Saiprasad Bachewar

What are the main work and responsibilities of a Insurance Officer?

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by Saiprasad Bachewar
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RE: What are the main work and responsibilities of a Insurance Officer?

Preeti Taneja
Preeti Taneja
Verified Career Expert
Head Guidance & Counselling at Project Wisdom, CSR initiative of Canam Consultants Limited, Chandigarh
  • Chandigarh

Insurance officers are responsible for carruing out clerical and other functions assisociated with insurance polices. There are mainly two types of insurance i.e. life insurance and general insurance.The work of insurance officer can be understood under following headings:-
Claims Officer
A claims officer arranges settlement of claims made by clients against their policies. They assess the validity of claims by interviewing clients or their representatives and obtaining evidence.
Insurance Surveyor
An insurance surveyor inspects all kinds of properties to check for hazards and the efficiency of protection devices, advises policy holders about risk improvement and provides inspection services to agents. They also prepare reports that influence insurers' decisions on risk acceptance and premiums. Insurance surveyors normally have an engineering, scientific or related qualification.
Investment Officer
An investment officer invests revenue from clients' premiums in government, commercial and stock market operations on behalf of their company and assists in the financial management of properties owned by the company.
Life Insurance Assessor
A life insurance assessor assesses death, disability, illness and trauma claims on life and health insurance policies.
Loss Assessor/Adjuster
A loss assessor/adjuster investigates and assesses losses for individuals and companies.
Marine Underwriter
A marine underwriter is responsible for the acceptance or rejection of insurance proposals to cover cargo transported by ships, trucks, trains or aircraft.
Superannuation Fund Administrator
A superannuation fund administrator is responsible for the administration of employer/industry-based superannuation funds. This involves the day-to-day processing of new members, benefit payments and contributions and the annual review of each plan to update member information and benefits.
Underwriter
An underwriter assesses risks and the premiums that should be charged in particular circumstances.

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