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CSR NOTES CHAPT 1/2
| Question | Answer |
|---|---|
| RISK | THE CHANCE OR UNCERTAINTY THAT A LOSS WILL OCCUR, CAUSING FINANCIAL BURDEN |
| PROBABLITY | ANALYZATION OF HISTORICAL DATA TO DETERMINE THE PROBABLILITY THAT AN INDIVIDUAL WILL SUFFER A LOSS AND PREPARE FOR THOSE LOSSES BY ADJUSTING THE INSURED PREMIUM ACCORDINGLY |
| 2 KEY ELEMENTS OF RISK | 1. THER OUTCOE IS INDETERMINATE OR UNCERTAIN 2. THERE IS A POSSIBILITY OF A FINANCIAL LOSS. |
| F.N.O.L. | FIRST NOTICE OF LOSS- ESTABLISHING NEW CLAIMS. (ONE TYPE OF CSR CALL) |
| INQUIRY | FOLLOW UP TO OPEN CLAIMS, UPDATING STATUS. (SECOND TYPE OF CALL) |
| P.R.U. | PAYMENT RECOVERY UNIT- WHEN SOMEONE ELSE NEEDS TO PAY EITHER FROM ANOTHER INS CO. OR PERSON. |
| VERIFY | TO ESTABLISH TRUTH ACCURACY OR REALITY |
| INVESTIGATION | TO MAKE SYSTEMATIC EXAMINATION ESP TO CONDUCT AN OFFICIAL INQUIRY |
| 3 COMPONETS TO A CLAIM | 1. COVERAGE2. LIABILITY3. DAMAGESIF COVERAGE, LIABILITY OR DAMAGES HAVE TO BE INVESTIGATED THE LOSS MUST BE ASSIGNED TO THE APPROPRIATE LEVEL OF INTEREST. (LIABILITY ASSOCIATE FOR INVESTIGATION) |
| MISSION STATEMENT OF THE CLAIMS DEPT | EFFECT A PROMT, COURTEOUS AND EQUITABLE DISPOSITION OF CLAIMS THROUGH DIRECT CUSTOMER CONTACT |
| C.I. | CUSTOMER INTERACTION |
| P.M.T | PERFORMANCE MONITERING |
| L.O.I. | LACK OF INTEREST |
| GEICO'S OPERATING PRINCIPLES | 1. RESPECT- RESPECT, SUPPORT AND PROVIDE OPPROTUNITY FOR ALL ASSOCIATES.2. SERVICE- BE FANATICS FOR OUTSTANDING CUSTOMER SERVICE.3. LOW COST- BE A LOW COST PROVIDER4. INTEGRITY- OPERATE WITH UNCOMPRIMISING INTEGRITY. |
| GEICO'S OPERATING PRINCIPLES | 5. DISCIPLINE- MAINTAIN A DISCIPLINED BALANCE SHEET.6. GROWTH- MAKE AN UNDERWRITING PROFIT WHILE ACHIEVING OPTIMUM GROWTH.7. INVEST- INTEST FOR TOTAL RETURN |
| WORKING PAUSE | THE CUSTOMER IS NOT PLACED ON HOLD BUT KEPT ON THE LINE WHILE THE CLAIM IS RESEARCHED OR INFO IS GATHERED - NO LONGER THAN 3 MINS (2 MINS IN VB)- ASK THE CUSTOMER IF IT IS OK TO PLACE THEM ON HOLD- EXPLAIN THE REASON FOR THE HOLD, THANK THEM FOR HOLDING |
| SPECULATIVE RISK (1) | CHANCE OR GAIN AS WELL AS A CHANCE FOR LOSS (GAMBLING OR STOCK MARKET) |
| PURE RISK | ONLY A CHANCE OFF LOSS NO CHANCE FOR GAIN (THE FIANCIAL LOSS SUFFERED AFTER A HOUSE FIRE) |
| PRINCIPLE OF INDEMNIFICATION | UNDERLYING CONCEPT BEHIND THE INS CONTRACT ENSURING THAT THERE IS NO CHANCE OF A GAIN |
| INDEMINIFICATION | TO MAKE RESTITUTION OR COMPENSATION TO ANOTHER PARTY FOR THAT WHICH THEY HAVE LOST. (TO MAKE WHOLE AGAIN; BACK TO THE WAY THEY WERE BEFORE THE ACCIDENT. INSURED MUST NOT PROFIT OR BE IN A WORSE FINANCIAL POSITION AFTER THE LOST- IDENTIFY DMGS ISS. PYMT |
| RISK | INDETERMINATE OUTCOME |
| INSURANCE | THE CONTRACTUAL TRANSFER OF THE RISK OF FINANCIAL BURDEN SUFFERED AFTER A LOSS FRM AN PERSON TO AN INS CO IN EXCHANGE FOR PREMIUMS PAID. SPECIFIED LOSSES IN RTN FOR PD PREMIUMS IN THE EVEN OF A COVERED LOSS THE INS CO IS CONTRACTUALLY BOUND TO INDEMNIFY |
| LINES OF INSURANCE | LIFEHEALTH AND DISABILITYPROPERTYCASUALTY |
| LIFE INS | PROTECTS THE INSURED & THERE FAMILY FROM THE FINANCIAL BURDEN ASSOC W/ THE DEATH OF THE INSURED |
| HEALTH & DISABILITY | DESIGNED TO OFFSET THE BURDEN ASSOC W/ MEDICAL BILLS & LOSS OF INCOME ASSOC W/INJ OR SICKNESS SUFFERED BY THE INSURED |
| PROPERTY INS | PROTECTS THE INSURED AGAINST DAMAGE OR DESTRUCTION TO THEIR PROPERTY RESULTING FROM A COVERED LOSS |
| CASUALTY (LIABILITY INS) | PROTECTS TEH INSURED FOR DAMAGES SUSTAINED BY OTHER PARTIES FOR WHICH THE INSURED IS LEAGALLY LIABLE. THE INS CO STANDS IN PLACE OF THE INSURED FOR CLAIMS MAID AGAINST THE INSURED- AS A RESULT OF THERE CONTRIBUTION OF NEGLIGENCE TO A COVERED LOSS |
| GEICO OFFERS | PROPERTY AND CAUSUALTY PROTECTIONMAY BE DUE TO HEALTH BUT ONLY FOR INJURY SUSTAINED AS A RESULT OF COVERED AUTO LOSS. |
| REASONS WHY PEOPLE BUY INSURANCE | 1 IT OFFERS FINANCIAL PROTECTION2. PEACE OF MIND3. THE LAW REQUIRES IT |
| PEOPLE CHOOSE DO DO BUSINESS WITH A CERTAIN INS CO BECAUSE... | 1. PRICE2. SERVICE |
| INSURANCE CONSUMERS | 1. PREFERRED RISK2. STANDARD RISK 3. NON STANDARD RISK |
| PREFERRED RISK | GOOD DRIVERS WITH LESS RISK OF EXPOSURE |
| STANDARD RISK | DRIVERS WITH AVERAGE DEGREE OF RISK EXPOSURE |
| NON STANDARD RISK | DRIVERS THAT PRESENT A GREATER RISK OF EXPOSURE |
| WE ARE IN THE BUSINESS OF TRANSFERRING OR SHARING THIS, IT IS THE DEGREE OR PECENTAGE OF CHANCE THAT A LOSS WILL OCCUR | RISK |
| A RISK THAT PRESENTS ONLY THE CHANCE OF A LOSS NO CHANCE FOR GAIN | PURE RISK |
| WHAT A TRAINEE MUST HAVE IN ORDER TO PROGRESS INTO THE NEXT PHASE OF TRAINING TRANSITION | 85% OVERALL CLASS AVERAGE & 85% FINAL |
| THE SHORT DEFINITION IS TO 'MAKE WHOLE' | INDEMNIFY |
| THIS IS ONE REASON PEOPLE BUY INS & IT ALSO PROVIDES PROTECTION FOR THE INSUREDS ASSETS THAT MAY BE EXPOSED DEPENDING ON THE SEVERITY OF EACH CLAIM | FINANCIAL PROTECTION. PEACE OF MIND AND LAW |
| A RISK THAT REPRESENTS THE POSSIBLITITY OF A GAIN | SPECULATIVE RISK |
| INSURING COMPANY FOR OUR ACTIVE DUTY MILITARY, RETIRED MILITARY & CIVIL SERVANT EMPLOYEE POLICY HOLDERS | GEICO (GE) |
| A CONTRACT HOLDING ONE PARTY TO RESTORE ANOTHER PARTY AFTER A COVERED LOSS IN RETURN FOR PAID PREMIUMS | INSURANCE |
| TO AFFECT A PROMPT, COURTEOUS & EQUITIABLE DISPOSITION OF CLAIMS THROUGH DIRECT CUSTOMER CONTACT | CLAIMS MISSION STATEMENT |
| WE ARE NOT AT LIBERTY BEING INS CLAIMS ADJUSTERS TO ADVISE A CUSTOMER ON THIS TOPIC | RECOMMEND AN ATTORNEY |
| INSURING COMPANY FOR OUR DRIVERS WITH A HIGHER LIKELIHOOD OF FILING A CLAIM; TYPICALLY YOUNGER LESS EXPERIENCED DRIVERS (NON STANDARD RISKS) | GEICO CAUSUALTY (GC) |
| THE FACE OF OUR COMPANY. THESE ASSOCIATES ARE CHARGED WITH INSPECTING VEHICLES & DETERMINING THE AMT OWED TO OUR CUSTOMERS | AD ADJUSTER (AUTO DAMAGE) |
| A REASON THAT PEOPLE BUY INS & LESSONS THE ANXIETY ASSOCIATED W/HAVING A LOSS & FILING A CLAIM | PEACE OF MIND |
| INSURING COMPANY WHERE THE MAJORITY OF THE PUBLIC WILL FALL; NOT A PERFECT DRIVING RECORD BUT ALSO NOT VERY ACTIVE (STANDARD RISKS) | GEICO INDEMNITY (GI) |
| THIS IS THE REASON THAT PEOPLE BUY INS IT ALSO REQUIRES THAT YOU HAVE FINANCIAL RESPONSIBILITY FOR DAMAGE YOU CAUSE TO ANOTHER PERSONS PROPERTY | PEACE OF MIND FINANCIAL PROTECTION AND LAW |
| THIS IS GEICO'S # 4 OPERATING PRINCIPLE WHICH FOCUSES ON THE IMPORTANCE OF BEING HONEST AND ETHICAL | INTEGRITY |
| THE DEPT THAT WILL ATTEMPT TO GET OUR POLICY HOLDERS DEDUCTIBLE BACK FROM AN AT FAULT PARTY OR THEIR INS CO. | PAYMENT RECOVERY UNIT |
| INSURING CO FOR OUR PREFERRED NON GOVT WORKERS | GEICO GENERAL (GG) |
| OUR DEPARTMENT RESPONSIBLE FOR DETECTING, DETERRING & DEFEATING FRAUD. | SPECIAL INVESTIGATIONS UNIT (SIU) |
| YOUR AUNT ADVISES YOU THAT SHE HAS BEEN INVOLVED IN AN AUTO ACCIDENT. IT IS NOT A MAJOR ACCIDENT BUT SHE HAS HAD TROUBLE REACHING HER GEICO ADJUSTER TO REACH A SETTLEMENT. SHE ASKS FOR YOUR ASSISTANCE. WHAT IS THE ACTION PROHIBITED | VIEWING YOUR AUNTS FILE |
| GEICO'S INTRANET SITE | G-NIE |
| YOU WILL BE PROMTED TO CHANGE YOUR GEICO PASSWORD EVERY | 90 DAYS |
| NAME OF THE SYSTEM USED TO TAKE YOUR GEICO QUIZZES | GEICO UNIVERSITY |
| WHO IS THE CEO OF GEICO | TONY NICELY |
| WHO IS THE CHAIRMAN OF BERSHIRE HATHAWAY | WARREN BUFFET |
| GEICO CLAIMS REPS MUST... | TAKE LOSS RPTDETERMINE LIABILITYCHECK COVERAGESSCHED APPT FOR VEH TO BE INSPECTEDESTABLISH RESERVESWORK CLAIM TO CLOSURE |
| GEICO PROMISE | HAVE RESPECT FOR CUSTOMER, BE COURTEOUS, PROMPT, EQUITABLE CLAIM HANDLING, PROVIDE INS ADVISE |
| THREE COMPONETS TO A CLAIM | 1. COVERAGE2. LIABILITY3. DAMAGE |
| WHAT ARE 3 PARTS TO CSS (CUSTOMER SERVICE SURVEY) | 1. REPORTING AND DISCUSSING DETAILS OF THE CLAIM2. INSPECTION OF DAMAGES & RENTAL VEH3. OVERALL HANDLING OF A CLAIM. |
| WHAT ARE THE 3 AREAS THE CSR IS RATED IN THE CSS | CUSTOMER INTERACTIONQUALITYSERVICE LEVEL |
| WHAT IS A NET PROMOTER | SOMEONE WHO WILL REFER FRIENDS AND FAMILY TO GEICO. SOMEONE WHO HAS RECV'D GREAT CUST SERVICE FROM GEICO AND RECOMMENDS GEICO TO OTHER CUSTOMERS |
| WORKING PAUSE | CSR PAUSES TO RESEARCH INFO WHILE CUST IS ON THE LINE W/O PUTTING THEM ON A CLOSED HOLD (NO MORE THAN 30 SECONDS) LETTING THE CLIENT KNOW YOU ARE STILL ON THE LINE WITH THEM. |
| FISH PHILOSOPHIES | 1. CHOOSE YOUR ATTITUDE2. BE THERE3. MAKE THE CUSTOMERS DAY4. PLAY |
| 5 FORBIDDEN PHRASES | 1. I DONT KNOW2. WE CAN'T DO THAT 3. WHAT YOU'LL HAVE TO DO 4. JUST A SECOND5. USING "NO" AT THE BEGINNING OF A SENTANCE |
| ACTIVE LISTENING | STRUCTURED FORM OF LISTENING & RESPONDING THAT FOCUSES FULL ATTENTION ON THE SPEAKER |
| PASSIVE LISTENING | HEARING, NOT LISTENING FOR BETTER UNDERSTANDING |
| DEFINE SERVICE LEVEL | PERCENTAGE OF CALLS ANSWERED WITHIN 20 SECONDS |
| ON GEICO.COM | PAY PREMIUMSCHECK STATUS OF CLAIMREPORT A CLAIM****CLIENT CAN'T SCHED ASSIGNMENTS TO MEET WITH ADJUSTERS*** |
| IT IS NOT OK TO GIVE INFO TO ANYONE THAT REQUESTS IT | NEED TO DO VERIFICATION MAXRIX (VM) |
| REGIONAL OFFICES AND PROFIT CENTERS | 1. FREDERICKSBURG, VA 2. WOODBURY, NY3. MACON, GA 4. SAN DIEGO, CA 5. DALLAS, TX 6. LAKELAND, FLA 7. VIRGINIA BEACH, VA 8. BUFFALO, NY 8. TUSCON, AZ AND HAWAII (PROFIT SHARING CENTERS #8) |
| REGIONAL VP | JOE THOMAS |
| ASSISTANT VP CLAIMS | MATT MITCHELL |
| LIABILITY DIRECTOR | DAVID HODGE |
| REPORT CENTER MANAGER | JOE TOMAS |
| REPORT CENTER SUPERVISOR | CHRISTINA GOODE CINDY MARKOVICH |
Created by:
rthunter7
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