These Positions Are In Departments Such As Accounts And Data Processing, Which
These positions are in departments such as accounts and data processing, which are located outside London, and a high proportion of GCSE recruits are women. There is no pub to promotion for GCSE recruits, and possibilities depend on personality and job performance. It is possible to be transferred to a trainee scheme in London, but this is fairly rare. Training - insurance trainee schemes: Some trainee schemes are formalised as a two - year period of job rotation around different departments and areas of insurance. Other schemes allow more unplanned progression, designed to widen experience.
Recruits might, for example, start off in the claims department, answering the email, photocopying documents and writing emails. Alternatively, they may start as juniors on the policy wording side. Both types of position provide background information about insurance and the types of cover provided. If recruits are smartly dressed and good mannered they may quickly be put into a public area dealing with clients in account handling, or they may be asked to go out with more senior brokers to place the business. After that, depending on the size of the firm, it is possible to be transferred to a branch, or specialise in a particular area of expertise in broking or in insurance.
Training programmes vary greatly. Broking firms believe strongly that broking is a people business, and that it is essential to capitalise on their personnel. They do this through intensive training on the job and with professional qualifications. ( However, other companies have a more traditional approach, usually leaving employees to make their own way. Such companies may be dubious about the benefits of formal training programmes and professional qualifications.
They may believe that brokers should be self - taught through on - the - job experience and that career progress depends upon entrepreneurial flair and making the most of all - opportunities. A level and graduate recruits are expected to progress more quickly than GCSE recruits but after the initial training period each person sets his or her own rate of progress. Company Structure: Generally, companies are organised into divisions which deal with particular classes of business. Sometimes, each division is a separate company, all of which form a broking group.
Transfer from company to company or division is not impossible, but is rare. Jobs in Insurance: This flexibility is reflected in the structure of brokerage firms. There are four different kinds of broking job: Account executive who deals directly with the client and handles the account. Placing broker who places the insurance with underwriters. Wordings expert who checks policy wordings and the extent of cover.
Claims broker who presents claims to the underwriter on behalf of the client. Account Executives The account handler meets the client's needs by dealing with correspondence, requests for insurance cover, claims and premiums. He or she is responsible for passing correspondence on to the correct broking division, so that, for example, requests for insurance cover are passed to placing brokers, and claims to claims brokers. Each account handler is in charge of several accounts and will be supervised by an account executive.