You work for an insurance company that has recently changed its operational processes around policy purchasing...

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You work for an insurance company that has recently changed its operational processes around policy purchasing and renewals to comply with new industry regulations. The new regulations stipulate a strict price range for insurance policies. You received a company memo confirming that all the changes have been made and that the all systems and processes now comply with new pricing regulations. Several months after the changes are implemented, you notice some pricing discrepancies. Several clients have been solid policies at prices 10x higher than the maximum price listed within the regulations. You do some more research and see that there are many customers paying these higher fees and that this has been going on for many months. You speak with your direct supervisor and they tell you not to worry about it-policy pricing is automated within the computer system and it is outside of your control. Using the scenario detailed above, record the answers to the following questions in your workbook: 1. You feel your company shouldn't be overcharging its clients. Based on what you know right now, what should your next step be? 2. You later find out that your direct supervisor earns commission on all policies sold. Does this information change your next steps? Why or why not? Conflict of interest: 3. You decide to blow the whistle. What repercussions might you face? Is there anything you can do those repercussions? You work for an insurance company that has recently changed its operational processes around policy purchasing and renewals to comply with new industry regulations. The new regulations stipulate a strict price range for insurance policies. You received a company memo confirming that all the changes have been made and that the all systems and processes now comply with new pricing regulations. Several months after the changes are implemented, you notice some pricing discrepancies. Several clients have been solid policies at prices 10x higher than the maximum price listed within the regulations. You do some more research and see that there are many customers paying these higher fees and that this has been going on for many months. You speak with your direct supervisor and they tell you not to worry about it-policy pricing is automated within the computer system and it is outside of your control. Using the scenario detailed above, record the answers to the following questions in your workbook: 1. You feel your company shouldn't be overcharging its clients. Based on what you know right now, what should your next step be? 2. You later find out that your direct supervisor earns commission on all policies sold. Does this information change your next steps? Why or why not? Conflict of interest: 3. You decide to blow the whistle. What repercussions might you face? Is there anything you can do those repercussions?

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Workbook Addressing Ethical Dilemmas in the Insurance Company Scenario 1 Next Step Regarding Overcha... View the full answer