CRM VS ARM

[cjmehta]

Hello I am an underwriter in the commericial P/C side, farily new to the inustry with about 2yrs expirience. I am wanting to do either my ARM or CRM, but am not sure what the differences, benefits, etc are between the two. I have heard that the CRM encompasses the same things as theARM but offers a bit more, but the CRM is fairly new, and the ARM has been around for decades. Any advise or help in this area would be greatly appreciated.

Thanks in advance!!

[ASTRA]

Have you considered pursuing your CPCU designation? I would highly recommend it, it is the "masters of insurance" and a highly regarded distinction among insurance professionals. Having just completed mine, I have to say it was time well spent!

[scott]

Depends on your aspirations.

CPCU if you plan to stay on the company side.

CIC first, then CPCU, then ARM if you plan to go on the agency side.

The CPCU is the gold standard in any part of the insurance business.

ARM is well respected on the risk management side.

[cjmehta]

Thanks for the reply. I have def. considered the CPCU, but time is a factor right now. Another words, I am starting my MBA and I am under the impression that CPCU is extremely difficult, hence the reason for ARM or CRM and also I am wanting to get more on the risk mgt side of the company and away from the service sides, which is why I am shooting for the ARM or CRM. Do you know specifics of what the ARM, and CRM are. I have got brief explanations through the testing sites and such th at explain that they teach you political risks, catastrophic loss exposures, third-party exposures, fiduciary exposures, employee injury exposures, juridical risks, legal risks, and more, and the ARM is a bit less.

Ultimatley, as per above, I want to be more on the risk mgt side of a company, and not necessarily sticking with the insurance business. Hope the helps out in explaining what I truly what I want..

[ASTRA]

I'd say pursue the ARM designation then first.

[cjmehta]

Thanks Astra,
Now as a addon to my questions, which I hope is okay to do. What about the CIC. Is it typical for those in risk mgt to have that particular designation?

[AlstonCPCU]

CIC is common for agents. The difference between CIC and CRM and the AICPCU designations is that CIC and CRM are multi-day cram sessions with instructors that are followed by tests. The AICPCU designations involve academic books that are read and studied independently for a period of time and then followed by tests. The CPCU and ARM books read much like college texts and come with workbooks and CD-Rom practice tests. I know plenty of smart people with CIC designations, but the AICPCU designations are viewed as superior by people in the company and consulting sides of the business.

[scott]

I have CIC, CPCU, ARM, and one part (so far) of the CEBS.

CIC was easy - almost laughable - the Ruble Seminars you can attend after you get your CIC are excellent. I rarely disclose to non-insurance people my CIC - nobody knows what it is. Tests were a 4 on a scale of 1 to 10.

CPCU was more difficult though not terribly taxing if you did the work. I took two and three exams-at-a-time most semesters. Tests were a 6 on a scale of 1 to 10.

ARM was by far the most difficult. Tests were an 8 on a scale of 1 to 10.

CEBS so far is a 5 on a scale of 1 to 10.

Unless a person is a corporate risk manager I would never suggest starting with ARM. CPCU is the gold standard for anyone in the insurance business.