P&C Financial Planning and Analysis
This course introduces, defines, and discusses the financial planning and forecasting process. Participants will review a generic financial planning and forecasting model and learn basic concepts of planning and forecasting premiums, losses, and expenses based on an understanding of the key drivers of each. A template of the model will be provided.
After completion of this seminar you will be able to:
- Identify the key components and steps in the financial planning and analysis process
- List the components and drivers of written and earned premium, losses incurred, and expenses
- Develop a premium plan and forecast using policy counts and the average premium
- Develop a losses-incurred plan and forecast using claim counts and average claim amounts
- Develop an expense plan and forecast using fixed and variable expenses and departmental expenses by type
- Identify key financial planning process considerations and use these to develop or improve a financial planning process
- Recognize organizational considerations that may impact the effectiveness of the financial planning process
What Attendees Have Said:
"Seth did an excellent job applying the concepts to real-world applications and layering each of the topics to build an Income Statement model." R.B. 6/21/2018
"Seth is very insightful and a great instructor. As an employee relatively new to the insurance industry, I appreciated the level of detail and explanations delivered in this course." E.R. 8/8/17
Who Should Attend: Individuals responsible for accounting, reporting, and analysis of monthly results; financial analysts within operational business areas such as marketing, claims, and operations; also management level positions seeking to introduce or improve the existing financial reporting, planning, forecasting, and analysis process.
Prerequisites and Advance Preparation: This seminar will be presented assuming a basic understanding of the P&C business and its financial reporting. We suggest those who need this knowledge attend the one-day Overview of Statutory Financial Reporting seminar or, for a more thorough discussion, the Accounting and Financial Reporting seminar. No advance preparation is required.
NASBA Publication/Revision Date: February 2021
Delivery Method and Program Level: Group internet-based intermediate webinar.
Estimated CPE Credit: 12 hours Accounting
Important Information About CPE for Multi-Day Webinars: CPE will be awarded separately for each webinar day attended. Daily CPE will be either full credit if the attendee responds to 75% or more of the CPE certification questions during each session, or no CPE credit if the attendee responds to less than 75% of the CPE certification questions per session. The total CPE hours awarded for the multi-day webinar, as shown on the CPE certificate, will be an accumulation of CPE per day.
Printed Course Materials: Tuition includes digital course materials. If you wish to have printed course materials, there is an additional per person charge (includes shipping). Select the Printed course materials option below; you will receive an email requesting a shipping address. Please allow at least five business days after sending your shipping address to receive the materials.
Special Offers:
- Register for this webinar and receive a voucher code for $600 off another over 7 CPE hours (excludes 7-hour Update on Accounting and Reporting)
- Group discount of $300 per attendee for the third and subsequent attendees registering for this webinar
- Current software clients receive a $100 discount with voucher code
- Only one discount code may be used per purchase
About Webinars:
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- We request that each person attending a webinar be registered regardless of CPE needs.
- Mobile devices or tablets cannot be used if requesting CPE since the CPE tracking program will not work with these devices.
- Registration closes 2 hours before the webinar start time.
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