Job Title: Commercial Insurance Account Representative
Type of Company: I work for an independent insurance agency which provides all lines of insurance.
Education: BS, Business Administration
Previous Experience: I have worked for four different independent insurance agents.
Job Tasks: I service the policies of small commercial clients. I approach new commercial clients and offer to get them the best insurance policy for the best price. I ask about their insurance needs and the type of business they operate and recommend policies to them. I also act as a liaison between the insurance agents in the office and the company's underwriters. Most of the pricing of policies in the small business unit are done online. The agency I work for represents seven insurance companies, each with its own software rating system. I use each system everyday as most insurance companies are now "paperless" and all processing is done online for the client.
I attend each company's informational seminars to stay familiar with their product lines and find out about changes to their products.
I do the billing of premiums for all the clients assigned to me and review all policies for clients for accuracy.
I review a client's renewal policies for accuracy and changes in coverage, then write cover letters outlining the changes and mail each policy out.
I keep track of all new business that is written in my department and meet with the sales team each month to discuss company goals and any marketing issues that I may be facing with a client's piece of business.
Best and Worst Parts of the Job: The best part of my job is establishing the right type of product for my clients and being able to place it with an insurance company that offers it at a good price.
The worst part of my job, right now, is having to cancel a policy based on a client's payment history. Losing a long time client because his business closed (and not because of our service or something I could've controlled) is a bummer too.
Job Tips: If you decide to get into the insurance business, try and take courses that relate to it. Decide whether you want to be in sales or service, on the company or agency side of the business. Try to familiarize yourself with what it is going through currently.
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