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Insurance Agents

Descriptions & Duties

  • Insurance Agents identify prospective clients to acquire new business and serve existing policyholders.

Generic Competencies

Physical Abilities

Physical abilities

  • Physical strength
  • Eye hand coordination / precision / dexterity

 

Importance:1 (Max:5) 

Skill is rarely required

 

Technology Skills

Technology skills

  • Computer literacy
  • Application of technology

 

Importance:3 (Max:5) 

Skill is basically required

 

Cognitive Abilities

Cognitive abilities

  • Creativity
  • Visualisation
  • Logical thinking

 

Importance:3 (Max:5) 

Skill is basically required

 

Comprehension And Expression

Comprehension and expression skills

  • Reading comprehension
  • Oral / written expression

 

Importance:3 (Max:5) 

Skill is basically required

 

Social Skills

Social skills

  • Communication
  • Negotiation
  • Persuasion

 

Importance:5 (Max:5) 

Skill is required all the time

 

Organisation And Execution Skills

Organisation and execution skills

  • Planning
  • Organising
  • Judgement
  • Decision making

 

Importance:3 (Max:5) 

Skill is basically required

 

Problem Solving Skills

Problem solving skills

  • Ability to solve simple and complex problems effectively and efficiently

 

Importance:3 (Max:5) 

Skill is basically required

 

Management Skills

Management skills

  • Leadership
  • Management of finance / time / people / other resources

 

Importance:2 (Max:5) 

Skill is occasionally required

 

Trade Specific Competencies

Analytical skills

Insurance Agents must evaluate the characteristics of each client to determine the appropriate insurance policy.

Initiative

Insurance Agents need to actively find new customers to maintain a flow of commissions.

Self-confidence

Insurance Agents should be confident when making "cold" calls (calls to prospective customers who have not been contacted before) . They must speak clearly and persuasively.

General Requirements

Academic qualification

  • generally have secondary school education or above

Professional qualification

  • must pass the Insurance Intermediaries Qualifying Examination (IIQE) for Insurance Intermediaries

Experience

  • are required to be appointed by an insurer and registered with the Insurance Agents Registration Board ("IARB") set up by The Hong Kong Federation of Insurers ("HKFI")

Other specific requirements

  • usually some telesales/ customer services experience are preferable.

Career Path & Salary

Private Sector

Monthly Salary $20,000-$30,000

Monthly Salary $30,000-$40,000

Monthly Salary $60,000-$80,000

Monthly Salary > $100,000

Related Education & Training

Work Environment

  • Insurance Agents typically work in offices. Although they may spend time traveling to meet with clients, they usually determine their own hours of work and often schedule evening and weekend appointments for the convenience of clients. They may meet with clients during business hours and then spend their evenings doing paperwork and preparing presentations to prospective clients.

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