Skills & Competencies for Insurance Senior Broker

Insurance Senior Broker job profile

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JOB SUMMARY for Insurance Senior Broker

Develops and markets customer business to different insurance carriers to obtain quotes based on an evaluation and analysis of the customer's insurance needs and requirements.

JOB RESPONSIBILITIES for Insurance Senior Broker

Assesses and negotiates quotes from different carriers based on exposure, risk, and financing. Develops recommendations to advise customers on the best options that will meet their needs and to place and retain the business.

Insurance Senior Broker SALARY RANGE

BASE 50%
$162,302
TOTAL 50%
$178,198
Job Level
P03
Job Code
FA06000961
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Insurance Senior Broker 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 Senior Broker 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 Senior Broker

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 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)
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 -2
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 Senior Broker - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Insurance Senior Broker
Proficiency Level - 4
5 Competency for - Insurance Senior Broker
Proficiency Level - 5

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

1 Job Family Competencies – Customer Satisfaction
Proficiency Level -3
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 -3
Skill definition-Collecting experience and insight information to understand the customers’ needs, wants, and aims.
Level 1 Behaviors
(General Familiarity)
Identifies the methodologies of customer knowledge management in the business.
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Level 2 Behaviors
(Light Experience)
Receives return products to enhance future transactions.
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Level 3 Behaviors
(Moderate Experience)
Follows up with customers to acquire complete satisfaction.
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Level 4 Behaviors
(Extensive Experience)
Makes new changes to the overall process to improve the customer’s experience.
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Level 5 Behaviors
(Mastery)
Develops standard operation processes to build customer knowledge across our organization.
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3 Insurance Senior Broker - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Insurance Senior Broker
Proficiency Level - 4
5 Competency for - Insurance Senior Broker
Proficiency Level - 5

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

1 Core Competencies – Business Acumen
Proficiency Level -3
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)
Explains our key business strategies and priorities.
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Level 2 Behaviors
(Light Experience)
Reports and communicates market and competitor status regularly to the management team.
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Level 3 Behaviors
(Moderate Experience)
Evaluates supply chain efficiency with an eye toward improving shortcomings.
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Level 4 Behaviors
(Extensive Experience)
Leverages the latest technologies and tools that enhance business analytics.
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Level 5 Behaviors
(Mastery)
Designs and implements feedback loops to identify and promptly address business problems.
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2 Core Competencies – Customer Focus
Proficiency Level -3
Skill definition-Aligning business processes with customers’ goals and expectations.
Level 1 Behaviors
(General Familiarity)
Identifies appropriate actions in dealing with client issues.
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Level 2 Behaviors
(Light Experience)
Reviews client constructive feedback about issues and problems encountered.
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Level 3 Behaviors
(Moderate Experience)
Provides recommendations on complex client problems and novel initiatives.
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Level 4 Behaviors
(Extensive Experience)
Facilitates activities that sustain productive customer relationships.
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Level 5 Behaviors
(Mastery)
Establishes best practices to create, evaluate and enhance customer loyalty.
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3 Insurance Senior Broker - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Insurance Senior Broker
Proficiency Level - 4
5 Competency for - Insurance Senior Broker
Proficiency Level - 5

Summary of Insurance Senior Broker skills and competencies

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

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