An insurance sales manager manages the sales force, trains and sells insurance products to high-end clients. Education requirements vary, but experience in insurance sales is crucial. Personnel management, sales training, coaching, and performance appraisal are also part of the job. Managers are paid a fixed salary plus bonuses.
An insurance sales manager position is only found in the finance or insurance industry. The primary focus of this position is managing the insurance sales force. Insurance is sold as a policy, purchased by companies and individuals to minimize the financial consequences of unexpected situations. There are three main responsibilities for a person in this position: managing staff, training and selling insurance products to high-end clients.
The level of education required to qualify to be an insurance company manager varies by organization, but most companies require at least a three-year community college degree. There is no specific degree or diploma program that provides the necessary training. Instead, the insurance company offers training to all employees after employment and continues to offer courses throughout their careers. Although many insurance sales managers hold a master’s of business administration (MBA), it is not required.
The most important requirement for becoming an insurance sales manager is insurance sales experience. People who are consistently top sellers are often promoted to the position of manager. In that role, he or she can teach others how to achieve the same success.
Personnel management forms a large part of an insurance sales manager’s responsibilities. This includes interviewing, hiring, disciplining, and firing. The manager sets the tone for the department, determines the amount of support provided to the team, and encourages sales.
Sales training, coaching and performance appraisal are usually completed by the insurance sales manager. Each sales team member is provided with the standard training program. Good managers take the time to help the team fine-tune their technique to get more sales. Hands-on sessions and team meetings are a great way to keep your team motivated.
Insurance managers often have a list of clients they have acquired over the years, and many keep their client list active. This means they continue to manage their accounts, selling new products as needed. He or she usually stays in touch with high profile clients to keep the relationship and commissions going.
Insurance sales managers are generally paid a fixed salary plus bonuses. This structure provides the motivation to continue selling products and selling existing customers. In addition, the bonus is linked to the productivity of your team. This combination creates a highly motivated manager who will find the best ways to increase sales.
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