Account manager Insurance Job Profile and Description
Account manager insurance job is to promote the insurance policies of their company to those who are directly selling them like independent financial advisors or brokers. Their role specifically involves enhancement of insurance product sale through a managed way and by building up strong relationship with the clients. Moreover, they have a central role in introducing latest insurance policies in the targeted market along with maintaining the sales process of the existing one simultaneously. In order to accomplish this objective profusely, an account manager in insurance must possess detailed knowledge about the portfolio of all the insurance products offered by the company as this would help them to meet the need of their every specific client appropriately.
Account Manager Insurance Duties and Responsibilities
Account manager insurance needs to perform the following duties and responsibilities with proficiency in order to deliver high performance through this position.
- He must identify the latest trend in the market, in order to gain new business by exploiting various opportunities for the client.
- Responsible for maintaining healthy work relationship with the insurance brokers, clients and financial advisors.
- Developing new strategies for increasing the profitability of the existing insurance policies and encouraging clients for using value added services.
- His duty also involves monitoring the performance of the insurance sales staff and reporting it to the higher authority.
- He is supposed to ensure the compliance with regulation according to the rules set by the Financial Services Authority.
- Working with the underwriters to amend the insurance policies according to the demand of the clients.
Account Manager Insurance Skills and Specifications
An account manager in insurance must possess the following skills and specifications essentially:
- Proficient knowledge in handling insurance policies and regulating them in the market.
- Managerial skill is highly required to manage the accounts and insurance staffs associated with the company
- Should have strong skill of convincing people.
Account Manager Insurance Education ad Qualifications
The account manager in insurance must have following education and qualifications to perform extensively on this field.
- Bachelors degree in accountancy, risk management, Commercial insurance.
- Professional training course in Insurance Account Management.
- License examination at initial stage of career is highly required to practice in any job position of this field.
Account Manager Insurance Salary:
Account manager insurance salary generally varies between $67,900- $90,000. However, it greatly depends upon the market and acceptability of insurance policies.