An account manager mostly works in the insurance industry and is involved in the acqusition and maintenance of new accounts.
Account handlers are also known as account managers. The account handler is responsible for the development and maintenance of business accounts in an insurance firm. His job mainly involves the acquisition and maintenance of new accounts. The account handler is also responsible for increasing policy sales of the organization.
Responsibilities and Duties
The account handler meets with independent financial advisors (IFAs) and insurance brokers and pitches the company’s policies to them. When an agreement is reached, the account handler is responsible for the maintenance of a good working relationship between the employer and the broker or IFA.
The account handler also monitors policy sales. She designs new policies and works with the underwriters to adapt policies for the market.
Other responsibilities include the preparation of marketing literature and ensuring that IFAs and insurance brokers meet the Financial Services Authority (FSA) rules. In the case of the introduction of new policies, the account handler oversees the establishment of a claims handling team and a support center to which clients can forward their queries.
Working Conditions
The account handler’s day typically begins at 9 a.m. and ends at 5 p.m. The job is mostly office-based. However, working outside of regular hours is common. This may involve activities such as having dinner with potential account owners and visiting existing account owners. Some account handlers work from the comfort of their homes with occasional field visits to check on existing and potential accounts.
Education
Many firms provide on-the-job training for account handlers who may not have any experience in the field. Such firms only require that trainees or applicants have good SAT scores. However, with the current increased level of competition for employment, firms are seeking individuals with at least a bachelor’s degree. A degree in finance, business administration, economics or any related field is an added advantage. The Chartered Insurance Institute (CII) offers courses for those wishing to specialize in this field. The courses include certificate, diploma and advanced diploma in insurance.
Desirable Skills and Attributes
The success of the account handler is dependent on having good interpersonal skills, especially the ability to communicate well. He should be able to make good presentations and have good networking skills. The account handler should have well-developed negotiation skills as well as a knack for sales. To succeed in an industry driven by the need to meet targets, the account handler should be highly motivated and have the drive to meet and surpass targets. An account manager should be able to collect information, analyze it and draw useful conclusions. He should be able to use this information to help employers make critical decisions.
Salary
Account handler salaries depend on factors like location, industry, experience, etc.
Account handlers get an average salary of $38,709 to $64,407 per year as of July 2010, according to PayScale.com.
Related Jobs
Jobs related to account handler jobs include insurance consultant jobs, insurance broker jobs, independent financial adviser jobs, insurance consultant jobs and insurance adviser jobs.
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