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)
Defines the key terminologies and components of an insurance policy.
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Level 2 Behaviors
(Light Experience)
Enters new information about insurance premiums and payments to update insurance policy records.
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Level 3 Behaviors
(Moderate Experience)
Identifies cost-effective solutions to address regulatory compliance challenges in insurance services.
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Level 4 Behaviors
(Extensive Experience)
Facilitates discussions with agents and underwriters on evolving exposures and risk management practices.
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Level 5 Behaviors
(Mastery)
Designs and executes innovative strategies and techniques to optimize the claims-handling process.
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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)
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 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)
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)
Constructs innovative solutions and effective interventions to drive 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)
Documents the ways to collect customer knowledge like interviews, focus groups, and social media.
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Level 2 Behaviors
(Light Experience)
Conducts customer satisfaction surveys to learn about the consumers' experience with the company.
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Level 3 Behaviors
(Moderate Experience)
Analyzes consumer data information to make changes to marketing strategies.
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Level 4 Behaviors
(Extensive Experience)
Leads the consumer journey mapping to oversee the business from the customer's perspective.
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Level 5 Behaviors
(Mastery)
Builds training modules about the methods to consolidate data and information regarding customer knowledge.
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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 the market conditions that impact the business.
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Level 2 Behaviors
(Light Experience)
Collects and compiles competitor information for competitive analysis.
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Level 3 Behaviors
(Moderate Experience)
Applies technical expertise, business sense, and product knowledge to manage the product lifecycle effectively.
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Level 4 Behaviors
(Extensive Experience)
Coordinates technical and business teams to solve complex and diverse customer problems.
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Level 5 Behaviors
(Mastery)
Builds strong business partnerships internally and externally to drive "win-win" business successes.
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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)
Describes the impact of avoiding overcommitments in dealing with customer concerns.
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Level 2 Behaviors
(Light Experience)
Enters clients' issues into the customer database systems.
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Level 3 Behaviors
(Moderate Experience)
Communicates information with customers to build their understanding of issues and capabilities.
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Level 4 Behaviors
(Extensive Experience)
Delivers training to employees to provide outstanding experiences for customers.
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Level 5 Behaviors
(Mastery)
Creates procedures and methods for monitoring and evaluating customer concerns, issues, and satisfaction.
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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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