7 hard skills or competencies (industry competencies) for Branch Manager - Insurance
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)
Cites different types of insurance policies and describes the advantages and disadvantages of each.
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Level 2 Behaviors
(Light Experience)
Compiles insurance quotes based on customer information and rates for insurance policies.
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Level 3 Behaviors
(Moderate Experience)
Applies risk management techniques to minimize financial impacts in insurance services.
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Level 4 Behaviors
(Extensive Experience)
Contributes to the development of insurance risk mitigation strategies to drive process improvements.
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Level 5 Behaviors
(Mastery)
Builds claim roadmaps and substantiation plans in compliance with insurance risk management practices.
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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)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
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Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
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Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
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Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
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Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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2 general skills or competencies (Job family competencies) for Branch Manager - Insurance
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)
Compares the difference between market penetration and market development.
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Level 2 Behaviors
(Light Experience)
Assists in identifying opportunities to sell current products in the previously unexplored market.
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Level 3 Behaviors
(Moderate Experience)
Executes market development strategies to drive continuous growth and profitability in the business.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages marketing development strategies to increase our revenue margins.
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Level 5 Behaviors
(Mastery)
Builds control systems to measure the effectiveness of our market development strategy.
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Skill definition-Meeting or exceeding the company’s sales targets for sales functions.
Level 1 Behaviors
(General Familiarity)
Cites examples of best practices used in developing sales strategies.
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Level 2 Behaviors
(Light Experience)
Assists in identifying areas of improvement to streamline the sales processes.
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Level 3 Behaviors
(Moderate Experience)
Analyzes current sales strategy to recommend solutions for improvement.
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Level 4 Behaviors
(Extensive Experience)
Coordinates with the management team to develop sales strategies.
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Level 5 Behaviors
(Mastery)
Builds a sales management capability to inspect the sales process quality.
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11 soft skills or competencies (core competencies) for Branch Manager - Insurance
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)
Compiles a list of basic issues and risks for conducting our budget processes.
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Level 2 Behaviors
(Light Experience)
Applies established guidelines for conducting our budgeting processes.
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Level 3 Behaviors
(Moderate Experience)
Communicates budget objectives and plans to help identify financial trends and create budget forecasts.
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Level 4 Behaviors
(Extensive Experience)
Anticipates organizational income and expenses to make forecasts and develop budget plans.
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Level 5 Behaviors
(Mastery)
Adapts relevant industry trends on techniques in financial budgeting in our organization.
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Skill definition-The identification, evaluation, and prioritization of various risks, followed by controlling practices to minimize any adverse impact.
Level 1 Behaviors
(General Familiarity)
Understands the practical concepts and processes of risk management.
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Level 2 Behaviors
(Light Experience)
Supports risk owners with management of operational risks, including but not limited to risk assessment, risk control, and risk monitoring.
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Level 3 Behaviors
(Moderate Experience)
Researches and suggests enhancements of risk management tools to improve efficiency.
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Level 4 Behaviors
(Extensive Experience)
Monitors the implementation of risk policies and programs to ensure consistency.
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Level 5 Behaviors
(Mastery)
Keeps abreast of market trends and their effect on internal risk management.
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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.