The job of a personal lines account manager is to review and process insurance applications to make sure the information they contain is accurate and complete. In addition, they may process applications to make changes to policies, such as reinstating or canceling policies. This includes gathering data on insurance policy changes and changing policy records to align with the client’s specifications. They may also gather data on policies that have lapsed to determine reinstatement according to company policies.
They make sure all applicable regulations are followed, as well as ensuring the application is processed promptly.
Personal lines managers need to be able to respond to questions on a wide variety of topics relating to company policies and take care of issues, problems or complaints that arise with clients. They need to be knowledgeable about state and federal legal guidelines that apply to the insurance industry. These account managers also need to be licensed or certified by the state where they work.
Personal lines managers need to be skilled at building relationships because they are the link between the company and its clients. The job also includes making presentations to different levels of management as well as explaining more complex ideas to general audiences.
They also must be competent at negotiating, since they are responsible for acquiring and servicing new accounts. They need to be good at customer service and have a comprehensive knowledge of insurance coverages and market trends. They must follow proper procedures for handling documents and processing documents on schedule.
Other general skills that personal lines managers need include good written and verbal communication skills, good time management abilities, and knowledge of basic computer programs.
A bachelor’s degree is generally required for the job, and an MBA is often preferred. The average salary for personal lines account managers is about $47,000 a year. Salaries can range from $34,000 to a high of almost $71,000 a year, according to PayScale.com.
If you are an insurance professional, connect with a staffing expert who understands your skills, background and needs. With vast experience in the insurance arena, Insurance Relief works with brokers, carriers and third-party administrators to locate and place the best people for positions ranging from entry level to senior management. We invest the time to truly understand what you want to accomplish, and then do our best to find meaningful opportunities. Give Insurance Relief a call today.