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”
- 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.
- Monitor insurance claims to ensure they are settled equitably for both the client and the insurer.
- Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
- Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
- Attend meetings, seminars, and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
- Perform administrative tasks, such as maintaining records and handling policy renewals.
- Select company that offers type of coverage requested by client to underwrite policy.
- Calculate premiums and establish payment method.
- 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.
- Develop marketing strategies to compete with other individuals or companies who sell insurance.
- Install bookkeeping systems and resolve system problems.
- Explain necessary bookkeeping requirements for customer to implement and provide group insurance program.
- 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.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- 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.
- 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.
Related Technology & Tools
- Desktop computers
- Pen-based computers
- Notebook computers
- Digital cameras
- Laptop computers
- Personal computers
- Laser facsimile machines
- Laser printers
- Postage meters
- United Systems and Software Individual Life and Health Administration System
- Skywire Software Policyware
- CoVirt VirtGate
- Insurance rating software
- Vulcan Solutions Vulcan Insurance
- Online Database Solutions Agent Intelligence
- Insurance analysis software
- Agency Software AgencyPro
- Insurance Technologies ForeSight Enterprise
- Advantage Information Systems The Agency Advantage
- Insurance Systems WebWriter BackOffice
- Hoffman Computer Systems Amsoft
- Microsoft PowerPoint
- Results International Systems Artius Suite
- Tritech Financial Systems General Insurance Management System GIMS
- North American Software Associates Eclipse
- irs-aims MARS
- AMS Services AMS 360
- E-Z Data SmartOffice
- Scheduling software
- Microsoft Office
- Microsoft Excel
- InStar Orion
- Agency Master
- LIDP Consulting Services The Administrator
- Fiserv FSC Manager
- Applied Systems Vision
- Tangle S Creations Your Insurance Office
- Word processing software
- FINEOS Insure
- Spreadsheet software
- Allstar Software Systems Kofax
- Adobe Systems Adobe AfterEffects
- Microsoft Word
- Insurance Technology Consultants WOW
- Infospectrum Quick Insure
- YouTube
- MI-Assistant MI Management System
- Medical procedure coding software
- GBS Agency Expert
- Microsoft Outlook
- Healthcare common procedure coding system HCPCS
- Allied Financial Software Act4Advisors
- Applied Systems The Agency Manager
- Special Agent
- DORIS FILESERVERonline
- Benefits Technology Group SalesLogix
- AMS Services AMS Sagitta
- CPU Tracker Software CPU Tracker
- Agency management software
- QuickQuote QuickFile Agency Management System
- Terrace Consulting AgencyInsight
- Web browser software
- Cygnus Software IncomeMax
- Insurance Technologies Corporation InsurancePro
- G2X Agility:Insurance
- Underwriting software
- NaviSys Front Office