Insurance Sales Agents

Sales & Account Management

Level 4367 of 1200 points

Job description

Insurance Sales Agents

Job purpose

To develop clients, establish their circumstances and exposures, and sell and service life, property, casualty, health, automotive and specialised insurance policies for insurers, so that clients hold cover matched to the risks they carry and business is placed on terms the underwriter will accept.

Skills

Knowledge of insurance products and their terms across automobile, fire, life, property, medical and dental cover and specialised lines such as marine, farm and crop and medical malpractice; of underwriting requirements and the binder process; of premium calculation; and of the law and regulation governing the sale of insurance, supported by sales and marketing method and customer service principles. A bachelor's degree is the most common qualification, with sizeable minorities holding an associate's degree, a post-secondary certificate or a school diploma, together with several years of related experience and on-the-job training.
Interviews prospective clients to obtain data on their financial resources and needs, the condition of the person or property to be insured and any existing cover, then explains the features, advantages and disadvantages of the options. Calls on policyholders to deliver and explain the policy, suggest additions, changes or new beneficiaries, and confers with clients when a claim is made and with underwriters when cover is placed.
Customises insurance arrangements to individual customers, often across a variety of risks, and selects the company that offers the cover requested to underwrite the policy. Judges whether property is a good risk from its condition, construction and age, checks that policy requirements including medical examinations and forms are fulfilled, and monitors claims to see they are settled equitably for client and insurer. Underwriting rules, policy wordings and regulation set the boundaries, and decisions within them are taken frequently.
Develops clientele by networking and generating prospect lists, and devises marketing approaches to compete with other agents and companies. Determines own tasks, priorities and goals, scheduling prospecting, client visits, renewals and administration against time pressure.
Desk-based work using computer records and policy systems, with time spent in an enclosed vehicle travelling to policyholders and to properties inspected for risk. No manual handling or dexterity demands.

Responsibilities

No line management. Coordinates others in accomplishing work and contributes to a work group, acting as the insurer's representative to clients and prospects.
Calculates premiums and establishes the method of payment, and writes business that commits the insurer to cover. Contacts the underwriter and submits forms to obtain binder cover; acceptance of risk and rate-setting rest with the underwriter, not the postholder; the discretion held is over which insurer is approached and what is recommended to the client. Holds no budget; the volume of business written bears on company results.
Ordinary care of a workstation, computer and policy records. Inspects clients' property to assess risk without taking custody of it, and may install and troubleshoot bookkeeping systems for group insurance arrangements.
Maintains client records, applications and renewals, and handles the personal, financial and medical information gathered when cover is arranged and claims are made. Accuracy is central: the particulars recorded determine whether policy requirements are met, and error carries consequences for the client's cover and the insurer. Content and format are set by the insurer and by regulation.

Effort required

Sustained accuracy in assessing circumstances, calculating premiums and completing documentation, with frequent decisions taken quickly under time pressure and a heavy volume of telephone, e-mail and face-to-face contact. Much of the administration is repetitive, while each client's exposures need fresh judgement.
Selling is contested by other agents and companies, and results depend on continuing to open new relationships. Claims discussions and disagreements over cover bring conflict situations and dealings with unpleasant, angry or discourteous people, to be handled with composure while representing the insurer's position.
Predominantly seated work, with periods driving between clients. No lifting or exertion.

Working conditions

Indoor, environmentally controlled offices and clients' premises, with regular time spent in an enclosed vehicle travelling between them. Work is in close physical proximity to clients; emotional exposure comes from conflict situations and dealings with angry or discourteous people.
Most incumbents work a regular established schedule, though a substantial minority work irregular patterns, and the great majority work more than forty hours a week. Considerable freedom is exercised in determining tasks, priorities and goals within underwriting and regulatory limits, with frequent decisions whose impact reaches the client and company results.

Skills

40% · 197 points▾

KnowledgeLevel 4 of 8
72 of 144 points
Factual and theoretical knowledge in broad contexts within a field of work. The job requires a range of thinking and practical knowledge to find solutions to specific problems in the job or study area.
Interpersonal and communication skillsLevel 3 of 5
58 of 96 points
Effective communication and interpersonal relationships. The job holder is required to adapt communication to different audiences and foster trust, cooperation and positive working relationships.
Problem-solving skillsLevel 2 of 5
38 of 96 points
Standard problems. The job involves solving problems with defined alternatives. Some judgement is needed, but help is usually available.
Planning and organisational skillsLevel 2 of 5
29 of 72 points
Basic organisational skills required. The job involves planning and organising one's own work within set deadlines. Some input into scheduling and prioritisation of tasks.
Physical skillsLevel 0 of 5
0 of 72 points
Not applicable. The job does not require any particular physical skills (although there is likely to be some physical activity).

Responsibility

35% · 93 points▾

PeopleLevel 0 of 5
0 of 144 points
Does not apply. The job does not require any responsibility for people.
Goods and equipmentLevel 1 of 5
17 of 84 points
Limited responsibility for goods or equipment. The job involves the care and proper use of low-value tools or materials, with minimal responsibility for their maintenance or security.
InformationLevel 2 of 5
38 of 96 points
Limited responsibility for information. The job requires the individual to gather, process or share information in a controlled way, following guidelines or predefined procedures.
Financial resourcesLevel 2 of 5
38 of 96 points
Limited responsibility for financial resources. The job involves handling limited financial resources, such as managing small budgets, processing invoices or participating in financial planning discussions.

Effort

15% · 53 points▾

Mental effortLevel 2 of 5
24 of 60 points
Moderate mental effort. The job involves tasks that require focus, such as analysing straightforward information or performing repetitive tasks that require attention to detail.
Psychosocial and emotional effortLevel 2 of 5
29 of 72 points
Occasional psychosocial and emotional effort. The job requires occasional involvement in emotionally demanding situations, such as handling minor conflicts or dealing with upset individuals.
Physical effortLevel 0 of 5
0 of 48 points
Not applicable. The job does not require any physical effort.

Working Conditions

10% · 24 points▾

Environment (physical, psychological or emotional)Level 1 of 5
17 of 84 points
Minimal exposure to hazards or stress. The job involves little or no exposure to physical hazards (e.g. chemicals, moving equipment, noise) and minimal emotional or psychological risks (e.g. occasional routine tasks with no emotional burden). There is minor exposure to dust, dirt, fumes, noise, waste, poor lighting, etc.
Organisational environmentLevel 1 of 5
7 of 36 points
Minimal organisational demands. The job requires standard working hours with no night shifts or irregular schedules. There is little or no need for travel or digital connectivity beyond typical working hours.