1	Claim Designation Survey September 2006
2	Executive Summary SITE identified 135 claim specific titles from our membership database. 47 of the 135 (35%) completed an anonymous online claim designations survey. More than 70% of those who responded pay cash awards fro CPCU, SCLA, and AIC designations. The range of awards (some of which offer cash in lieu of a trip) was as follows: CPCU: $100 - $4,400 SCLA: $320 - $2,750 AIC: $80 - $1,750 84.1% of the companies support attendance at the CPCU conferment. Companies support other designations, especially AIM. 21.9% of the companies reported that 20% or more of their claim employees have designations. Of companies that require designations, most support AIC. Only one company reported conducting an ROI study. 74.4% of the companies recommended designations on Job responsibilities. Three companies reported that designations are required for career progression. One company has a certification program where employees are required to achieve a designation within four years.
3	SITE External Benchmarking
4	Cash Bonus Details - AIC The SITE survey asked: “If you answered Yes to cash bonus for any of the designations and if you can share this information, please indicate the designation and the cash bonus amount provided.” Of the 24 respondents who answered, the following were comments on AIC: AIC - 4200 AIC - $600 AIC - $500 AIC - $40.00 per successfully completed exam; $160 at Successful completion of completion. Books and materials at company expense. AIC - $100 cash award for completion of each course AIC - $500 salary increase for designation AIC - the cash award is $250 AIC - $700 AIC - $250 AIC - $300 AIC - $100 AIC - $50 per part, $200 for the designation AIC - $500 AIC - $100.00 for each section passed AIC - $500 AIC designation earns a $250 educational bonus AIC - Per Course passed $250. Designation an additional $750 AIC - $200
5	Cash Bonus Details - CPCU The SITE survey asked: “If you answered Yes to cash bonus for any of the designations and if you can share this information, please indicate the designation and the cash bonus amount provided.” Of the 24 respondents who answered, the following comments were on CPCU: CPCU - $1,000 CPCU - $1500 CPCU - $1,000 towards conferment CPCU - $50.00 per exam; $500.00 at designation Books and materials at company expense plus conferment expenses. CPCU - $250 cash award for completion of each course CPCU - $1500 salary increase for designation CPCU - $500 CPCU - $2,000 CPCU - $500 CPCU only - $500 completion bonus (subject to withholding) CPCU - $350 CPCU - $500 CPCU- $75 per part, $1500 for the designation, pays for the CPCU and spouse to attend selected Annual conferences. CPCU is $1000 or the conferment ceremony. CPCU - $200.00 for each section passed CPCU - $750 CPCU - $4000 CPCU - earns a $1000 educational bonus. Half is paid out when half of the required courses are completed with the balance at the conclusion. Airfare / hotel expenses are prepaid by the Agency for the participant to attend conferment. Agency also pays any annual dues. CPCU - Per Course passed $300 Designation completion an additional $2,000 or Trip for you and guest to conferment CPCU - $1500 CPCU - $1,000
6	Cash Bonus Details - SCLA The SITE survey asked: “If you answered Yes to cash bonus for any of the designations and if you can share this information, please indicate the designation and the cash bonus amount provided.” Of the 24 respondents who answered, the following comments were on SCLA: SCLA - $125 for first 3 programs and $625 for 4th SCLA - $1,000 SCLA - $500 SCLA - $400 SCLA - $500 SCLA- $50 per part. SCLA - $1000 1st AEI, Associate designation - $200 For each AEI, Associate designation thereafter, - $100 each SCLA - $100.00 for each section passed SCLA - $2000 SCLA - $500 per part and an additional $750 upon completion of SCLA designation SCLA - $1,000
7	Cash Bonus Details - I-CAR
8	Cash Bonus Details - Comments The SITE survey asked: “If you answered Yes to cash bonus for any of the designations and if you can share this information, please indicate the designation and the cash bonus amount provided.” Of the 24 respondents the following were additional comments: Any insurance designation received entitles an employee to a $60 gift certificate to the restaurant of choice and a $40 gift certificate to a cultural event at a local theatre of the performing arts. Normally 50 - 75 per class and 150 for completion. Each employee who passes an exam is given $20 in script that can be used in our community. The amount is very small for the effort that is required to pass the exams. Designations are required for career advancement, but salary increases are not automatic as a result of conferment. $50.00 per completed course, i.e. if 3 courses are required for designation, $150.00 but no payment until all 3 are successfully completed. The only designation that we provide an award for is CPCU. Our program offers either $1000 bonus or conferment including spouse. Other than AIC - $400
9	SITE External Benchmarking Other designations* commonly earned by claim personnel that organizations award: Associate In Insurance Services (AIS) Associate in Management (AIM) Casualty Claims Law Associate (CCLA) Certified Insurance Counselor (CIC) Certified Insurance Fraud Investigator (CIFI) Certified Insurance Services Representative (CISR) Certified Fraud Examiners (CFE) Certified Subrogation Recovery Professional (CSRP) Fraud Claims Law Associate (FCLA) Property Claim Law Associate (PCLA) Workers Compensation Professional (WCP)
10	SITE External Benchmarking % of claims employees with one or more designations? 0% to 2.0% = 11.6% 2.1% to 5% = 9.3% 5.1% to 7.5% = 14.0% 7.6% to 10% = 18.6% 10.1% to 15% = 4.7% 15.1% to 20% = 0.0% Do not know = 25.6%
11	SITE External Benchmarking Which of the following are required designations: AIC = 64.3% (9 companies) CPCU = 0.0% SCLA = 14.3% (2 companies) I-CAR= 21.4% (3 companies) Other = 35.7% (14 companies)
12	SITE External Benchmarking Have you conducted any ROI study/studies on designation programs? Yes = 2.4% (1 company) Are designations recommended to employees based on Job responsibilities? Yes = 74.4% (32 companies)
13	SITE External Benchmarking General Comments: “We have Claims Adjusters I,II, and III. A ‘I’ should start AIC as one condition for promotion to a ‘II’. A ‘II’ must attain AIC designation as one condition for promotion to ‘III’. Material Damage Adjusters are encouraged to take I-CAR .” “Employees receive a $100.00 raise for each class they pass. There is no cash bonus for completing a program. Most of our claims employees work towards the AIC because it is one of the requirements for promotion to Senior Adjuster.” “We have an Insurance Certification Program in place whereby every insurance employee was required to achieve a designation from their area of expertise within 4 years - We now have a 83% compliance rate (meaning 75% of all claims professionals currently employed have at least one insurance industry recognized claims designation - most are AIC or SCLA).” “At this point, we reimburse costs associated with designations (exam fees, books), but do little to encourage attaining designations.”