The Institutes Introduce New Professional Risk Consultant Designation
New Designation Helps Train Commercial Producers With Up to Three Years of Experience in the Risk Management and Insurance Industry
MALVERN, Pa. - The Institutes, the leading education provider for the risk management and property-casualty insurance industry, have released a new designation program, Professional Risk Consultant™ (PRC). Designed for producers with up to three years of experience in the insurance industry, the PRC program provides a comprehensive foundation of risk management and insurance concepts to improve client interactions.
The practical, application-based study materials are delivered all online and teach new producers how to understand prospect challenges, consult effectively with clients, and build their confidence and credibility in the marketplace. This not only helps organizations create top-performing producers sooner, but also it increases employee retention and enhances customer satisfaction.
Investing in the professional development of new producers can help organizations overcome industry challenges such as increasing competition, new risks and shifting customer needs. In fact, the success rates of producers hired from outside the industry who receive no technical training or rely solely on internal training resources are 67 percent and 47 percent lower, respectively, than those of producers who receive external training, according to research from Reagan Consulting.
“Emerging risks and shifting customer expectations are transforming our industry, and insurance organizations need producers with a solid understanding of the evolving risk management field,” said Peter L. Miller, CPCU, president and chief executive officer of The Institutes. “Our new PRC designation gives producers the relevant, industry-specific knowledge to act as true risk consultants to both their organizations and their clients.”
The PRC designation can be completed in as little as six to nine months and consists of two core courses: Risk Consulting With Confidence and Trending Topics for Producers. The first course focuses on translating a deeper understanding of risk management and insurance concepts into actionable knowledge that can be readily applied on the job. The second is based on an innovative, article-driven curriculum that ensures that the most up-to-date topics are covered.
In addition, students pursuing the PRC designation must also complete an ethics course and two of the following elective courses, giving them an opportunity to focus on an interest area of their choice:
- Cyber Risk Fundamentals
- Surplus Lines Fundamentals
- International Insurance Fundamentals
- Captive Insurance Fundamentals
“To grow and excel in their careers, today’s producers must have a deep understanding of risk and stay on top of emerging issues and trends for an enhanced consultative approach to helping clients,” said Sharon Gilpin, vice president of products at The Institutes. “Earning the PRC designation is a great way for new producers to enhance their value as many of today’s top producers retire.”
The Institutes content, developed by trusted industry experts, is unbiased risk and insurance knowledge and designed to meet specific insurance education needs.
For further details on The Institutes’ PRC designation program, please visit TheInstitutes.org/PRC.