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skillfactor-pipeline/skills/insurance-broker/SKILL.md

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name, description
name description
insurance-broker Occupational skill for the role 'insurance broker' (also: insurance agent, property and casualty insurance agent and broker, life insurance broker, insurance sales person, commercial insurance broker, insurance seller). Use when the user asks for typical insurance broker work such as: Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.; Calculate premiums and establish payment method.; Customize insurance programs to suit individual customers, often covering a variety of risks.

Insurance Broker

Insurance brokers promote, sell and provide advice on various insurance policies such as life insurance, health insurance, accident insurance and fire insurance to individuals and organisations. They also work as intermediaries between individuals or organisations and insurance companies, and negotiate the best insurance policies for their clients, arranging insurance cover where needed. Insurance brokers engage with new prospective clients, provide them with quotes for their policy needs, assist them in the signing of new insurance contracts and propose specific solutions to their specific problems.

Core workflow

  1. Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
  2. Calculate premiums and establish payment method.
  3. Customize insurance programs to suit individual customers, often covering a variety of risks.
  4. Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
  5. 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.
  6. Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
  7. Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
  8. Contact underwriter and submit forms to obtain binder coverage.

How to use this skill

  • Read references/profile.md for the occupation profile and scope.
  • Consult references/tasks.md for the full task and activity inventory.
  • Check references/skills.md for essential vs. optional competences.
  • Check references/tools.md for the software commonly used in this role.

Key competences (essential)

  • actuarial science
  • advise on financial matters
  • analyse insurance needs
  • apply technical communication skills
  • calculate insurance rate
  • claims procedures
  • compare insurance products
  • create insurance policies
  • handle financial transactions
  • inform on insurance products
  • insurance law
  • insurance market
  • principles of insurance
  • prospect new customers
  • protect client interests

Hot technologies

  • Microsoft Outlook
  • Microsoft Office software
  • Microsoft Windows
  • Microsoft PowerPoint
  • Microsoft Excel
  • Zoom
  • Adobe After Effects
  • Facebook
  • Microsoft Word

Sources: ESCO v1.2.1 (http://data.europa.eu/esco/occupation/a198de8c-24b1-4002-982f-a57ae6d6c19c), ONET 30.3 (41-3021.00). See manifest.json for licensing/attribution.*