Job Descriptions
Sales (Producer)
The job of the producer in an insurance agency is to sell or produce the business that enables the agency to prosper and grow. The producer often responds to requests from clients who need insurance, as opposed to the stereotypical salesman who goes door-to-door to market their products. These professionals act as a consultant for businesses and families, evaluating needs and recommending the most appropriate means of meeting those needs.
Essential qualifications: A degree in business or a related field is very helpful. This individual needs to be intelligent and have a thorough understanding of business. Equally as important are motivation, a desire to succeed, good communication skills and a willingness to work hard.
Earning potential: As a producer with an independent insurance agent, your financial destiny is limited only by yourself. You will be provided with the opportunity to develop your own clients and accounts, referred to as your book of business. The position often offers the opportunity to set your own schedule and work at the pace that is most productive to you. After the initial development period, the typical producer’s earnings are comparable to professionals in industries such as law, accounting, architecture, etc. As a producer, there is no limit to your earning potential. The harder you work, the more you earn.
Advancement opportunities: Producers are often the highest-earning individuals in an agency. Therefore, many individuals chose to remain in this position for the majority or duration of their career. On the same note, most executive and management positions are filled by successful producers, and most agency owners are established producers who established or acquired their own business.
For more information on this career and other career opportunities in the insurance field visit theTexas Department of Insurance and select your occupation of interest.
Customer Service (Account Manager)
Teamwork is essential to success in an insurance agency. The customer service professionals who service the clients and their accounts are just as crucial to the agency as the producers who bring in the business. The CSR or account manager deals with clients, customers and insurance companies to assure that the needs of the clients are being served. CSRs become licensed insurance agents to assist customers with the addition of insurance coverage to existing policies, to renew policies, or to write new insurance policies that may be requested by customers. CSRs create and maintain good relations among clients, agencies and insurance companies.
Essential qualifications: Intelligence, the ability and willingness to solve problems, and the ability to work well with many types of people are crucial to the success of a customer service representative. Although many CSRs have college educations, and most continue their education after joining an agency, a high school or GED diploma are required.
Earning potential: Salaries for customer service representatives at independent insurance agencies are comparable and competitive with those earned by teachers, nurses and similar professions. In addition, employee benefits such as paid vacations, health insurance and educational assistance are usually generous. Commissions on sales, profit sharing plans and employee stock ownership options also significantly increase the overall compensation package offered by most agencies.
Advancement opportunities: Many CSRs become customer service team leaders, office managers and producers (sales agents).
For more information on this career and other career opportunities in the insurance field visit theTexas Department of Insurance and select your occupation of interest.
Actuary
Uses analytical skills to predict the risks involved in insuring certain businesses and occupations. They help set prices, or premiums, which helps determine the company's profits or losses.
A good choice if you like working with numbers.
Agency Manager
Responsible for the overall operations and administration of the agency. In a number of agencies, the agency principal is also the agency manager.
Agency Owner
Owns the agency and is responsible for the success of his or her business.
Agent/Broker
Sells and services policies to individuals and businesses in the community. They help customers by advising them on how to protect the things they value and which protections to choose. Much like a family doctor, an agent knows a lot about his or her clients and develops relationships, sharing in milestones such as the purchase of a new home, the birth of a child, graduations and new job ventures.
A good choice if you like working with people and selling.
Claims Adjuster
Determines the extent of damage when an accident occurs and whether the damages are covered by the insurance policy. Arranges for repairs and is responsible for reaching settlements that are fair to both customers and the insurance company.
A good choice if you are a good negotiator and enjoy working with numbers.
Customer Service Team Leader
Responsible for the customer service staff and for insuring quality service to clients.
Field Representative
Acts as a liaison between the insurance company and the agents and brokers who sell the company's products. This person is an important resource and strong interpersonal skills are a plus.
A good choice if you can communicate and think on your feet.
Loss Control Specialist
Helps keep accidents and losses to a minimum by examining work areas, looking over machinery and recommending safety procedures. Works directly with customers to promote safety in the workplace.
A good choice if the engineering field appeals to you.
Risk Manager
Identifies risks that their company may face and recommends how to deal with them. Using thoroughness and analytical skills, they help keep their company's losses to a minimum and to control them when they do occur.
A good choice if you are interested in an analytical, management position.
Sales Manager
Responsible for sales staff. Works with sales team to set goals and outline a plan to achieve them. In a number of agencies, the sales manager is the agency principal.
Underwriter
Evaluates risks and decides whether or not the company should provide insurance to applicants. They use clear thinking skills to assess situations based on all the information and make reasoned decisions.
A good choice if you are analytical and can make decisions.
For more information on these careers and other career opportunities in the insurance field visit the Texas Department of Insurance and select your occupation of interest.
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