Job as an insurance technician
Rachel Carter works in Newcastle-under-Lyme, Staffordshire, as an insurance technician in the commercial insurance department of a Commercial Insurance Brokers. She supports the work of the department's more senior brokers.
What does your company do?
My company works to help clients obtain the most competitive insurance cover for their needs.We deal with many different forms of insurance, from business packages to personal accident insurance and household insurance.We assess the risk, to see if it's at an acceptable level, work out the premium for the level of cover required and, if the client accepts the quotation, cover the risk and issue policy documentation.
As with any form of insurance, claims do occur, so we also oversee the claims settlement process from start to finish.
What are your main responsibilities as an insurance technician?
Daily tasks include dealing with the post, handling telephone enquires and making sure that any correspondence or documentation we are waiting for is being chased. I also process each month's renewals for insurances, and write to clients advising them of the details of their renewal invitations from the relevant insurers.
Sometimes, I need to re-quote a client's risk. This involves putting together a presentation of the risk, which includes information such as the business description. I send this presentation to the insurance companies and ask them to submit a quotation and their terms for cover. Usually, if one of these insurance companies is more competitive than the existing insurer, I recommend that the client moves to this alternative insurer.
What are your hours?
I work from Monday to Friday. The working day begins at 9am and finishes at 5pm, and I have 45 minutes for lunch.
Who do you work with?
I work alongside more experienced insurance brokers and executives. I support their work and help them with anything they need, as well as completing my own work.
What skills do you need for a job as an insurance technician?
You must have good communication skills, as this is a service industry and you need to make the client feel comfortable enough to talk freely about the risks they want insuring. The job demands a methodical approach, but otherwise it is straightforward, as long as you keep records of everything and keep all the paperwork in order.
What training have you had?
The training I've been given since I started the job has been very thorough. At the moment, I'm studying for the Chartered Insurance Institute Diploma in Insurance. Although it can be difficult doing professional qualifications while working full time, the benefits are great. Working towards the qualification is teaching me more about the insurance industry and is helping my career development.
My company also gives training internally to make sure all staff are fully up to date with any new systems or processes.
What do you like and dislike about your job as an insurance technician?
I like the fact that every day can be totally different and I am constantly learning and facing new challenges. Filing can be a bit of a chore, but it's one of those jobs that has to be done.
What do you find challenging?
It can be challenging to meet the Financial Services Authority requirements and deadlines, and to make sure cover is continually in place for all our clients.
What about the future?
I'd like to finish the Chartered Insurance Institute's qualifications, which will give me greater career prospects and allow me to branch out into other areas of the insurance industry.
Rachels's route to her job as an insurance technician
- HND in Hotel, Catering and Institutional Management.
- Degree in Business and Tourism.
- Worked in life and pensions, then moved into commercial insurance.
Rachels's insurance technician tips
- Be prepared to work hard, as it is an extremely busy area of the insurance industry and there's a great deal to learn.
- Be patient and try not to rush your learning.
Insurance technician related jobs
- Accounting technician
- Bank/building society customer adviser
- Customer services assistant/manager
- Insurance broker
- Insurance claims settler/manager
Salary of an insurance technician
- New entrants earn around £10,000 to £14,000.
- Experienced insurance technicians earn around £18,000 to £32,000, and more senior technicians may earn up to £40,000.
Job as an insurance technician
- Young people can begin this work straight from school or college as there are no set entry requirements. In practice, though, many companies ask for four GCSEs/S grades (A-C/1-3) or the equivalent, often including English and maths.
- Entrants are usually trained on the job by experienced staff, but may also attend in-house or external courses. Some employers run an Apprenticeship in Insurance. Trainees may also study for the Chartered Insurance Institute's Certificate or Diploma in Insurance.
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