Insurance account managers need to be detail-oriented, customer-focused, and have excellent communication skills. They require licensing to sell insurance and must be proficient in industry-specific software and online customer management tools. Continuing education is often required to maintain their license.
To become an insurance account manager, one needs to have certain skills and attributes. An insurance account manager needs to be detail oriented and committed to customer service. Insurance account managers are team players who frequently need to interact with co-workers, clients, and insurance carriers. Also, most insurance companies require special licensing to become an insurance account manager.
There are several types of licensing that may be required to become an insurance account manager. The most common type of license is a Customer Service Representative designation. Many people looking for insurance account manager careers start with this license. This means that the person has the minimum knowledge necessary to service an account, but does not give the insurance account manager the legal authority to sell or link insurance coverage.
Most insurance brokers require licenses that allow account managers to sell property and casualty and life and health insurance to become insurance account managers. Account managers may serve primarily a property and casualty book, or life and health products, but there is often a crossover of products, and many insurance account managers are called upon to sell both lines of coverage. Typically, applicants must complete a course and pass an exam to be licensed.
Additionally, many brokers require insurance account managers to take continuing education classes. Often these classes are required for an account manager to maintain their license. In many cases, these classes count toward earning special industry designations that can help candidates become insurance account managers. An example of an industry-appreciated designation is the CPCU (Chartered Property Casualty Underwriter) designation.
Insurance account managers serve the needs of the insurance broker’s clients. They issue certificates of insurance, reconcile billing issues, and make requested changes to their customers’ policies. They are asked to identify needs for additional coverage and to cross-sell or cross-sell the accounts they manage. This high level of interaction with customers, carriers and other team members is why excellent verbal, written and social skills are required to become an insurance account manager.
Being well-versed in the latest business technology is also important for insurance account managers. They must be adept at word processors, spreadsheets and presentation software. Most brokers use industry-specific software to help them manage their trade books. To become an insurance account manager, one needs to be extensively trained in operating this agency management software.
Insurance account managers also need to learn to use the unique online customer management tools for each of the insurance carriers whose products they offer. They must be able to deliver documents electronically via several different methods. Account managers must be able to effectively manage their communications with customers and suppliers through the use of email, voice mail and traditional correspondence.
They are also deeply involved in client billing and premium collection. As such, it is vital that they are able to handle basic bookkeeping and reconcile billing statements in order to become an insurance account manager. Most account managers work for brokers who offer products from multiple vendors, so it’s important that he can master the different programs and billing cycles used by vendors.
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