Insurance Consultants prepare and check documentation associated with insurance. Insurance consultants review individual and company requirements before proposing tailor-made coverage plans. Insurance consultants also supervise the processing of legitimate insurance payouts.  

ANZSCO ID: 552312

Alternative name: Insurance Clerk

Specialisations: Health Insurance Assessor, Superannuation Clerk.

Knowledge, skills and attributes   

• Aptitude for numbers and calculations

• Sound judgment

• Strong attention to detail

• Aptitude for working with computers

• Laudable statistical modeling techniques.

• Ability to utilize digital spreadsheets.

• Fine-tuned interpersonal, problem-solving, and referral capacities.

• Excellent verbal communication skills.

• Well-honed telephone etiquette.

• Availability beyond routine working hours.
  

(Source: Good Universities Guide)

Duties and Tasks

• Processes insurance applications, adjustments to insurance cover, standard endorsements and insurance claims.

• Monitors balances of accounts and summarises reinsurance to determine outstanding risk.

• Surveys potential risk exposure.

• Dispatches notices of premiums due and forms concerning conservation and transfer of insurance.

• Memorizing current insurance packages.

• Reviewing clients' needs to identify suitable insurance packages.

• Gauging prominent risks to ascertain appropriate payment amounts.

• Issuing non-binding insurance quotations.

• Processing clients' valid insurance claims.

• Fielding clients' queries and recommendations.

• Supporting newly-appointed Insurance Consultants by issuing sound advice.

• Partaking in scheduled and impromptu company events.

• Administer all inbound calls from various employees and prepare all product quotes for all required customers.

• Maintain knowledge on all complex policies and coverage details for same and assist customers to complete all applications and forms and all required documents.

• Monitor all policies and assist to make all required changes to same and ensure achievement of all sales objectives.

• Provide required assistance to all inbound call center and resolve all customer queries for product coverage and policies

• Prepare and present quotes for various customers regarding products and administer all general liability claims.

• Monitor all renewal processes in compliance to travel accident policies and prepare reports for all liability claims.

Working conditions

Insurance officers are employed by insurance and finance companies. They may sell insurance and usually work for wages rather than commission, making competition for available positions strong. They may work in call centres.

Education and training/entrance requirements

You can work as an Insurance Consultant without formal qualifications, however, they may be useful. VET (Vocational Education and Training) and university are both common study pathways for Insurance Consultants.

Prospects for promotion are better for those prepared to undertake further study in fields such as commerce, economics, law, computer science and mathematics. An entrant to an insurance company generally starts as a clerk and can progress through various departments to positions such as inspector, claims officer, re-insurance officer, loss adjuster, marine underwriter or manager.

As an insurance officer, you may be eligible for membership of the Australian and New Zealand Institute of Insurance and Finance.

 

 

 

Did You Know? https://www.apra.gov.au/ APRA publishes statistics on the general insurance industry on a quarterly basis, at both an industry and institution level. https://www.apra.gov.au/quarterly-general-insurance-statistics   The industry performance statistics contains aggregate summaries of financial performance and position, investments, claims, solvency, capital adequacy and management capital. Statistics are also provided at a class of business and state level.

 

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Material sourced from
Better Team [Insurance Consultant; ]
Great Sample Resume [Insurance Consultant; ]
Your Career [Insurance Consultant; ]