Insurance Agent

Roles and responsibilities

Identify and assess risks, evaluate the procedures implemented by insurance agency companies, and ensure compliance with relevant regulations.

Support the insurance agency sector’s compliance with applicable laws, regulations and guidelines and coordinate with the Enforcement Department and the Inspection and Control Department to receive updated information on the status of compliance and areas of concern.

Work with insurance agency companies and report on regulatory expectations and provide guidance on achieving and maintaining compliance.

Provide support in preparing reports on supervision activities and findings, highlighting trends, risks and areas for improvement in the insurance sector.

Assist in reviewing objection/no objection requests received from insurance agency companies (non-license requests).

Document recommendations based on best practices and international standards to enhance excellence and compliance in operations.

Prepare and update the risk profile of the supervised entities on a quarterly basis and develop the annual plan based on it.

Follow up on corrective activities imposed on insurance agency companies and take necessary actions in cases of non-compliance.

Team Leadership and Supervision
Manage Team Performance: Supervise a team of insurance agents, setting clear sales targets, providing ongoing support, and ensuring they meet performance expectations.
Training and Development: Provide training to new hires and existing staff to ensure they are knowledgeable about insurance products, policies, sales strategies, and industry regulations. Offer ongoing professional development opportunities.
Motivate and Inspire: Foster a positive work environment by motivating team members, offering constructive feedback, and encouraging a team-oriented culture.
Performance Monitoring: Regularly assess individual and team performance, providing coaching and feedback to help agents improve their skills and meet their goals.
Sales and Business Development
Sales Strategy Implementation: Develop and implement strategies to increase sales and grow the agency’s client base. Work closely with agents to ensure they are following sales best practices and meeting goals.
Client Acquisition and Retention: Oversee client acquisition strategies, ensuring that agents are proactive in both acquiring new clients and retaining existing ones. This may involve personal outreach to high-value clients.
Cross-Selling and Upselling: Encourage agents to cross-sell and upsell insurance products to clients, helping the agency maximize revenue and client satisfaction.

Desired candidate profile

Legal Knowledge
Project Management
Insurance Brokerage and Agency Management
Regulatory Oversight
Regulatory Knowledge Management and Compliance
Quality Assurance
Risk Management and Analysis
Risk Based Supervision
Operations and Administration
Operational Oversight: Manage day-to-day operational tasks, ensuring that client files, insurance policies, and documentation are organized, up-to-date, and compliant with industry regulations.
Process Improvement: Continuously assess internal processes and workflows, identifying areas for improvement to enhance operational efficiency and service quality.
Compliance Management: Ensure that the agency operates in full compliance with insurance industry regulations, including state and federal laws. This includes ensuring that agents are licensed and maintain ongoing education requirements.
Report Generation: Generate and review performance and financial reports for senior management, highlighting trends in sales, client satisfaction, and team performance.
Customer Service and Client Relations
Client Support: Address client issues or concerns that may arise, ensuring that they are resolved quickly and effectively. Oversee agents in their client interactions to ensure high-quality service delivery.
Claims Support: Assist clients with claims processing and ensure agents provide accurate and timely information to clients regarding claims status and processes.
Relationship Building: Cultivate strong, long-term relationships with key clients and ensure the agency’s reputation remains strong in the community.