Once upon a time, the insurance industry made significant ongoing commitments to the development of its own Loss Control professionals. In fact, insurers promoted their strengths and competed against each other by touting the distinctions of their high-caliber Loss Control professionals. That competitive approach is far less prominent today, as many insurers have felt compelled to cut back on their Loss Control staff. Over the last decade, many companies have closed down their in-house development programs and drastically reduced professional staff in this area. A number of the insurers whose acclaimed Loss Control training facilities routinely produced the best of the best in Loss Control, shut down their training facilities in response to pressures to reduce operating costs.
The need for independent Loss Control professionals is all the greater today because of this industry-wide phenomenon. Having qualified “eyes and ears in the field” remains a vital competitive advantage to an insurer. As a result, many leading carriers have chosen to subcontract that function to established, highly experienced Loss Control providers, like Alexander & Schmidt, that are able to consistently provide a high-quality, responsive, national presence. The insurers’ need for this talent has continued to increase, in order to effectively support profitable underwriting, while their ability to fund the development and support of their own in-house talent wanes.
Where there is change in the marketplace, there is opportunity. Today’s Loss Control professionals are often developed and employed or contracted through specialized Loss Control service providers featuring high standards of quality assurance, technology-based report development and sophisticated operations management to meet the volume and customization needs of insurance companies. Global, national and regional insurers, as well as brokers, program managers and large agencies, now routinely outsource or augment their Loss Control talent and services through such providers.
To meet the growing demand for highly trained and well-qualified Loss Control Field Representatives, the Insurer’s Loss Control Institute (ILCI) was launched in 2002. An independent educational institute, initiated through the efforts of Alexander & Schmidt, ILCI has graduated numerous professionals who have gone on to start their own LLCs, doing risk assessment work in the industry as independent contractors, or to become employees of insurance companies or third-party Loss Control providers.
“It’s a good livelihood and a rewarding experience,” says Jim Schmidt, president of Alexander & Schmidt. “So many of our most talented Loss Control professionals have received a certification from the Insurer’s Loss Control Institute. We rely on the Institute to be a source of well-trained professionals, and as an ongoing resource for our staff,” he said.
The Insurer’s Loss Control Institute offers industry best practice training in Loss Control services for the insurance industry, as well as for those wishing to become independent service providers or field representatives.
The Institute’s “Fundamentals of Loss Control Inspection and Reporting” course introduces the key principles of Loss Control inspection and reporting through a combination of case studies, presentations, printed materials, and lectures that familiarize each student with the concepts of Property & Casualty insurance coverage.
The course provides a structured approach to developing skills required to pursue a career in Loss Control. Course materials are also highly relevant to insurance agents, underwriters, current Loss Control professionals, risk managers, field inspectors, and others interested in pursuing this field of study.
Designed to be time- and expense-sensitive, the ILCI program is a rigorous 50-hour course schedule consisting of a blended online and field practicum approach:
- A weekly, on-line session, including live group discussions
- Self-study readings
- Eleven, self-paced Learning Management System (LMS) training modules
- Case studies
- Two full days of hands-on practice in the field with the instructor
The course schedule encompasses a 7-week period, with coursework averaging 5-6 hours per week over the first 6 weeks of the program, during which the student is given access to the instructor by e-mail and phone. The coursework is followed by a full, two-day, field practicum learning experience with the instructor and other students in the 7th week.
The ILCI programs consists of:
- The fundamentals of Loss Control assessment
- Understanding complex risk assessment criteria
- Effective interviewing techniques
- Sound, in-depth decision making
- Effective technical and business writing
- Essentials of customer service
Tentative 2015 course dates include:
- Jan 11 – Feb 24 & 25
- March 30 – May 12 & 13
- June 1 – July 14 & 15
- Sept 14 – Oct 27 & 28
CEUs and College Credits
Four Continuing Education Units (CEUs) are awarded to Insurance industry professionals who successfully complete the ILCI course. For those interested in college course credits, three credits may also be obtained from Husson University by completing the ILCI program. Husson University is accredited by the New England Association of Schools and Colleges, Inc., through its Commission on Institutions of Higher Education. Please contact ILCI for more information about CEUs and college credits.
If you have any questions, you may contact ILCI toll-free at 877 846-7903, or by email at firstname.lastname@example.org.