The basic professional requirements for insurance company professionals

The basic professional requirements for insurance company professionals

 

The insurance company is a financial company, whose activities may be  provide the following financial services: insurance, reinsurance and other financial activities related to the formation, placement of insurance reserves and their management. For the effective functioning of any insurance company in the insurance market, the critical importance of a level of professionalism of its staff.

 

In this paper, we want to elaborate on the basic professional requirements for the different specialists of the insurance company that will be useful for HR companies, managers of insurance companies and recruitment specialists to the insurance company.

 

As with any other company, a key role in the insurance company has its Head.

 

Detailed look at how professional he must meet to the requirements.

 

                              The head of an insurance company
 

The basic professional requirements to be met by a candidate for the head position of the insurance company, are as follows:

 

·        A candidate for the post of head of the insurance company must have completed higher education (educational-qualification level of specialists, MA);

·        undergo training and pass an examination for compliance with professional knowledge of the requirements for a model program that was made in the direction of the financial institution and approved by the Financial Services Commission. The duration of a refresher course must be at least 72 hours;

·        have not less than 5 years of general experience of work, of which: experience in leadership positions for at least two years, in particular, at least one year in the markets of financial services;

·        over the past five years not to be a leader, chief financial officer or chief accountant of the financial institution, declared bankrupt, been subjected to the procedure of compulsory liquidation, or which was used a measure of the impact of the relevant authority that regulates the financial services markets, in the form of removal from the leadership of the financial institution and the appointment of an interim administration;

·        have no outstanding criminal convictions for premeditated crimes, crimes in the sphere of economic and service activities, and not to be denied the right to hold certain posts or engage in certain activities.

 

 

Head of Insurance Department

 

Functional responsibilities as chief of the department of insurance depends on the variety of insurance products and corporate provisions of the insurance company, but to help the HR manager of the insurance companies and recruiters to the insurance company, we still try to bring the most in common with them.

 

To the head of department of insurance company professionally and efficiently fulfil its responsibilities, which include, in part, the following:

 

·        participation in the development of insurance products of insurance companies;

·        performance analysis of insurance products and programs, training

·        proposals for their modernization and improvement;

·        participate in training personnel on underwriting and pre-insurance examinations;

·        matching-limit insurance contracts and insurance contracts with individual underwriting

·        participate in the validation of the conclusion of contractual relations specialists

·        execution of sales plans, the insurance company

·        involved in the planning and organization of corporate sales offices;

·        Head of insurance department  should carry out the execution plans of corporate sales;

·        realize interaction with all business units;

·        make the promotion of insurance products and the progressive building up its customer base and insurance portfolio of corporate sales;

·        improve the culture and service quality in functionally subordinate units;

·        implementation and coordination of negotiating with potential clients and partners for the provision of insurance services and the conclusion of cooperation agreements;

·        control of database entities accountable to the insurance company;

·        Head of Insurance Department should be involved in the selection of personnel for key positions in corporate sales;

 

It must meet certain professional criteria, which we refer:

 

·        higher education (higher priority  the economic or legal);

·        orientation in the insurance products that are offered to the market of insurance;

·        excellent knowledge of the insurance legislation (we recommend testing at the interview)

·        availability of insurance portfolio is an advantage for a candidate for the post of chief of the department of insurance;

·        availability of managerial experience;

·        high organizational and communication skills.

 

Head of Reinsurance Department

 

The basic criteria for professional search and selection of chief of reinsurance is:

 

·        availability of higher education;

·        the presence of positive recommendations from previous jobs;

·        Experience of working with Western reinsurers;

·        orientation in the construction of an optimal reinsurance protection;

·        knowledge of the insurance legislation of Ukraine (recommend testing at the interview);

·        ability to arrange for reinsurance bordereau;

·        knowledge of standard contracts and reinsurance optional (we recommend testing at the interview), 

·        English language proficiency is a plus for a candidate for the post of Head of Reinsurance;

·        high analytical and organizational abilities.

 

In accordance to these criteria can be assumed that such a candidate to cope successfully with the basic responsibilities of the position of the functional head of reinsurance to which we refer:

 

·        Administration obligatory reinsurance contracts;

·        reporting;

·        preparation of requests for quotas optional risks, if necessary, translating documents into English;

·        provision of the necessary documents for foreign currency accounts with foreign partners;

·        organization of documents and payments under contracts of reinsurance;

·        maintaining a database of reinsurance contracts;

·        communication with the reinsurers.

 

Professional personnel in the insurance company is the key to its success and securing its leading position in the insurance market. Therefore, the quality of recruitment must have the highest level. We recommend that you use a professional approach to the issue of building professionals in the insurance company and contact with services and assistance of experts in the field of recruiting.