Insurance Manager Career Description

By | June 2, 2011

Insurance Manager Career Description

The activities and functions of an insurance company are managed by an insurance manager. An insurance manager is responsible for managing a trained staff to acquire clients, for business development, for deciding on the insurance premiums, and preparing insurance related documents. An insurance manager should also address all insurance claims as per the document that has been signed between the insurance firm and the client. An insurance manager also needs to travel to courts if needed to settle insurance claims and to fight their case. Candidates who want to become insurance manager can pursue post graduation in finance, or get equipped with specialised knowledge of insurance from any university. A work experience of at least 3-4 years in the insurance industry would be helpful in achieving the role of an insurance manager.

Insurance Manager Job Career Description

  • Insurance managers should manage all the departments of an insurance firm for maintaining efficient operations.
  • Insurance managers should train their staff, set customer acquisition targets and periodically review the team and individual performance.
  • They should develop the procedures and processes of the firm, go for client acquisitions, and invest the premiums in attractive portfolios.
  • They should also develop insurance documents for the firm mentioning the pricing of the insurance, interest payments, terms and conditions of the insurance, etc.
  • Insurance managers need to know which health and life related issues can be insured, the tests that are to be performed on the clients before accepting their insurance documents, and applications of terms and conditions to various insurance claims.

Insurance Manager Career Salary

Candidates who are trained to become Insurance managers can find lot of job opportunities in the field of insurance as insurance agents, in life insurance companies, commercial insurance firms, and escrow and title services. The compensation of an insurance manager differs with the kind of experience and education. According to the salary estimates by the National Salary data, the salary of an insurance manager lies between $26,000 and $94,000 per year. The median salary lies around $60,000 per year.