Why is the CPCU designation important to claim professionals?This question is best answered by the claim professionals who haveachieved the CPCU designation and are active members in the CPCUSociety. The American Institute for CPCU has granted more than65,000 CPCU designations, with most recipients becoming members ofthe CPCU Society. Since 2000, 30 percent of the new CPCU designeeshave declared that they are in a claims capacity with theiremployer. They serve in a range of positions, from adjusters tosenior management.

In a survey of 38 of these claim professionals, all cited one ormore of the following general categories as the designation's mostimportant factor to them personally:

? Educational value, both in attaining the designation and incareer continuing education offered by the Society.

? Networking with other claim professionals and non-claimprofessionals.

? Help with their careers, either by attaining employment ormoving to a better position.

? Providing instant credibility among other insuranceprofessionals who share a high standard of ethical behavior andintegrity.

The Education

The one overwhelming reason cited is the superior educationreceived in both the designation process and the continuingeducation as an active member of the CPCU Society. Members of theCPCU Society view the program for achieving the designation as anintense learning process, whether attending formal classes orengaging in home study. There are those who believe the educationhelped them overcome the lack of a college degree. In one case, amember felt the designation helped him achieve his masters degreefrom a major university. For his CPCU coursework he received creditfor one-third of the semester hours needed for the degree. Thatindividual is now in a management position at a large independentadjusting firm.

Other survey respondents cited the value of the knowledge theygained about the rest of the insurance industry. They learned aboutinsurance operations from sales to underwriting, company finance toauditing, and more. Most importantly, they learned about themanagement of a carrier — from a small mutual to a major stockcompany. Respondents also gleaned insights about the business ofbrokers and agents and how they interact with carriers in both theselling of policies and in representing their clients during theclaim process.

Many adjusters indicated that they have a broader understandingof the property and casualty insurance industry, in turn makingthem a more valuable commodity within the industry. When attendingmeetings with multiple disciplines represented, their credibilityis clearly enhanced because of the designation. As one adjusterstated, “It took me out of the silo of my claim operation andshowed me how my piece fit in with the overall operation of theinsurance industry.” Others indicated they received greater insightas to interactions within the entire company. As a result, theyexperienced a sense of broadened credibility and confidence whenmeeting with senior management.

In addition to the educational value of the coursework leadingto the CPCU designation, there are various continuing educationopportunities. The CPCU Society produces its annual meeting andseminars, rotating between eastern and western locations, and italso offers an annual Leadership Summit. These two venues providevarious state approved continuing education (CE) credits that allowits members to meet the total education requirements for bothlicensing and the maintenance of those licensures. In addition, theLeadership Summit provides courses to prepare claim professionalsfor supervisory roles, including an array of management positions.Further, the Annual Meeting and Leadership Summit represent only afraction of the total educational opportunities made available toclaim professionals by the Society. It should be noted that theCPCU Society, its interest groups, and chapters across the countryoffer a multitude of seminars, symposiums, and webinars.

Of those responding to this survey, 100 percent felt theeducational value of achieving the designation — as well as thecontinuing education after becoming a member of the Society — were,by far, the most important benefit of the CPCU designation.Institute surveys of all members reveal 83 percent of thosecompleting their CPCU believe that earning the designation helpedthem prepare for their current job responsibilities, whereas 92percent felt it helped them plan for their long-term goals.

The Networking

During the early 1980s, claim professionals within the Societycreated the Claims Section, which was later renamed the ClaimsInterest Group. It is operated by claim professionals across thecountry. They create one or more of the Annual Meeting seminars aswell as other programs at local chapters and in regional areas.This allows them to work with claim professionals of other carriersand share their expertise. Consequently, these members become moreengaged in developing contributions to the industry while alsobenefiting from the opportunity to develop their leadershipskills.

The Claims Interest Group also publishes a quarterly newsletterin which the bulk of the articles are produced by the group'smembers. This allows the members to share their expertise andenhance their professional reputations among peers. They interactwith one another to solve problems that arise in the claim arena ona regular basis. This interaction develops relationships that canbe invaluable when positions become available or layoffs occur.

Careers and Employment

Many claim professionals believe the CPCU designation is acritical foundation on which to build a career. Members who haveobtained the designation are typically not satisfied with mundanework. They are characteristically willing to accept the challengesof more complex cases.

One claim manager reports that his company views the CPCUdesignation as a “graduate degree in insurance.” This exemplifiesthe notion that the individual views insurance as a profession, notjust a job. A current vice president reported that his companyvalues the CPCU designation to the extent that it is a significantconsideration in hiring and promoting. This was not an isolatedresponse. Another member stated, “I just got my current job and wastold that the CPCU designation was the deciding factor to thecompany,” while yet another revealed that in changing jobs, theCPCU designation helped him stand out from other applicants.

Of those responding to the survey, 60 percent felt that the CPCUdesignation helped further their careers or that it was directlyrelated to their current employment. An American Institute surveyof all members indicated 72 percent of CPCU completers received apromotion within two years of receiving the designation, and 92percent say earning the designation helped them prepare for theirlong-term career goals.

Credibility, Integrity, Ethics

Adherence to unimpeachable levels of credibility, integrity, andethics faithfully describes members of the CPCU Society.Consequently, the CPCU designation provides virtually instantcredibility and engenders an outstanding first impression, which isclearly a head start in any professional relationship. The letters“CPCU” hold a mystique that other designations cannot match.

The designation promotes self esteem among its recipients whenthey attend meetings and while interacting with other industrydisciplines. Many adjusters report an enormous degree of respectfrom members of other disciplines when they meet with an adjusterwith the CPCU designation. When one can talk the talk aboutreinsurance, marketing, underwriting, and accounting, then othersinvolved have instant respect for the adjuster's input. They allare aware that the designation represents broad and objectiveknowledge of the industry as a whole. Institute surveys of allmembers indicate 97 percent say it was important as a means to gainprofessional recognition.

Another benefit is that claim professionals with the CPCUdesignation are often called upon to testify in legal proceedings.Whether as an expert or incipient witness, while testifying in adeposition or trial or just being part of a mediation process, onewho has the designation is immediately recognized. Attorneyshighlight the designation when establishing the individual as anexpert in the field.

The CPCU designation is the most widely recognized, valued, andhighly respected professional designation in the property andcasualty insurance industry. This explains why claim professionalsunderstand the importance in attaining the designation and becomingactive members of the CPCU Society. In doing so, professionals willbuild upon a critical foundation to not only shape a career butalso control their own destinies to some extent.