Question: Risk Control and Premium Auditing

These are two of the areas of insurance operations that often get overlooked. Underwriting, claims, and sales/marketing tend to be the "glamour" positions (if there is such a thing!) in the industry. Actuaries are frequently featured as one of the best occupations for its relatively high ratings in terms of compensation, stress level, work environment, etc.  The poor risk control and premium audit folks just never seem to get much respect.

But we're going to change that this week!  This week, you need to decide which of these two vital insurance company functions you would rather serve. Based on your reading from the textbook and any outside research you wish to conduct, explain the following:

1. If you can only choose between risk control and premium auditing career positions, which would you prefer?

2. Tell us why you prefer your chosen area, and your explanation should include some mention of the activities that you would particularly enjoy as well as any activities of your non-chosen area that you would dislike.

3. Finally, tell us why your chosen area is more important to the insurer's success than the other area you did not choose.  (Let the friendly debate begin!).