6 hard skills or competencies (industry competencies) for Broker Relations Representative
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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3 general skills or competencies (Job family competencies) for Broker Relations Representative
Skill definition-Attracting, retaining, and converting customers into loyal buyers to reduce attrition, increase ROI, and acquire new customers.
Level 1 Behaviors
(General Familiarity)
Describes an effective customer lifecycle used in the retention of customer base.
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Level 2 Behaviors
(Light Experience)
Documents the value drivers and key metrics in customer retention.
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Level 3 Behaviors
(Moderate Experience)
Checks formulas used in calculating customer retention rates to ensure accuracy of data.
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Level 4 Behaviors
(Extensive Experience)
Enhances creative assets to boost customer retention within existing and new partnerships.
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Level 5 Behaviors
(Mastery)
Builds strategic plans to highlight and address concerns of customer retention.
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Skill definition-Collecting, analyzing, and measuring satisfaction levels of customers to improve our business's service and products.
Level 1 Behaviors
(General Familiarity)
Describes methods used in collecting and analyzing customer satisfaction data.
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Level 2 Behaviors
(Light Experience)
Assists in creating questions to surveys to identify customer satisfaction levels.
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Level 3 Behaviors
(Moderate Experience)
Communicates with customers to establish positive interactions and maintain a high level of satisfaction.
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Level 4 Behaviors
(Extensive Experience)
Delivers superior customer service to optimize customer satisfaction scores.
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Level 5 Behaviors
(Mastery)
Develops customer service strategies to attain positive impacts on customer satisfaction.
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6 soft skills or competencies (core competencies) for Broker Relations Representative
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Explains why attention to detail plays an important role in own function or unit.
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Level 2 Behaviors
(Light Experience)
Processes limited amounts of detailed information with reasonable accuracy.
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Level 3 Behaviors
(Moderate Experience)
Processes large quantities of detailed information with high levels of accuracy.
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Level 4 Behaviors
(Extensive Experience)
Demonstrates expertise in quality assurance tools, techniques, and standards.
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Level 5 Behaviors
(Mastery)
Designs techniques for measuring the cost and impact of errors.
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Skill definition-Managing and setting priorities, goals, and timetables to boost productivity and efficiency in completing tasks.
Level 1 Behaviors
(General Familiarity)
Describes how to utilize a time management matrix for efficient completion of most important tasks.
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Level 2 Behaviors
(Light Experience)
Applies principles, habits, and skills in organizing schedules to manage time productively.
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Level 3 Behaviors
(Moderate Experience)
Demonstrates a willingness to abandon tasks or projects that prove to be of little value to the business.
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Level 4 Behaviors
(Extensive Experience)
Develops best techniques and methods to improve time management throughout our business.
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Level 5 Behaviors
(Mastery)
Designs tools to efficiently organize and keep track of tasks in progress to boost productivity.
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Summary of Broker Relations Representative skills and competencies
There are 6 hard skills for Broker Relations Representative, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
3 general skills for Broker Relations Representative, Customer Retention, Customer Satisfaction, Customer Support.
6 soft skills for Broker Relations Representative, Attention to Detail, Time Management, Initiative, etc.
While the list totals 15 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 Broker Relations Representative, he or she needs to be proficient in Attention to Detail, be proficient in Time Management, and be proficient in Initiative.