Insurance Agent Job Description

An Insurance Agent assesses the uncertainty and risk associated with any business and makes project models about the cost of the expected threats and risks. They coordinate with external actuary and auditing firms for interim and annual actuarial information. Reconcile and analyze actuarial inputs and outputs. They use different tools i.e., statistics, economics, and mathematics, and financial theory to critically analyze the risks associated with any event or occasion, and thus they assist the businessman, clients, and entrepreneurs to establish policies to reduce the cost of the relevant risk. An Insurance Agent plays an important role in the development, maintenance, and troubleshooting of a company.

What are the job duties of an Insurance Agent?

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• Prospecting skills.
• Meeting sales goals.
• Motivation for sales.
• Product knowledge.
• Organizational skills.
• Attention to detail.
• Bachelor's degree in Mathematics, Statistics, Actuarial Science, or related field.
• Associate or Fellow CAS or SOA designation preferred.
• 3-5 years actuarial experience.
• Advanced Microsoft Excel and Access skills.
• Strong familiarity with GAAP.
• Advanced familiarity with a wide variety of actuarial functions.
• Proficient at working with large data sets.
• High degree of attention to detail.
• Strong verbal and written communication skills.

Responsibilities:

• Develop, maintain, and analyze projection models.
  
• Coordinate with external actuary and auditing firms for interim and annual actuarial information.
• Reconcile and analyze actuarial inputs and outputs.
• Collaborate with key leaders in order to identify and meet information needs.
• Establish actuarial procedures and document them for internal use.
• Provides service to clients’ changing insurance needs by selling life, health, and disability insurance.
• Establishes productive working relationships with clients.
• Develops base for long-term sources of clients.
• Compiles lists of prospects.
• Determines clients’ particular needs and financial situations by scheduling fact-finding appointments and determining the extent of present coverage and investments.
• Ascertains clients’ long-term goals.
• Develops a coordinated protection plan by calculating and quoting rates for immediate coverage action and long-term strategy implementation.
• Communicates with adjusters.
• Obtains underwriting approval by completing application for coverage.
• Completes coverage by delivering policy, planning future follow-up visits, and evaluations of needs.
• Provides continuing service by providing direct deposit forms, processing changes in beneficiary, and analyzing policy loan applications.
• Provides death benefits by delivering policy proceeds and reassessing client needs.
• Updates job knowledge by participating in educational opportunities, maintaining personal networks, and participating in professional organizations.
• Enhances insurance agency reputation by accepting ownership for accomplishing new and different requests and exploring opportunities to add value to job accomplishments.

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