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Career Guidebook for IT in Insurance

Book Description

"Career Guidebook for IT in Insurance" is a complete handbook that provides a guideline to careers in Insurance IT. The idea behind the publication is to introduce IT professionals to the career paths in this sector of the financial services industry. The chapters in the book cover the following topics: overview of the business of Insurance; business divisions of Insurance companies that utilise IT professionals; types of IT careers in Insurance; IT contract vs. permanent positions; skill needed for a career in Insurance IT; issues with types of technology used in the industry; the future of IT careers in Insurance; and much more."Career Guidebook for IT in Insurance" is an invaluable reference handbook for IT professionals. It is also useful for both undergraduate and graduate students in Information Technology - related degree programmes. This is another publication in the "Bizle Professional Series".

Table of Contents

  1. Copyright
  2. Preface
  3. 1. Overview of Insurance
    1. Introduction
    2. Definition of Insurance
    3. Principles of Insurance
    4. Insurance Business Model
      1. Underwriting and Investing
      2. Claims
    5. Reinsurance
      1. What is Reinsurance?
      2. Functions of Reinsurance
      3. Types of Reinsurers
  4. 2. Snapshot of the Main Activities of Insurance Companies
    1. Introduction
    2. Ownership of Insurance Companies
    3. Key Ratios/Terms
    4. Business People in Insurance Companies
      1. Actuaries
      2. Underwriters
      3. Brokers
      4. Loss Adjusters
      5. Risk Management
      6. Customer Operations
      7. Marketing
      8. Business Development
    5. The Insurance Production Process
      1. Pricing and Product Development
      2. Insurance Distribution Channels
      3. Investment Management
      4. Reinsurance Distribution Channels
    6. Risk Management
    7. Major Insurers and Reinsurers
  5. 3. Insurance Products
    1. Introduction
    2. Types of Insurance Product
      1. Life Insurance
      2. Property and Casualty
        1. Personal lines
        2. Commercial lines
      3. Pet
      4. Reinsurance Contracts
        1. Facultative reinsurance
        2. Treaty reinsurance
  6. 4. The Credit Crunch and the Insurance Industry
    1. Introduction
    2. A Recap of the Cause of the Recent Global Financial Crisis
      1. Securitisation and Financial Innovation
      2. The Beginning of the Crisis
      3. Writedowns and Bail-outs
    3. Impact of Credit Crisis on Insurance Firms
    4. Difference in the Impact of the Credit Crunch on Insurance and Retail Banks
  7. 5. Career Paths in Insurance IT
    1. Introduction
    2. The AIG Story and Why it Ran into Trouble
      1. How, then, did AIG Run into Trouble?
      2. How did the State get Involved?
      3. What did the Federal Reserve do?
    3. Insurance Technology Overview
    4. Career Paths in Insurance IT
      1. Chief Information Officer
      2. Team Management
        1. Typical description for a manager
        2. Ideal skillset for a manager
      3. Business Analyst
        1. Typical job description for a business analyst
        2. Ideal skillset for a business analyst
      4. Systems Analyst
        1. Typical job description for a systems analyst
        2. Ideal skillset for a systems analyst
      5. Database Administrator (DBA)
        1. Typical job description for a DBA
        2. Ideal skillset for a DBA
      6. Project Manager (PM)
        1. Typical job description for a PM
        2. Ideal skillset for a PM
      7. Test Analyst
        1. Typical job description for a test analyst
        2. Ideal skillset for a test analyst
      8. Systems Architect
        1. Typical job description for a systems architect
        2. Ideal skillset for a system architect
      9. Application Developer
        1. Typical job description for an application developer
        2. Ideal skillset for an application developer
      10. Release Manager
        1. Typical job description for a release manager
        2. Ideal skillset for a release manager
      11. Quality Assurance Manager
        1. Typical job description for a quality assurance manager
        2. Ideal skillset for a quality assurance manager
      12. Helpdesk Analyst
        1. Typical job description for a helpdesk analyst
        2. Ideal skillset for a helpdesk analyst
      13. Technical Support Analyst
        1. Typical job description for a technical support analyst
        2. Ideal skillset for a technical support analyst
      14. Web Designer/Developer
        1. Typical job description for a web designer/developer
        2. Ideal skillset for a web designer/developer
      15. IT/Information Security Analyst
        1. Typical job description for an IT/information security analyst
        2. Ideal skillset for an IT/information security analyst
    5. Contracting vs Permanent Debate
      1. Remuneration
      2. Cultural Fit
      3. Multiskilling
      4. Training
      5. Career Progression
    6. The Qualifications Debate
  8. 6. A Day in the life of Key Business Staff and how IT can Support Them
    1. Introduction
    2. A Day in the Life of
      1. An Underwriter
        1. Profile
        2. Current position
        3. Biography
        4. Skills required in the underwriting team
    3. A Claims Adjuster
      1. Profile
      2. Current position
      3. Biography
      4. Skills required to be a claims adjuster
    4. An Actuary
      1. Profile
      2. Current position
      3. Biography
      4. Key tasks
    5. How IT Professionals Support these Business Professionals
      1. Chief Information Officer (CIO)
      2. Project Manager
      3. Business Analyst
      4. Data Analyst
      5. Test Analyst
      6. Developer
      7. Database Administrator (DBA)
      8. Release Manager
  9. 7. What it Takes to be an Insurance IT Professional
    1. Introduction
    2. Writing a Winning CV (Résumé)
      1. 1. Start with the Job
      2. 2. Skills and Qualities
      3. 3. Your Strongest Selling Points
      4. 4. Hints and Tips
    3. Top Interview Tips
      1. What to do
      2. What not to do
    4. An Introduction to Filling in Application Forms
      1. Online Application Forms
      2. Paper Application Forms
      3. Some Important Final Checks
    5. Paths to a Rewarding Career
      1. Setting Coals
      2. Identifying Prospects
      3. Drilling Deep
      4. Networking
      5. Flexibility
    6. Conclusion
  10. 8. Future of IT in Insurance
    1. Introduction
    2. The Future of Insurance
      1. Life Insurance
      2. Property and Casualty
      3. Risk Management
      4. Investment
    3. How do the Above affect Careers in Insurance IT?
    4. Conclusion
  11. Appendices
    1. Useful Websites
    2. Popular Job Boards
    3. Specialist Recruitment Agencies
  12. Other Titles in the Bizle Professional Series
  13. About Essvale Corporation Limited
  14. About the Bizle Brand