Skills & Competencies for Insurance Broker Trainee

Insurance Broker Trainee job profile

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JOB SUMMARY for Insurance Broker Trainee

Participates in career training program to learn insurance brokerage and placement.

JOB RESPONSIBILITIES for Insurance Broker Trainee

Assists with account servicing and renewals of existing insurance business. Supports brokers in the marketing of customer business to different insurance carriers to obtain quotes. Collects, prepares, and processes data required to maintain and service accounts.

Insurance Broker Trainee SALARY RANGE

BASE 50%
$71,363
TOTAL 50%
$72,135
Job Level
P01
Job Code
FA06000959
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Insurance Broker Trainee 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 Insurance Broker Trainee skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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5 hard skills or competencies (industry competencies) for Insurance Broker Trainee

1 Industry Competency – Insurance Industry
Proficiency Level -1
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)
Examines insurance applications and letters from clients to determine necessary policy changes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates existing claims handling process to identify fraud and opportunities for optimization of outcomes.
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Level 5 Behaviors
(Mastery)
Champions the adoption of AI and automation technologies to streamline insurance operations.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -1
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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3 Insurance Broker Trainee - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Insurance Broker Trainee
Proficiency Level - 4
5 Competency for - Insurance Broker Trainee
Proficiency Level - 5

3 general skills or competencies (Job family competencies) for Insurance Broker Trainee

1 Job Family Competencies – Customer Satisfaction
Proficiency Level -2
Skill definition-Collecting, analyzing, and measuring satisfaction levels of customers to improve our business's service and products.
Level 1 Behaviors
(General Familiarity)
Cites the best practices used in improving customer satisfaction.
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Level 2 Behaviors
(Light Experience)
Adheres to our policies in providing customer satisfaction.
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Level 3 Behaviors
(Moderate Experience)
Analyzes survey results to identify opportunities in improving customer service and satisfaction.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages KPIs to measure the effectiveness of customer satisfaction.
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Level 5 Behaviors
(Mastery)
Champions the adoption of digital analytics to measure customer satisfaction.
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2 Job Family Competencies – Knowledge of Customers
Proficiency Level -1
Skill definition-Collecting experience and insight information to understand the customers’ needs, wants, and aims.
Level 1 Behaviors
(General Familiarity)
Describes the concepts and principles in customer knowledge management.
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Level 2 Behaviors
(Light Experience)
Collects customer insights and competitive intelligence through customer interviews.
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Level 3 Behaviors
(Moderate Experience)
Analyzes all the processes and procedures for customer interactions to recommend future improvements.
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Level 4 Behaviors
(Extensive Experience)
Implements engaging activities that create lifetime customers.
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Level 5 Behaviors
(Mastery)
Adapts to emerging customer knowledge strategies to lead in consumer acquisition.
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3 Insurance Broker Trainee - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Insurance Broker Trainee
Proficiency Level - 4
5 Competency for - Insurance Broker Trainee
Proficiency Level - 5

8 soft skills or competencies (core competencies) for Insurance Broker Trainee

1 Core Competencies – Business Acumen
Proficiency Level -1
Skill definition-Insight into our organization's business, goals, and values. Ability to design and implement initiatives that facilitate successful outcomes.
Level 1 Behaviors
(General Familiarity)
Describes how our business makes money and our key business objectives.
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Level 2 Behaviors
(Light Experience)
Assists in designing business models and operating plans.
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Level 3 Behaviors
(Moderate Experience)
Analyses the business impact of demographic changes; suggests effective responses.
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Level 4 Behaviors
(Extensive Experience)
Consults on the selection and adjustment of the go-to-market strategy.
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Level 5 Behaviors
(Mastery)
Builds a mentoring model to ensure a continuous increase of business sense within our business.
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2 Core Competencies – Customer Focus
Proficiency Level -2
Skill definition-Aligning business processes with customers’ goals and expectations.
Level 1 Behaviors
(General Familiarity)
Cites different customer preferences and requests to configure products to customer liking.
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Level 2 Behaviors
(Light Experience)
Applies the principles of maintaining a customer-focused environment to meet service standards.
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Level 3 Behaviors
(Moderate Experience)
Audits the services provided to clients to ensure they meet client needs.
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Level 4 Behaviors
(Extensive Experience)
Anticipates clients' upcoming needs and concerns to prevent potential issues.
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Level 5 Behaviors
(Mastery)
Champions new tools and techniques for anticipating clients' upcoming needs and concerns.
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3 Insurance Broker Trainee - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Insurance Broker Trainee
Proficiency Level - 4
5 Competency for - Insurance Broker Trainee
Proficiency Level - 5

Summary of Insurance Broker Trainee skills and competencies

There are 5 hard skills for Insurance Broker Trainee, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
3 general skills for Insurance Broker Trainee, Customer Satisfaction, Knowledge of Customers, Prospecting.
8 soft skills for Insurance Broker Trainee, Business Acumen, Customer Focus, Time Management, etc.
While the list totals 16 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 Insurance Broker Trainee, he or she needs to be proficient in Business Acumen, be proficient in Customer Focus, and be proficient in Time Management.

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