In the world of insurance, insurance maintenance technicians play vital roles. These individuals provide support and backup for all types of insurance work. In addition to these roles, they also perform administrative and clerical activities, which include record updates, regular correspondence, and enquiry handling. They relate with clients through the phone, letter, email or in person.
Insurance maintenance technicians are categorized into three groups, namely:
- Claims Technicians
- Broker Technicians
- Underwriting or Processing Technicians
These individuals handle claim payments between the insurance company and the policyholder. Their roles include the following:
- Claims technicians issue a claim form or request the details of the claim issued to the policyholder through the phone.
- They go through the details of the claim and ensure that there is a policy coverage on the claim and payment of the premium.
- This step involves requesting for evidence like photographs displaying the jewellery or property valuation, receipts, or other related items.
- If needed, more information may be requested from the policyholder.
- Should there be a set limit on the claim, then the claims technician will make arrangements for prompt payments. However, such claims must be direct and within the standard policy terms.
Broker technicians are individuals that work for insurance brokers. The brokers are middlemen between those that seek insurance policies and the companies that provide them. Their roles include:
- Providing information on the importance of insurance and the coverage available.
- Explore and scrutinize claim forms and proposals and ensure that the broker is supplied with all necessary information.
- They get in touch with policyholders to vet or clarify the information on their claim form or proposal and request for more information if needed.
- Update policyholders on the progress of their claims.
Underwriting Or Processing Technicians
Underwriting or processing technicians handle requests for insurance. They play certain roles which include the following:
- When a potential customer or broker submit a request for insurance to the insurance company, the underwriting or processing technician studies the proposal form.
- They request for more information from the customer or broker if needed.
- Should the risk be straightforward, the technician quotes the premium using the standard rates.
- For complicated risks, they are being passed on by these individuals to more professional and experienced staff.
Generally, insurance maintenance technicians work from 9 am to 5 pm, throughout the working days of the week. Some of these technicians have flexible working rates and time, while others work part-time. Additionally, they work in offices of different dimensions that are airy and light.
What Skills Should An Insurance Maintenance Technician Have?
- Excellent oral and written communication skills.
- The ability to explain information in clear terms.
- The technician must maintain honesty and confidentiality.
- Must be good with numbers.
- Great analytic skills and a sound mind.
- Must be a team person.
- The individual must know when to forward a complicated case to a senior colleague.
- Exercise confidence when making decisions.
- Must be fast in taking in vital information and technical knowledge.
- Must be sympathetic, tactful, and diplomatic.
- Such an individual must be a computer literate with excellent typing skills.
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What Type Of Education And Training Does An Insurance Maintenance Technician Need?
To become an insurance maintenance technician, you don’t need any set qualifications. However, as a form of practice, certain qualifications may be demanded by companies to enable a trainee to undergo a Diploma program in Insurance from the Chartered Insurance Institute’s (CII), of which include:
- Four GCSE’s/S grades (A-C/1-3)
- BTEC first certificate. Alternatively, Diploma (merit grade and above in insurance options)
- CII Certificate in Insurance.
- Relevant NVQ/SVQ – level 2.
Interestingly, you can take a Foundation Insurance Test (FIT), conducted by the CII. Also, you don’t need any formal education to partake in this test. However, when seeking employment, you may be required to present your GCSE’s/S grades (A-C/1-3) in maths and English. You can also become a part of this industry by becoming an apprentice. Apprenticeships and Advanced Apprenticeships provides an ideal training platform for an apprentice. In general, apprentices get paid the least sum of £95 per week and more. In a recent survey, it was discovered that apprentices receive an average wage of £170 each week. The wages are dependent on the age, area of residence, work sector, and the entry-level into the system.
For individuals that are unprepared for Apprenticeship, they can take advantage of the Entry to Employment (e2e). Furthermore, individuals of ages 14 to 16 years can partake in Young Apprenticeships. The sets of training that are taken depend on the employer. In most cases, team leaders and professional technicians train new insurance technicians. There are also domestic and external courses available for these individuals. These technicians can learn direct jobs with the right supervision, and move on to more difficult jobs as they progress. You can undertake the Foundation Insurance Test (FIT) via distance learning. This introductory-level program covers legal principles, procedures, insurance market, and types of insurance. It is a 40-hour study guide that comes with a two-hour multiple-choice exam. By successfully completing the exams, you get six credits for the Certificate in Insurance.
The certification is embedded with valuable information on the insurance market, the essential disciplines, and available products. Additionally, it is a 50-hour study pack which is taken via distance learning. You get 40 credits for the Diploma in Insurance (unit-based qualification) after completing the certificate. For this Diploma, you must pass the three mandatory units, which include business practice and insurance law, insurance practice and regulation. Furthermore, you can study a wide spectrum of optional units based on your preference and career requirements. You need about 216 hours to complete the program online, via distance learning, or onsite learning. There is a Continuing Professional Development (CPD) scheme that is overseen by the CII and must be followed by individuals with CII qualifications. By participating in various activities, members gain credits. These activities include on-the-job training, training courses, and exams.