Skills & Competencies for Branch Manager - Insurance

Branch Manager - Insurance job profile

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JOB SUMMARY for Branch Manager - Insurance

Manages the daily activities of the branch office, with duties such as insurance claim processing (home, auto, life, mortgage, etc.), marketing, auditing, loss prevention, and underwriting.

JOB RESPONSIBILITIES for Branch Manager - Insurance

Hires, trains, and monitors the performance of new insurance agents. Provides updates to the regional manager regarding operating results, insurance trends, and competitor methods. May provide guidance on more complex issues. Develops new business through selling and marketing activities.

Branch Manager - Insurance SALARY RANGE

BASE 50%
$127,561
TOTAL 50%
$143,995
Job Level
M03
Job Code
FA06000207
Education/Degree
Bachelor's Degree
Reports To
Regional Manager

Branch Manager - Insurance Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Branch Manager - Insurance skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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7 hard skills or competencies (industry competencies) for Branch Manager - Insurance

1 Industry Competency – Insurance Industry
Proficiency Level -3
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 processes and rate standards for calculating the amount for insurance claims.
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Level 2 Behaviors
(Light Experience)
Gathers clients' financial information for the preparation of insurance contracts.
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Level 3 Behaviors
(Moderate Experience)
Performs thorough investigation and analysis of insurance claims to prevent fraudulent activities.
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Level 4 Behaviors
(Extensive Experience)
Leads the digitization and automation of insurance-related services to drive business transformation.
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Level 5 Behaviors
(Mastery)
Develops loss control practices to reduce financial exposure and risks in insurance operations.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -3
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 importance of compliance programs in maintaining an insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
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Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
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Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
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3 Branch Manager - Insurance - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Branch Manager - Insurance
Proficiency Level - 4
5 Competency for - Branch Manager - Insurance
Proficiency Level - 5

2 general skills or competencies (Job family competencies) for Branch Manager - Insurance

1 Job Family Competencies – Market Development
Proficiency Level -3
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 concepts and principles of market development.
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Level 2 Behaviors
(Light Experience)
Documents and reports the market development opportunities to senior management.
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Level 3 Behaviors
(Moderate Experience)
Uses market development strategies to identify new opportunities in promoting business products.
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Level 4 Behaviors
(Extensive Experience)
Delivers key market development strategies to drive brand awareness across various platforms.
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Level 5 Behaviors
(Mastery)
Creates a product development roadmap to optimize the trade-off between customer value and time to market.
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2 Job Family Competencies – Sales Management
Proficiency Level -3
Skill definition-Meeting or exceeding the company’s sales targets for sales functions.
Level 1 Behaviors
(General Familiarity)
Describes the basic concepts and components of sales management.
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Level 2 Behaviors
(Light Experience)
Documents all the sales call information in the customer relationship management system.
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Level 3 Behaviors
(Moderate Experience)
Facilitates monthly sales pipeline reviews to provide a reliable view of sales opportunities.
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Level 4 Behaviors
(Extensive Experience)
Directs the sales to achieve overall growth and hit sales targets.
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Level 5 Behaviors
(Mastery)
Conceptualizes innovative ways to market products and services.
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3 Branch Manager - Insurance - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Branch Manager - Insurance
Proficiency Level - 4
5 Competency for - Branch Manager - Insurance
Proficiency Level - 5

11 soft skills or competencies (core competencies) for Branch Manager - Insurance

1 Core Competencies – Budgeting
Proficiency Level -3
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)
Describes the concepts and principles of budgeting operations.
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Level 2 Behaviors
(Light Experience)
Assists in developing and improving budgeting models, plans, and strategies.
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Level 3 Behaviors
(Moderate Experience)
Compares planned budgets vs. actual expenditures, identifies, reports, and explains variances.
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Level 4 Behaviors
(Extensive Experience)
Determines system capabilities and needs to improve the process for financial budgeting.
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Level 5 Behaviors
(Mastery)
Develops financial models to support the strategic improvement of our budgeting processes.
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2 Core Competencies – Risk Management
Proficiency Level -4
Skill definition-The identification, evaluation, and prioritization of various risks, followed by controlling practices to minimize any adverse impact.
Level 1 Behaviors
(General Familiarity)
Illustrates the necessity and benefits of active risk management.
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Level 2 Behaviors
(Light Experience)
Compiles and maintains risk management documents to reflect the latest policies.
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Level 3 Behaviors
(Moderate Experience)
Escalates significant risks to the appropriate management to address issues.
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Level 4 Behaviors
(Extensive Experience)
Creates and updates standard operating procedures (SOP) to improve risk management efficiency and effectiveness.
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Level 5 Behaviors
(Mastery)
Constructs risk management metrics to monitor, evaluate, and improve effectiveness.
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3 Branch Manager - Insurance - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Branch Manager - Insurance
Proficiency Level - 4
5 Competency for - Branch Manager - Insurance
Proficiency Level - 5

Summary of Branch Manager - Insurance skills and competencies

There are 7 hard skills for Branch Manager - Insurance, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
2 general skills for Branch Manager - Insurance, Market Development, Sales Management.
11 soft skills for Branch Manager - Insurance, Budgeting, Risk Management, Planning and Organizing, etc.
While the list totals 20 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 Branch Manager - Insurance, he or she needs to be skilled in Budgeting, be skilled in Risk Management, and be skilled in Planning and Organizing.

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