claims procedures
The different procedures that are used to formally request a payment for a suffered loss from an insurance company.
Insurance agency managers coordinate and oversee the operations of an institution or a branch of an institution that offers insurance services. They provide clients with advice on insurance products.
Competences and skills
63 ESCO relationsEssential knowledge 12 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
3 competencescorporate social responsibility
The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.
green
principles of insurance
The understanding of the principles of insurance, including third party liability, stock and facilities.
Cross-sector
9 competencesaccounting techniques
The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
business management principles
Principles governing business management methods such as strategy planning, methods of efficient production, people and resources coordination.
financial analysis
The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.
financial management
The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.
financial statements
The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
insurance law
The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.
insurance market
The trends and major driving factors in the insurance market, insurance methodologies and practices, and the identification of the major stakeholders in the insurance sector.
tax legislation
Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
types of insurance
The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.
Essential skills and competences 23 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
3 competencescalculate insurance rate
Gather information on the client's situation and calculate their premium on the basis of various factors such as their age, the place where they live and the value of their house, property and other relevant assets.
compile statistical data for insurance purposes
Produce statistics on potential risks such as natural and technical disasters and production downtimes.
create underwriting guidelines
Create guidelines for the assessment of risks and determining whether acceptance of liability and granting payments is worth the risk for the organisation. Develop improved methods of analysis which ensure that all aspects of the underwriting process are examined.
Cross-sector
20 competencesadvise on financial matters
Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
align efforts towards business development
Synchronise the efforts, plans, strategies, and actions carried out in departments of companies towards the growth of business and its turnover. Keep business development as the ultimate outcome of any effort of the company.
analyse financial performance of a company
Analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external information of the market.
analyse market financial trends
Monitor and forecast the tendencies of a financial market to move in a particular direction over time.
apply technical communication skills
Explain technical details to non-technical customers, stakeholders, or any other interested parties in a clear and concise manner.
build business relationships
Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.
control financial resources
Monitor and control budgets and financial resources providing capable stewardship in company management.
coordinate operational activities
Synchronise activities and responsibilities of the operational staff to ensure that the resources of an organisation are used most efficiently in pursuit of the specified objectives.
create a financial plan
Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
create insurance policies
Write a contract that includes all the necessary data, such as the insured product, the payment to be made, how often the payment is needed, the personal details of the insured and on what conditions the insurance is valid or invalid.
enforce financial policies
Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.
ensure compliance with company regulations
Guarantee that employees' activities follow company regulations, as implemented through client and corporate guidelines, directives, policies and programmes.
follow company standards
Lead and manage according to the organisation's code of conduct.
identify clients' needs
Identify the areas in which the client may require aid and investigate the possibilities for meeting those needs.
liaise with managers
Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.
make strategic business decisions
Analyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the options and alternatives to a challenge and make sound rational decisions based on analysis and experience.
manage contracts
Negotiate the terms, conditions, costs and other specifications of a contract while making sure they comply with legal requirements and are legally enforceable. Oversee the execution of the contract, agree on and document any changes in line with any legal limitations.
manage staff
Manage employees and subordinates, working in a team or individually, to maximise their performance and contribution. Schedule their work and activities, give instructions, motivate and direct the workers to meet the company objectives. Monitor and measure how an employee undertakes their responsibilities and how well these activities are executed. Identify areas for improvement and make suggestions to achieve this. Lead a group of people to help them achieve goals and maintain an effective working relationship among staff.
provide cost benefit analysis reports
Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.
strive for company growth
Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.
Optional knowledge 1 competence
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
0 competencesNo competences in this bucket.
Cross-sector
1 competencecontract law
The field of legal principles that govern written agreements between parties concerning the exchange of goods or services, including contractual obligations and termination.
Optional skills and competences 27 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
9 competencesadvise on investment
Assess the customer's economic goals and advise on the possible financial investments or capital investments to promote wealth creation or safeguarding.
analyse claim files
Check the claim from a customer and analyse the value of the lost materials, buildings, turnover or other elements, and judge the responsibilities of the different parties.
decide on insurance applications
Assess applications for an insurance policy, taking into account the risk analyses and client information, in order to deny or approve the application and set in motion the necessary procedures following the decision.
estimate damage
Estimate damage in case of accidents or natural disasters.
lead claim examiners
Select claim examiners and assign them to cases, assist them and give them advice or information when needed.
manage claim files
Follow up on the progress of a claim file, keep all parties informed of the status of the file, ensure the customer receives the damages owed, treat any problems or complaints from customers, close the file and give information to an authorised person or department when there is suspicion of fraud.
produce materials for decision making
Compile relevant data, write reports and occasionally prepare presentations to communicate information that will help the business management team to take decisions.
review insurance process
Analyse all documentation related to a specific insurance case in order to ensure that the application for insurance or the claims process was handled according to guidelines and regulations, that the case will not pose significant risk to the insurer or whether claims assessment was correct, and to assess the further course of action.
sell insurance
Sell insurance products and services to customers, such as health, life or car insurance.
Cross-sector
18 competencesanalyse business plans
Analyse the formal statements from businesses which outline their business goals and the strategies they set in place to meet them, in order to assess the feasibility of the plan and verify the business' ability to meet external requirements such as the repayment of a loan or return of investments.
analyse insurance needs
Gather information about the insurance needs of a client, and give information and advice about all possible insurance options.
analyse insurance risk
Analyse the probability and size of the risk that is to be insured, and estimate the value of the insured property of the client.
check accounting records
Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.
coordinate marketing plan actions
Manage the overview of the marketing actions such as the marketing planning, internal financial resource granting, advertising materials, implementation, control, and communication efforts.
create cooperation modalities
Prepare, determine and agree on the conditions for cooperation contracts with a company, by comparing products, following evolutions or shifts in the market and negotiating terms and prices.
make investment decisions
Determine whether to buy or sell financial products such as fonds, bonds or stocks in order to enhance profitability and to reach the best performance.
manage contract disputes
Monitor issues that arise between the parties involved in a contract and provide solutions in order to avoid lawsuits.
manage financial risk
Predict and manage financial risks, and identify procedures to avoid or minimise their impact.
obtain financial information
Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
organise a damage assessment
Organise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.
perform market research
Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.
plan health and safety procedures
Set up procedures for maintaining and improving health and safety in the establishment or workplace.
plan marketing campaigns
Develop a method to promote a product through different channels, such as television, radio, print and online platforms, social media with the aim to communicate and deliver value to customers.
digital
recruit employees
Hire new employees by scoping the job role, advertising, performing interviews and selecting staff in line with company policy and legislation.
- Scope note
- It may include recruiting volunteers.
represent the organisation
Act as representative of the institution, company or organisation to the outside world.
supervise accounting operations
Coordinate, commission, and monitor operations in accounting departments in order to ensure the accurate record and eventual reporting of the financial operations of the company.
synthesise financial information
Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.