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Also known as:
Health Insurance Sales Agent, Insurance Agent, Insurance Broker, Life Insurance Agent, Life Insurance Salesperson, Pension Agent
Most people would prefer not to think about insurance. But in the event of an injury or accident we are thankful that insurance will cover the loss. Insurance sales workers provide valuable information to customers about the risks of everyday life.
Those workers offering car and homeowner's ...
insurance compete on price and service. But most people need life, health, and disability insurance as well, and they rely on these professionals to analyze their needs and recommend appropriate insurance products. That can be a challenge because so many combinations of insurance, mutual fund investments, and other financial instruments are available.
While insurance companies provide extensive training, much of the time-purchase decisions in this highly competitive business are made on the basis of personal chemistry. If you have a talent for financial matters, enjoy working with people, and love to sell, insurance sales can be a very rewarding occupation.
SNAPSHOT
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Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
Leadership
HIGH
Critical decision making
HIGH
Level of responsibilities
LOW
Job challenge and pressure to meet deadlines
HIGH
Dealing and handling conflict
LOW
Competition for this position
HIGH
Communication with others
HIGH
Work closely with team members, clients etc.
HIGH
Comfort of the work setting
HIGH
Exposure to extreme environmental conditions
LOW
Exposure to job hazards
LOW
Physical demands
LOW
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DAILY TASKS
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Monitor insurance claims to ensure they are settled equitably for both the client and the insurer.
Contact underwriter and submit forms to obtain binder coverage.
Develop marketing strategies to compete with other individuals or companies who sell insurance.
Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
Confer with clients to obtain and provide information when claims are made on a policy.
Attend meetings, seminars and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
Select company that offers type of coverage requested by client to underwrite policy.
Explain features, advantages and disadvantages of various policies to promote sale of insurance plans.
Perform administrative tasks, such as maintaining records and handling policy renewals.
Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
MAIN ACTIVITIES
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Selling or Influencing Others
Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
Communicating with Persons Outside Organization
Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
Performing for or Working Directly with the Public
Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
Establishing and Maintaining Interpersonal Relationships
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Making Decisions and Solving Problems
Analyzing information and evaluating results to choose the best solution and solve problems.
Resolving Conflicts and Negotiating with Others
Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
Updating and Using Relevant Knowledge
Keeping up-to-date technically and applying new knowledge to your job.
AREAS OF KNOWLEDGE
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Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Sales and Marketing
Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Clerical
Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
KEY ABILITIES
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Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Written Expression
The ability to communicate information and ideas in writing so others will understand.
Speech Clarity
The ability to speak clearly so others can understand you.
Near Vision
The ability to see details at close range (within a few feet of the observer).
Speech Recognition
The ability to identify and understand the speech of another person.
Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
TOP SKILLS
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Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Reading Comprehension
Understanding written sentences and paragraphs in work related documents.
Speaking
Talking to others to convey information effectively.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Service Orientation
Actively looking for ways to help people.
Time Management
Managing one's own time and the time of others.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Persuasion
Persuading others to change their minds or behavior.
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