Manager Insurance Job
An insurance organization has many managerial positions, each carrying different titles and responsibilities. The most common managerial positions are the account manager, agency manager, risk manager, claims manager and the customer service manager. In some insurance organizations, the job responsibilities may overlap or a manager might assume two roles and handle the duties of dual roles.
Insurance account managers handle customer accounts, individual or corporate. They analyze the client's needs and prepare proposals and recommendations for optimum coverage for the client. The insurance customer service manager oversees the customer service operatives and front-liners. He is responsible for the operational effectiveness of the customer service department, to ensure optimal customer satisfaction.
The insurance agency manager job responsibilities include the management of the operations and sales performance of an agency or a branch office; they are sometimes called branch managers. They also act as intermediaries between their agents and the head office. Insurance district managers have similar functions with responsibilities covering a larger area, such as the agencies in a district.
The insurance claims manager job responsibilities involve the supervision of the insurance claims department, to ensure that all claims are processed according to procedures and if necessary, initiate legal investigations. The insurance risk manager has to be sufficiently astute to identify the risks that the company may encounter from industry trends, government regulations or competitive activities. Risk managers are also expected to propose programs or actions to counter these risks.
The salaries for the various managerial positions vary, depending on the organization as well as the experience and credentials of the manager. The average annual salary for an insurance account manager ranges from USD 69,000 to USD 79,000 while an insurance customer service manager earns from USD26, 000 to USD 67,000. The insurance claims manager annual salary is about USD 80,000 and the salary for an insurance risk manager ranges from USD 68, 000 to USD 127,000.
The branch and agency managers command higher salaries, as they are responsible for the sales of the branch or agencies. Their average annual salaries range from USD 70,000 to USD 144,000. Some organizations have performance-based incentive schemes for their managers, which are based on the revenue or sales performance of their agencies or the organization.