Analytical skills
Insurance Agents must evaluate the characteristics of each client to determine the appropriate insurance policy.
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
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 Authority
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
Higher Diploma
Professional Diploma/ Certificate
Skill Enhancement Courses
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.
