United States
Sector
Keyword
Insurance Advisor
Financial Planner
Minimum ? Graduate
Freshers or up to 2 years of work experience in insurance industry
The tasks an Insurance Agent is expected to perform include:
Identifying and making a list of prospective insurance buyers through social contacts, business directories, etc.
Meeting the identified clients to sell insurance policies covering risk of life, property, business, etc.
Explaining the benefits of various insurance plans devised by the company
Ensuring that policy requirements are fulfilled, including any necessary medical examinations property inspection, completion of appropriate forms, etc.
Collecting the advance against the first premium from client and depositing the same in the respective branch, bank, etc.
Assisting the policy holders in servicing their policies
Achieving the stipulated business target annually
Assisting policy holders in getting their claims settled
Proficient in identifying clients? insurance needs and suggesting the appropriate policy to clients
Knowledge of calculating insurance premium and establishing payment methods
Well-versed with all the insurance policies devised by the company
Adept in interviewing clients to obtain details like physical condition of the person or property to be insured, existing insurance coverage, etc.Proficient in networking and developing new clients
Adept in performing administrative tasks, such as maintaining records and handling policy renewals
Proficient in assisting policyholders in getting their claims settled
Well-versed in developing marketing strategies to promote company?s policy
Knowledge of current market trends and new insurance products coming in the market
Not applicable
Effective communication skills
Extrovert
Good listener
Detail-oriented
Self-motivated
Relationship building skills
Hardworking and persistent
Time management skills
It needs one to be on their toes
May require to supervise Officers
Travelling is a part of this job role
Part-time and contractual jobs are available in some cities
Work from home option maybe available
Working hours
Companies usually work for 5/6 days a week and 9/10 hours everyday. This may vary company to company
Being self-employed is also an option. In this case, the working hours and days will be flexible
Shift system is not available
Is the job suitable for a candidate with special needs?This job is suitable for candidates with One Arm (OA), One Leg (OL),Blind (B), Low Vision (LV) and those who are Hearing Impaired (HH)
This job is considered to be mildly hazardous or dangerous
Health risks include stress, slip and falls, exposure to extreme temperatures, extensive travelling, etc.Occupational hazards include physical injuries, depression and anxiety, heart diseases, accident, head ache, infection, fatigue, etc.
For freshers ? INR 10,000 to INR 15,000 per month For candidates with 1/2yearsofexperience-INR15,000 to INR 25,000 per month For candidates with over 2 years ofexperience-INR25,000 to INR 35,000 per month (This figure are indicative and subject to change)
Overview of Banking, Financial Service and Insurance Sector in India
India is one of the fast growing economies and second most populous country in the world. With the population of more than a billion people and rising per capita income India provides an enormous opportunity for the BFSI companies. Currently 58.7 percent of the Indian households do not have access to any banking and financial service network, thus offer an enormous opportunity to BFSI companies to expand by introducing new products, leveraging technology, deploying innovative strategies and ramping up distribution network.
India has a diversified financial sector, which is undergoing rapid expansion. The sector comprises commercial banks, insurance companies, non-banking financial companies, co-operatives, pension funds, mutual funds and other smaller financial entities. The financial sector in India is predominated by the banking sector. The Indian banking sector is fragmented, with 46 commercial banks competing for business with dozens of foreign banks as well as rural and co-operative lenders. Public sector banks holds majority of the market share in Indian banking sector.
The Indian Life Insurance industry is one on the strongest growing sectors in the country with the market size of around US$ 41-billion. India is the fifth largest life insurance market with 24 life insurance companies operating across the country. As of 2012, insurance penetration and insurance density in India stands at 3.96 percent, very low as compared to other developed countries. With the increase in per capita income and growing awareness about the benefit and requirement of insurance, the Indian insurance market is expected to grow from US$66.4 billion in FY13 to US$ 350?40 billion by 2020. Thus with the expected high growth the demand for various professionals in the insurance sector like Insurance Agent, Manager, etc. is bound to increase and it is expected that insurance sector will create 0.15 million additional jobs by 2022.
The BFSI sector in India currently employs over 2.55 million people and looking at the future growth potential it is estimated that BFSI sector will employ more than 4.2 million employees by 2022, an additional 1.6 million job creation by 2022.
Self-employed
All banks, insurance and other financial service companies across India
Cities across India
All Arts, Science and Commerce college across India
Institute of Finance, Banking and Insurance (IFBI)Insurance Institute of India (III)Institute of Insurance and Risk Management (IIRM)Insurance Academy (IA)National Insurance Academy (NIA)
Will be updated
