Job address
US
Company size
11-50 employees
Job sector
Finance
occupation category
Insurance Sales Agents
Job type
Contract
Work environment
In person
Company Overview
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Job details
Required skills
- Explain why the duty of disclosure is important for underwriting, when and to whom it applies
- Knows why material facts are important in assessing risk
- Validates client agreement with proposed solution concepts
- Keeps accurate and complete records of communications and business transactions in accordance with company procedures
- Reinforces value
- Use selected social media platforms for various phases of sales strategy
- Maintains account management for existing clients
- Incorporates claims loss ratio for the pricing of a risk
- Builds customized insurance policies and packages to meet clients needs.
- Maintains client/contact management files
- Exhibits fairness and transparency in all transactions and interactions
- Keeps accurate and complete records for both the company and its customers
- Identify situations that may create ethical dilemmas
- Use ethical principles in decision making processes
- Knows which types of risks are not acceptable and why
- Verifies documents and payments are received
- Calculates amount of claim
- Achieves consistently the key performance indicators (KPIs) determined by company
- Identifies sales communications and objectives
- Conducts review processes for unsuccessful sales
- Reacts to client inquiries and prioritize follow-up to build relationships
- Confirms and follows up on sale using designated process
- Collects initial premiums and issues receipts
- Shares achievements, issues, and problems with stakeholders (i.e. immediate supervisor)
- Establishes and maintains data and information records which are sufficient for own purposes, and which meet company, legal and regulatory requirements
- Seeks client’s commitment
- Holds conversations through social media and sharing of information
- Speaks to characteristics of the industry that are outlined on product or service documentation
- Complies with legislation
- Processes insurance policy renewals.
- Explains various insurance policies and products to potential and existing clients; guides clients in selecting coverage to best meet their needs.
- Compares own products and services to competition to identify advantages and disadvantages
- Establish regular communication schedule, frequency of blogging/posting
- Applies insurance rating systems
- Remain objective, e.g. set aside personal opinions and biases
- Uses appropriate technology to drive sales and increase productivity
- Follows delegation of legal responsibilities, e.g. legal department, procurement team
- Uses business system knowledge, e.g. Google Docs, Excel, Word, Drop box, MS Project, Outlook
- Sets itemized schedule to complete tasks and activities › Prioritize tasks
- Incorporates premium loadings and discounts in own area of work
- Understands the relevance of financial statements as they relate to developing client intelligence
- Implements potential solutions to meet client needs: › resolve issues › focus on interests and goals
- Develops a solution with client in mind, e.g. specific requests or constraints, budget requirements, alignment with goals and objectives
- Conducts scheduled client interaction
- Validates assumptions about clients’ budget and purchasing authority Maintains account management for existing clients
- Asks client for its business
- Breaks down large tasks into manageable action steps
- Escalates legal matters to immediate supervisor when required
- Checks computations of interest accrued, premiums due, and settlement surrender on loan values
- Contacts prospective clients about insurance products and policies.
- Reviews insurance policy to determine coverage
- Carries out new tasks that have arisen based on determined responsibilities
- Obtains client’s approval for final product or service
- Suggests modifications and updates to clients existing insurance policies.
- Builds prospect lists from existing identified sources, e.g. existing and past client lists, reports from lost business, referrals, trade publications, association and membership lists
- Tracks client information, next steps and follow up notes
- List benefits and advantages of company’s products and services
- Conducts a follow-up communication schedule
- Calculates premium for classes of business being underwritten
- Follows closing techniques to finalize the sale: › review selling points
- Represents capabilities and conditions accurately without deception
- Verifies contracts are signed and returned
- Validates assumptions about clients’ budget and purchasing authority
- Demonstrate understanding of basic financial formulas, including revenue, costs, pricing discounts, profits and losses, return on investment, and return on time invested
- Pays small claims
- Ensures production and delivery schedules are met
- Understands organization's process for obtaining material facts
- Identifies if a claim requires specialist handling and the resultant claims management process (e.g. fraud suspicions, a large loss)
- Calculates premiums, refunds, commissions, adjustments, or new reserve requirements, using insurance rate standards
- Builds network to leverage relationships, to create new connections and referral network
- Adheres to organization’s policies and procedures
- Identifies which exclusions and policy conditions are standard and which are non-standard on a policy
- Respond to ethical dilemmas according to code of ethics/conduct
- Meets with potential clients to discuss adequacy of existing insurance coverage and related financial resources.
- Confirms details are accurate
- Assists clients with filing insurance claims
- Modifies, updates, or processes existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance
- Applies appropriate format of social media for industry
- Keeps information confidential and secure and understands the implications of not doing this
- Collects information related to client’s decision-making process, organization structure and profile of all individuals involved in the purchasing decision
- Tracks and shares information accordingly
- Finalizes pre-approved pricing
- Identifies whether a policy is in force and the next steps in processing a claim notification
- Highlights own products and services
- Develops and implements weekly/monthly plans
- Manages funnel by adding new opportunities in the pipeline on a regular basis as soon as an opportunity is identified
- Identifies factors that can affect the premium rate for an individual risk
- Implements action plan
