Commercial Insurance Job Description

March 16, 20120 Comments

Commercial insurance job description and profile

Commercial insurance agents deal with business enterprises, both large scale and small scale companies, to sell business related insurance policies such as liability insurance, business insurance and employee compensations. A commercial insurance agent acts as a bridge between commercial enterprises and insurance companies. The basic responsibility of a commercial insurance agent is to sell insurance policies to commercial enterprises.

Commercial insurance job duties and specifications

The duties and responsibilities of a commercial insurance agent are:

  • Contacting commercial enterprises and evaluating their insurance needs
  • Personally visiting the commercial enterprising or making phone calls to management and explaining the various commercial insurance policies
  • Negotiating terms and conditions with the management
  • Keeping in touch with policy holders and clearing any problems, if any
  • Generating referrals and contacts to other commercial enterprises through existing clients
  • Informing the clients about new policies
  • Collecting bills and premiums
  • Filling insurance forms and helping the clients do the same

Commercial insurance job skills and specifications

The skills and specifications necessary for a successful career in commercial insurance sector are:

  • Excellent communication and negotiation skills
  • Pleasing and courteous personality to put potential clients at ease
  • Ability to travel long distances every day
  • A thorough knowledge about the different policies offered by the insurance company where he is employed
  • Quick mind to answer questions and troubleshoot in times of doubt or confusion
  • Good mathematical, statistics and sales and marketing skills
  • A sound understanding of the working procedures of commercial enterprises in order to perceive the need of the clients and suggest relevant policies
  • Knowledge of commercial and insurance laws

Commercial insurance jobs education and qualifications

The educational qualifications requisite for the job of a commercial insurance job are:

  • A bachelor’s degree or diploma in mathematics and statistics
  • A diploma in sales and marketing
  • Must hold a license, obtained by getting through an exam conducted by the state in order sell policies

Commercial insurance job salary

On an average the annual salary is $65k per annum for a commercial insurance position. However, an agent receives commissions and cuts on each policy he sells. Therefore, he can increase his pay by selling more policies.

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