Summary Report for:
41-3021.00 - Insurance Sales Agents
Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as independent broker, or be employed by an insurance company.
Sample of reported job titles:
Insurance Agent, Agent, Sales Agent, Sales Representative, Account Executive, Insurance Broker, Insurance Sales Agent, Underwriting Sales Representative, Customer Service Representative (CSR), District Sales Coordinator
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Work Context | Job Zone | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment
Tasks
- Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
- Calculate premiums and establish payment method.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance or specialized policies such as marine, farm/crop, and medical malpractice.
- Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
- Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
- Explain features, advantages and disadvantages of various policies to promote sale of insurance plans.
- Contact underwriter and submit forms to obtain binder coverage.
- Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
- Confer with clients to obtain and provide information when claims are made on a policy.
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Tools & Technology
Tools used in this occupation:
| Desktop computers |
| Laser printers |
| Notebook computers |
| Personal computers |
| Wearable computing devices — Pen-based computers |
Technology used in this occupation:
| Customer relationship management CRM software — Allied Financial Software Act4Advisors; Benefits Technology Group SalesLogix; Insurance Technologies ForeSight Enterprise; Tangle S Creations Your Insurance Office |
| Enterprise resource planning ERP software — Advantage Information Systems The Agency Advantage; Agency management software; United Systems and Software Individual Life and Health Administration System; Vulcan Solutions Vulcan Insurance |
| Financial analysis software — Cygnus Software IncomeMax; Insurance analysis software; Insurance rating software; Underwriting software |
| Spreadsheet software — Microsoft Excel |
| Word processing software — Microsoft Word |
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Knowledge
| Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction. |
| Sales and Marketing — Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems. |
| English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
| Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming. |
| Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources. |
| Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology. |
| Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data. |
| Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
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Skills
| Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. |
| Speaking — Talking to others to convey information effectively. |
| Time Management — Managing one's own time and the time of others. |
| Reading Comprehension — Understanding written sentences and paragraphs in work related documents. |
| Persuasion — Persuading others to change their minds or behavior. |
| Service Orientation — Actively looking for ways to help people. |
| Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making. |
| Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
| Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do. |
| Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. |
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Abilities
| Oral Expression — The ability to communicate information and ideas in speaking so others will understand. |
| Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences. |
| Written Comprehension — The ability to read and understand information and ideas presented in writing. |
| Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense. |
| Speech Clarity — The ability to speak clearly so others can understand you. |
| Speech Recognition — The ability to identify and understand the speech of another person. |
| Written Expression — The ability to communicate information and ideas in writing so others will understand. |
| Near Vision — The ability to see details at close range (within a few feet of the observer). |
| Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem. |
| Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways. |
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Work Activities
| Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources. |
| Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time. |
| Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems. |
| Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. |
| Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards. |
| Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. |
| Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. |
| Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events. |
| Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions. |
| Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others. |
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Work Context
| Telephone — How often do you have telephone conversations in this job? |
| Letters and Memos — How often does the job require written letters and memos? |
| Level of Competition — To what extent does this job require the worker to compete or to be aware of competitive pressures? |
| Structured versus Unstructured Work — To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? |
| Contact With Others — How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? |
| Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job? |
| Freedom to Make Decisions — How much decision making freedom, without supervision, does the job offer? |
| Frequency of Decision Making — How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization? |
| Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job? |
| Spend Time Sitting — How much does this job require sitting? |
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Job Zone
| Title |
Job Zone Three: Medium Preparation Needed |
| Overall Experience |
Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job. |
| Job Training |
Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. |
| Job Zone Examples |
These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include funeral directors, electricians, forest and conservation technicians, legal secretaries, interviewers, and insurance sales agents. |
| SVP Range |
(6.0 to < 7.0) |
| Education |
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree. |
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Interests
Interest code: ESC
| Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business. |
| Social — Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others. |
| Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow. |
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Work Styles
| Integrity — Job requires being honest and ethical. |
| Attention to Detail — Job requires being careful about detail and thorough in completing work tasks. |
| Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations. |
| Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. |
| Initiative — Job requires a willingness to take on responsibilities and challenges. |
| Persistence — Job requires persistence in the face of obstacles. |
| Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations. |
| Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job. |
| Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. |
| Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. |
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Work Values
| Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. |
| Independence — Occupations that satisfy this work value allow employs to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. |
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Related Occupations
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Wages & Employment Trends
National
| Median wages (2006) |
$21.09 hourly, $43,870 annual |
| Employment (2006) |
436,000 employees |
| Projected growth (2006-2016) |
Average (7% to 13%)
|
| Projected need (2006-2016) |
151,000 additional employees |
State & National
Source: Bureau of Labor Statistics 2006 wage data
and 2006-2016 employment projections
.
"Projected growth" represents the estimated change in total employment over the projections period (2006-2016). "Projected need" represents job openings due to growth and net replacement.
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