Overall job content
The overall role of the Senior European Insurance Intermediary is to build and maintain a profitable portfolio of customers within his/her given segment. This involves finding the right potential customers; analyzing complex risk situations and designing solutions that address the customers’ needs in a way that is also beneficial for the insurance company. The Senior European Insurance Intermediary deals with business customers and thus mainly negotiates with professionals with the responsibility to buy insurance for the entire business. He/she may also sell individual insurance to VIP’s at the customer company.
The European Certified Insurance Senior Intermediary should be placed at EQF 5:
- The person has 2-3 years of education (some degree of theory but still with a more practical focus)
- The person is a practicing sales person (rather than having more administrative/managerial tasks)
- The person solves insurance problems for the customer (rather than developing new products or practices for the insurance company)
The primary difference between the EII and the Senior EII is:
- An EII sells standard products to end-users. He/she works within boundaries set by the company and does not necessarily know the larger economic implications of the sale.
- A Senior EII sets his/her own framework, i.e. he/she builds his/her own portfolio. He/she knows his/her market, and the economy of his/her company, so well that he/she can judge which customers to pursue and which not. His/her customers are mainly business customers (including the individual VIPs within the company in question).
The profile does not cover an agency manager.
Exams applying for accreditation of European Certified Insurance Senior Intermediary must meet the following criterias within knowledge, skills and competences.
The country’s legal principles, regulations, directives and code of ethics which may have effect on the sales process.
Build customer relationship
Act in a professional and ethical way.
The overall structure, conditions and pratices of the national market.
Make a needs analysis
Working to build a profitable customer portfolio
The fiscal aspects of a contract
Identify possible fraud situations
Identify customer needs and develop complex insurance solutions and work with insurance company to develop the insurance solution if necessary
The concept of risk and risk management
Develop a solution
Develop a strategy to meet sales targets and follow market developments and adapt sales strategy towards the customer
The economical aspects of insurance contracts (e.g. profitability, combined ratio)
Propose solutions to the customer and explain obligations and benefits
Create a balance between interests of customer and the company.
The policy cover, terms and conditions relevant to your work including standard extensions and/or limitations.
Complete sales process and finalize the signing of the contract
Support other sales persons on developing customer solutions
The components of premium calculation
Follow up the contract
Identify own need for continued education and learning
Insurance classes (e.g. household, car, liability, life) for private and/or business customers
Create and establish a professional advisor/advisee relationship with the customers
The customer (risk) profile and behavior
Offer solutions for complex insurance situations
General principles of psychological aspects of buying and selling
Guide colleagues, sub-agents and/or employees in finding solutions and managing customer relation
Sales software and support tools (e.g. databases)
Understand basic claims handling (company regulations, processes, customer obligations, regresses)
Working processes within the company / working organization