Insurance is an immense industry that encompasses numerous occupations. From acting as an actuary to helping clients select an appropriate policy, there’s sure to be something here that matches your professional interests and qualifications.
If you’re interviewing for an insurance position, make sure that your customer service experience stands out. After all, much of insurance involves engaging people directly.
Customer Service Representative
Customer service representatives serve as the initial point of contact between insurance customers and insurers, so their role is critical in building customer relationships and upholding a good reputation. Therefore, these workers must possess extensive knowledge regarding all products and services as well as great communication abilities – plus be comfortable working under pressure while solving problems quickly.
Insurance customer service representatives are also accountable for logging calls, responding to routine inquiries, rerouting phone calls as necessary and processing paperwork to resolve issues. When asked by customers they may also provide quotes or reissue policies when required. Finally they often have administrative duties such as sorting mail as well as performing other clerical functions.
Though a college degree isn’t necessary for this position, most employees must at least possess a high school diploma. Some companies provide on-the-job training lasting for several weeks. Once successful training sessions conclude, individuals are typically offered full-time jobs at that company.
Insurance customer service representatives need to possess excellent research abilities as customers often contact with questions that require further investigation, from billing issues to coverage options – these calls typically arise when customers need answers quickly. A representative must possess this ability in order to find these answers quickly for customers who contact.
As with many positions, an insurance customer service representative must possess strong customer service and problem-solving abilities. They provide answers and resolve issues on a daily basis which may become stressful at times; therefore they must always remain calm and professional even when customers become upset or angry.
Important skills required of this role include being detail-oriented and computer literate – two musts! Workers in this capacity should be able to navigate company software as well as any external programs and applications necessary. Furthermore, effective communication both orally and written remains key for this type of worker.
Claims Adjuster
Insurance claims adjusters are charged with investigating, analyzing and establishing the value of an insured’s claim before reaching settlement agreements with insurers. Their expertise ranges from small loss situations to national disaster response – offering highly rewarding careers to those possessing relevant skillsets.
As a claims adjuster, you’ll require excellent customer service skills. Dealing with people who have lost everything due to natural disaster requires you to be understanding and respectful in dealing with their grieving process; additionally, dealing with people at their most vulnerable moments can be emotionally and physically draining.
As you embark on the path toward becoming an independent or public adjuster, it’s essential that you familiarize yourself with each state’s licensing requirements before starting work. One option would be finding employment with an insurance firm in your home state which would take care of this for you so you can start work more quickly while expanding your resume more rapidly.
Dependent upon the type of insurance policy you intend to purchase, additional coursework such as law, risk management or appraisal may also be required. An exam, usually online-based, will also need to be passed successfully.
Consider becoming certified in industry-standard claims adjusting software such as Xactimate. Most companies rely on it to calculate losses and it’s vital that you learn its use; otherwise, your claims won’t close properly. Therefore, to prepare yourself for a career as an adjuster, Xactimate training courses provide essential foundational knowledge. They only take a few weeks to complete and can give you an edge against competitors; successful adjusters tend to have a deeper knowledge of this software than their competition and possess strong network of connections in the industry.
Underwriter
Underwriters in insurance companies make decisions that impact people and businesses daily, with huge responsibility and must be comfortable taking risks. Furthermore, they require exceptional attention to detail as well as working effectively under pressure – this career option would suit those who enjoy making important decisions while having a keen interest in mathematics, statistics, or analysis – it can even begin without formal university training; though most insurers prefer individuals with degrees in business management, finance, accounting or economics (among others) to start this profession.
If you’re interested in becoming an underwriter, it would be beneficial to begin researching positions available during your junior year of college. There are various programs designed specifically to prepare people for this career path such as bachelor’s degrees in financial services or master of business administration (MBA) degrees which provide the skills and knowledge to launch into this industry.
Earn experience in the field by working as a trainee or underwriter’s assistant for one of the large insurance companies, who often advertise vacancies via national press or specialist recruitment agencies. Some offer structured graduate training schemes which give trainees hands-on experience across various insurance roles (including underwriting). Entry to these schemes may require competitive entrance exams with grades at least 2:1; competitive admission usually requires at least an academic 2:1 score from you to enter these schemes.
An underwriter’s daily duties consist of reviewing applications, assessing risk and establishing policy rates and premiums. They interview potential customers to gather the necessary data; in certain instances they may request additional paperwork or call clients to clarify details; they also must stay current with changes to government regulations and policies.
Underwriters can earn up to PS126,380 annually depending on their industry and location, in addition to salary. Bonuses and profit sharing opportunities may also be available for them. Underwriters usually collaborate closely with actuaries, mortgage brokers and customer service representatives; many also collaborate closely with customer support staff members as part of their support staff team.
Insurance Agent
As an insurance agent, your role will be to help people secure their financial futures. To do this effectively requires providing excellent customer service and explaining complex policies in an easily understandable way. Furthermore, staying abreast of industry developments is key and understanding how different products interact is also crucial. Most states require insurance agents to pass licensing exams; ensure you take pre-licensing courses and work with an exam prep company with a high pass rate before sitting the licensing examination itself.
Some insurance companies provide internal training programs for new agents, while others work closely with independent agents to provide education and support. No matter their structure of an agency, new agents should complete all required hours of pre-licensing education prior to sitting for a state exam. Furthermore, agents need to decide on their specialization area (i.e. life, home or auto insurance) in order to receive licensing for that product line.
After becoming licensed, you can start searching for open positions at agencies offering the types of insurance you specialize in. Be sure to inquire with these agencies or companies regarding premium quotas and requirements such as maintaining an up-to-date database of customers; many won’t hire new agents who cannot meet all the necessary standards.
Insurance agents face one of their greatest challenges when it comes to sales: finding leads and meeting sales targets. Since this career is commission-based, your income will depend on how many policies you sell and how much money you bring in from clients. But with hard work and dedication towards meeting goals, successful careers in insurance sales can be built – as well as feeling gratified from helping those when they need help most – which makes many stay in this business for an extended period.