorway or or an opening of >> Oh, yes. I'm sorry. It's right here. >> Keep it well concealed. >> Yes. >> Thanks very much. A field representative comes in many disguises and with many titles. Some companies call him a fieldman. Some companies call him a field representative. The British companies call him an inspector and the American companies call him a special agent. The job is very attractive for a young man because it entails travel. It entails expenses. It entails the use of a company car. >> Excuse me. Is everything all right, Mr. Daly? >> Fine. Thank you. >> Bye. >> But the job entails quite a great deal more than pure sales. It involves usually physical risk inspection because the fieldman in fact becomes the eyes and ears of the underwriter on the spot. He verifies rates on buildings, does physical inspections for building safety and fire and burglary hazards. He checks desiraability of location and he actually in fact solicits the business from the agent and that he encourages the agent to place that business with his particular company. [Music] Now you'll notice that uh this vehicle we just have to stand back and uh look at it and we can say that it is a apparent total loss. The uh possibility of attempting of repairing this car and still staying within the value of the vehicle is impossible. So we would write it off. Now you notice the very severe impact at the right side of the uh the vehicle has caused the frame to buckle. The sills are just about non-existent. >> The young man or woman wishing to become an adjuster should serve a brief time learning just what an insurance policy is and just what an insurance policy is intended to do. It's this intended to do that's so very important to the attitude of the future claims adjuster. >> But this impact has rolled causing the roof to collapse. >> Claims department. May I help you? >> You had a fire a where both did it happen? >> I see. And was it a building or a house or just what? I see >> students coming into the insurance business with the hope of entering a claims career must first understand the claims man must interpret policies as drafted by the underwriter. So a background in underwriting is probably essential. >> This one this is that file you're handling up in Barc. You know the one where the third party was on the wrong side of the road. >> Oh yeah. Yeah. >> It's got pictures back from the prince. >> Mhm. H and look at the damage on our side. You better >> I'm a claim examiner and briefly my job is to determine liability in terms of the Highway Traffic Act. Let's set up a hypothetical situation. An accident is phoned into our office. Okay. And from the initial report, it appears that the other party is at fault. If our insured has collision insurance, I would advise the insurance adjuster to go out and appraise the damage done to our insured vehicle and settle with our insured. When this is done, I will be in contact with all the company who insured all the person's vehicle in terms of us being reimbured for the money that we outlaid. It's one of the few occupations where an apprenticeship is so very well rewarded with the satisfaction of doing a good and complex job. I would imagine the most spectacular being the outside claims investigators who literally comb through burning rubble. There are also the men who go and investigate accidents of all descriptions. Here we have individuals that literally become our private investigators and look into claims of all types. Claims that involve whiplash injuries that aren't quite what they're purported to be. This occurs. After all, we are handling the public's money. We're responsible for his distribution. We look for people with imagination. We really look for someone with interest. If we attract someone who shows an interest in our business, we see that that interest is encouraged and developed. In fact, it's cherished almost. Where is it going to go in the future? We like to think up. [Music] [Applause] [Music] [Music]