6 hard skills or competencies (industry competencies) for Annuities Director (New Business)
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Describes the current systems and scope of services provided by insurance organizations.
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Level 2 Behaviors
(Light Experience)
Follows industry best practices when preparing reports that detail risk assessment findings in insurance claims.
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Level 3 Behaviors
(Moderate Experience)
Makes necessary adjustments to insurance policies to meet customer needs.
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Level 4 Behaviors
(Extensive Experience)
Handles complex insurance losses through negotiation of favorable claims settlements with insurance companies.
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Level 5 Behaviors
(Mastery)
Develops and establishes risk reduction best practices to prevent fraudulent claims transactions.
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Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Describes the basic structure of insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Complies with insurance legal and regulatory principles to safeguard the rights and interests of the insured.
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Level 3 Behaviors
(Moderate Experience)
Analyzes existing legal and regulatory standards to address errors affecting insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Improves legal procedures for licensing intermediaries or producers to prevent penalties.
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Level 5 Behaviors
(Mastery)
Designs compliance strategies and programs to prevent violations of statutes, regulations, and policies.
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2 general skills or competencies (Job family competencies) for Annuities Director (New Business)
Skill definition-Identifying and developing new market segments for current products to increase revenue margins and support long-term company growth.
Level 1 Behaviors
(General Familiarity)
Explains the role of market research in the market development process.
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Level 2 Behaviors
(Light Experience)
Selects and uses prospecting tools in identifying new market leads.
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Level 3 Behaviors
(Moderate Experience)
Utilizes industry-specific tools to manage our market development strategy effectively.
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Level 4 Behaviors
(Extensive Experience)
Manages the execution of sales enablement packages to support our market development programs.
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Level 5 Behaviors
(Mastery)
Develops and implements a promotional strategy to penetrate the new market.
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Skill definition-Building and cultivating long-term customer loyalty and engagement to establish brand connections, generate leads, and drive business growth.
Level 1 Behaviors
(General Familiarity)
Explains the importance of relationship marketing to generate sales.
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Level 2 Behaviors
(Light Experience)
Logs and reports complaints of customers in support of relationship marketing.
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Level 3 Behaviors
(Moderate Experience)
Initiates strategic marketing activities to build and strengthen customer relationships.
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Level 4 Behaviors
(Extensive Experience)
Monitors the performance of relationship marketing efforts to achieve objectives.
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Level 5 Behaviors
(Mastery)
Establishes influential relationships to boost customer engagement.
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13 soft skills or competencies (core competencies) for Annuities Director (New Business)
Skill definition-Applying business intelligence to monitor and manage overall business performance towards goals.
Level 1 Behaviors
(General Familiarity)
Lists the key elements of a strategic business performance management system.
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Level 2 Behaviors
(Light Experience)
Maintains open communication with leaders and stays receptive to unit's performance feedback.
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Level 3 Behaviors
(Moderate Experience)
Handles past performance review, business practices evaluation, and potential solutions research.
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Level 4 Behaviors
(Extensive Experience)
Monitors a business performance system to manage all financial processes.
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Level 5 Behaviors
(Mastery)
Outlines observations and recommendations for improving operational and financial performance.
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Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Explains the importance of budget reporting and forecasting in our workplace.
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Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
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Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
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Level 4 Behaviors
(Extensive Experience)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
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Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
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Summary of Annuities Director (New Business) skills and competencies
There are 6 hard skills for Annuities Director (New Business), Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
2 general skills for Annuities Director (New Business), Market Development, Relationship Marketing.
13 soft skills for Annuities Director (New Business), Business Performance Management, Budgeting, Planning and Organizing, etc.
While the list totals 21 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Annuities Director (New Business), he or she needs to be skilled in Business Performance Management, be skilled in Budgeting, and be skilled in Planning and Organizing.