Job description General insurance agent
Find on the general insurance agent job sheet all the useful information about this job: Salary, studies, training, role, general insurance agent job description, the qualities and skills required to work as a general insurance agent. The business general insurance agent is part of the Insurance sector.
Intermediate actor between the insurer and the insured, the general insurance agent is an independent worker, local representative of an insurance company, and mandated by it (under an appointment treaty). He can practice alone or join forces with another representative. More than 80% of general insurance agents employ one or more employees. The profession of general insurance agent focuses on 3 main areas:
- Commercial development: To develop and retain his client portfolio, the general agent must advise his clientele as well as possible. After carrying out a risk diagnosis, it offers its clients the most suitable contracts.
- Contract management: The general agent is also a manager who monitors his contracts, changes them as needed, collects contributions, and intervenes. In the event of a claim, it dispatches an expert and then proceeds to the payment of indemnities. It carries out a constant legal watch on the evolution of insurance legislation.
- The management of the agency: The general insurance agent is at the head of his agency. He is therefore in charge of accounting, business results, human resources management, etc. Well integrated into the local economic fabric (one agent for almost 5,000 inhabitants), general insurance agents operate in an extremely competitive environment, whose legislation is constantly evolving.
To find out more, go to the ROME form “General insurance agent”, associated with the code C1104 on the Pôle Emploi website.
General Insurance Agent salary
What salary and how much does a General Insurance Agent earn?
For the general insurance agent, the salary range goes from 1,500 to more than 10,000 euros gross per month (i.e. approximately between 18,000 and 120,000 euros gross per year). Indeed, working on his account, his remuneration is mainly attached to the commissions he receives on his sales and his management of contracts. In addition, it is up to the general insurance agent to set his fees. For an experienced insurance professional, the asking prices can be very high. For a beginner general insurance agent, the salary is lower because he must develop his clientele and make a name for himself. According to a study by the Observatory of Liberal Activity on the profession of a general insurance agent in 2018, the average salary was 35,770 euros gross (i.e. approximately 3,000 euros gross per month). His remuneration also depends on his turnover and the monthly contributions to be paid. He must also take into account the fixed costs (rent, rental charges, social charges, etc.) and variable costs (travel costs, etc.) which must be added to his monthly expenses. In addition, depending on the status given to its activity, the tax rate is different. In the case where the general insurance agent works on behalf of an insurance company (it is then called an agent of an insurance company), he must pay part of his profits. This commission varies according to the contract signed and the insurance company. social charges, etc., and variables (travel expenses, etc.) which must be added to their monthly expenses. In addition, depending on the status given to its activity, the tax rate is different. In the case where the general insurance agent works on behalf of an insurance company (it is then called an agent of an insurance company), he must pay part of his profits. This commission varies according to the contract signed and the insurance company. social charges, etc., and variables (travel expenses, etc.) which must be added to their monthly expenses. In addition, depending on the status given to its activity, the tax rate is different. In the case where the general insurance agent works on behalf of an insurance company (it is then called an agent of an insurance company), he must pay part of his profits. This commission varies according to the contract signed and the insurance company.
Job General Insurance Agent
Why and how to work as a General Insurance Agent?
Most
- Strong opportunities, in addition to many retirements expected in the coming years.
- There are no standard diplomas, experience and motivation prevail.
The lessers
- The installation and redemption of the client portfolio, which requires a heavy investment, is a critical moment.
Necessary qualities and skills
What qualities and skills are needed to be hired as a General Insurance Agent?
The general agent is above all an independent entrepreneur, with a strong spirit of initiative. It constantly monitors the evolution of the market and the development of its competitors. Possessing very good commercial skills, he is present in all stages of the customer relationship, from prospecting to resolving claims. An excellent manager, he closely monitors his agency’s accounts and perfectly masters its products. Finally, a great sense of relationship is essential to him, both with his customers and prospects (to establish a relationship of trust) and with his potential employees (to motivate them, train them and push them to excellence).
Education and Training
What training and how to become a General Insurance Agent?
A Bac +2, or even a Bac +3/5, of the bancassurance or more generally commercial type (MUC/NRC/Tech’ de Co’) is an interesting basis for entering the profession, but there are no compulsory diplomas. Candidates for this type of position come from a variety of backgrounds (industry, real estate, agriculture, service, etc.), and are very often experienced. More than half of general agents come from another sector. Along with this, general agents must be appointed by an insurance company through the appointment treaty. This treaty can only be signed after obtaining an examination validating a 600-hour internship.
Possible developments
What to do after General Insurance Agent?
The general insurance agent can develop his agency by expanding his range of insurance products or specializing in a complex and specific area (such as maritime transport or construction). The development of the agency is also reflected in hiring. The general agent can also acquire new points of sale, buy other structures or associate with another agent.
