Will “Financial Representative” be Replaced By Robots? 🤔
92% Chance of Automation
“Financial Representative” will probably be replaced by robots.
This job is ranked #565 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.
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Job Description
Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
Job Details
- The SOC (Standard Occupational Classification) code is 41-3021.00
- The Mean Annual Wage in the U.S. is $ 67,760.00
- The Mean Hourly Wage is $ 32.00
- Currently, there are 385,700 people on this job
☝️ Information based on the reference occupation “Insurance Sales Agents”.
Also Known As…
- Insurance Sales Agents
- Underwriting Sales Representative
- Sales Representative
- Sales Agent
- Producer
- Insurance Sales Agent
- Insurance Broker
- Insurance Agent
- Agent
- Account Manager
- Account Executive
- Surety Bond Agent
- Strategic Account Executive
- Solicitor
- Service Representative
- Selling Underwriter
- Sales Specialist
- Sales Special Agent
- Sales Associate
- Representative
- Policy Writer, Sales
- Placer
- Pension Agent
- Outside Sales Representative
- Organizer
- Network Contractor
- Life Insurance Salesperson
- Life Insurance Agent
- Licensed Insurance Sales Agent
- Insurance Underwriter, Sales
- Insurance Special Agent
- Insurance Solicitor
- Insurance Salesperson
- Insurance Salesman
- Insurance Representative
- Inside Sales Representative
- Home Office Representative
- Health Insurance Specialist
- Health Insurance Sales Agent
- Group Leader
- Group Insurance Specialist
- Group Insurance Special Agent
- Field Service Representative
- Field Representative
- Field Marketing Representative
- Estate Planner
- Enrollment Specialist
- District Sales Coordinator
- District Agent
- Debit Agent
- Customer Service Representative (CSR)
- Contact Worker
- Contact Person
- Compensation Agent
- Commercial Lines Insurance Agent
- Business Account Leader
- Burial Agent
- Broker
- Bond Writer
- Accounts Executive
- Account Specialist
- Account Representative
- Account Leader
Tasks for “Financial Representative”
- Plan and oversee incorporation of insurance program into bookkeeping system of company.
- Confer with clients to obtain and provide information when claims are made on a policy.
- Inspect property, examining its general condition, type of construction, age, and other characteristics, to decide if it is a good insurance risk.
- Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
- Explain necessary bookkeeping requirements for customer to implement and provide group insurance program.
- Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
- Monitor insurance claims to ensure they are settled equitably for both the client and the insurer.
- Select company that offers type of coverage requested by client to underwrite policy.
- Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
- Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
- Develop marketing strategies to compete with other individuals or companies who sell insurance.
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
- Contact underwriter and submit forms to obtain binder coverage.
- Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
- Attend meetings, seminars, and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
- Calculate premiums and establish payment method.
- Perform administrative tasks, such as maintaining records and handling policy renewals.
- Install bookkeeping systems and resolve system problems.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
Related Technology & Tools
- Postage meters
- Pen-based computers
- Laser facsimile machines
- Laptop computers
- Digital cameras
- Laser printers
- Desktop computers
- Personal computers
- Notebook computers
- Advantage Information Systems The Agency Advantage
- Insurance analysis software
- NaviSys Front Office
- Insurance Systems WebWriter BackOffice
- YouTube
- Scheduling software
- Medical procedure coding software
- Insurance Technology Consultants WOW
- AMS Services AMS Sagitta
- Microsoft PowerPoint
- Insurance rating software
- Underwriting software
- Allstar Software Systems Kofax
- Fiserv FSC Manager
- Word processing software
- Online Database Solutions Agent Intelligence
- CoVirt VirtGate
- Microsoft Office
- North American Software Associates Eclipse
- Tritech Financial Systems General Insurance Management System GIMS
- AMS Services AMS 360
- Benefits Technology Group SalesLogix
- Allied Financial Software Act4Advisors
- Insurance Technologies Corporation InsurancePro
- FINEOS Insure
- G2X Agility:Insurance
- LIDP Consulting Services The Administrator
- DORIS FILESERVERonline
- Terrace Consulting AgencyInsight
- Special Agent
- Microsoft Excel
- InStar Orion
- Applied Systems The Agency Manager
- QuickQuote QuickFile Agency Management System
- Skywire Software Policyware
- Cygnus Software IncomeMax
- United Systems and Software Individual Life and Health Administration System
- Microsoft Outlook
- CPU Tracker Software CPU Tracker
- Healthcare common procedure coding system HCPCS
- Microsoft Word
- Results International Systems Artius Suite
- irs-aims MARS
- Insurance Technologies ForeSight Enterprise
- Agency Master
- E-Z Data SmartOffice
- Vulcan Solutions Vulcan Insurance
- Agency Software AgencyPro
- Infospectrum Quick Insure
- Applied Systems Vision
- Tangle S Creations Your Insurance Office
- Agency management software
- Hoffman Computer Systems Amsoft
- Web browser software
- GBS Agency Expert
- Spreadsheet software
- Adobe Systems Adobe AfterEffects
- MI-Assistant MI Management System