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Who’s Who in the Industry?
A major storm hits the city. Sarah’s bakery suffers roof damage, water leakage, and equipment loss. Sarah has heard lots of insurance job titles thrown around: policyholder, agent, broker, adjuster, underwriter, actuary-- who are all these people? In this preview of the PACE program's core on-boarding course, we'll explore the basics of the different roles in the insurance industry. Notable Timestamps [ 00:00 ] - The episode opens with a storm-damage scenario at Sara’s bakery, setting up a practical lens for understanding insurance roles and how multiple professionals intersect during a single claim event. [ 00:59 ] - The lighthearted “Dec Page” segment underscores how real-world disruptions—like severe Midwest storms affecting travel—mirror the unpredictability that drives many insurance claims. [ 04:42 ] - The PACE program is practical and scenario-driven, aiming to demystify industry jargon and help both newcomers and experienced professionals apply concepts across claims and underwriting contexts. [ 06:25 ] - The "insurer" is the insurance company, while the "insured" is the policyholder. [ 08:02 ] - Insurance roles are tied to broader processes, including application, underwriting, claims handling, and premium rating, reinforcing that each role fits into a larger operational lifecycle. [ 10:11 ] - Agents typically represent the insurer (sometimes as captive or independent), while brokers represent the policyholder, helping match complex risks with appropriate carriers. [ 12:13 ] - Agents and brokers often remain involved beyond policy purchase, serving as trusted first contacts when a loss occurs and guiding policyholders through the claims process. [ 14:08 ] - Adjusters and claims professionals evaluate damage, determine coverage, and help restore policyholders, while TPAs and independent adjusters may be hired to handle claims on behalf of insurers. [ 16:46 ] - Because titles vary widely, professionals are encouraged to clearly introduce their role to policyholders, improving understanding and trust during what can be a confusing claims experience. [ 18:15 ] - Final takeaways reinforce core distinctions (insurer vs. insured), note that definitions may vary by policy, and highlight the importance of understanding agents, brokers, adjusters, and TPAs. Your PLRB Resources Sign Up for Updates on the Designation Program! https://2it6qrau8fd.typeform.com/pacedesignation Employees of member companies also have access to a searchable legal database, hundreds of hours of video trainings, building code materials, weather data, and even the ability to have your coverage questions answered by our team of attorneys (https://www.plrb.org/ask-plrb/) at no additional charge to you or your company. Subscribe to this Podcast Your Podcast App - Please subscribe and rate us on your favorite podcast app YouTube - Please like and subscribe at @plrb LinkedIN - Please follow at “Property and Liability Resource Bureau” Send us your Scenario! Please reach out to us at 630-509-8704 with your scenario! This could be your “adjuster story” sharing a situation from your claims experience, or a burning question you would like the team to answer. In any case, please omit any personal information as we will anonymize your story before we share. Just reach out to scenario@plrb.org.  Legal Information The views and opinions expressed in this resource are those of the individual speaker and not necessarily those of the Property & Liability Resource Bureau (PLRB), its membership, or any organization with which the presenter is employed or affiliated. The information, ideas, and opinions are presented as information only and not as legal advice or offers of representation. Individual policy language and state laws vary, and listeners should rely on guidance from their companies and counsel as appropriate. Music: “Piece of Future” by Keyframe_Audio. Pixabay. Pixabay License. Font: Metropolis by Chris Simpson. SIL OFL 1.1. Icons: FontAwesome (SIL OFL 1.1) and Noun Project (royalty-free licenses purchased via subscription). Sound Effects: Pixabay (Pixabay License) and Freesound.org (CC0).
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