Building an Insurance Portfolio

About the Course

Insurance is used as a risk-reducing way for People and Corporates to achieve financial protection. Nobody owns and drives a car without motor insurance, and while your liability as a private or professional body may not require that you have indemnity protection, would you consider leaving these risks unprotected? Would you risk your family's well-being in case of an unexpected tragic event? Insurance is mainly untroubled by economic downturns since many insurance products are necessary for our multi-risk lives. Insurance is no different from any other business opportunity. But it also comes with some unique considerations.

First and foremost among them is the licensing process. To sell insurance anywhere globally, you must first pass a licensing exam. Other insurance-specific considerations include contracting insurance companies so you can represent them by selling their policies.

This Building an Insurance Portfolio training course provides in-depth insight into how the Insurance sector works and highlights the techniques of keeping an ongoing business running. It will provide the insights for creating the Business Plan for achieving maximum results by analyzing the various branches and alternatives of the Insurance products. The trainees will develop skills for identifying insurance needs through a wide variety of covers, and they will build Caring Client Skills for solid relationships.

Core Objectives

The delegates will achieve the following objectives:

• Build fruitful business plans mastering the technology needs of the new market
• Organise and administer a modern Insurance Agency Office
• Understand the legal issues of the Insurance Agency Business
• Define concepts and principles of insurance 
• Handle Competitiveness and Networking 
• Distinguish among the various types of Insurance Products
• Prospect Clients and promote innovative Insurance Plans
• Work on Policy Renewals and Premium collection

Training Approach

The delegates will achieve the following objectives:

• Build fruitful business plans mastering the technology needs of the new market
• Organise and administer a modern Insurance Agency Office
• Understand the legal issues of the Insurance Agency Business
• Define concepts and principles of insurance 
• Handle Competitiveness and Networking 
• Distinguish among the various types of Insurance Products
• Prospect Clients and promote innovative Insurance Plans
• Work on Policy Renewals and Premium collection

The Attendees

Likewise, it will be valuable to the professionals but not limited to the following:

• Business people and Agents of Insurance
• Self-employed Professionals
• Salespeople and Representatives
• Insurance Brokers wanting to enhance their Insurance Business
• Insurance employees working in Sales, Client Service, Call Centers 
• People interested in building an insurance career and an Insurance Agency
• Bank employees who promote insurance with other banking products
• Those interested in acquiring insurance knowledge and skills as a complementary job to their primary activity

Daily Discussion

DAY ONE: STARTING A NEW INSURANCE AGENCY

• The Insurance Market: Statistics and Operation
• The concept and importance of startup business in Insurance
• Characteristics of a successful implementation and development idea
• Contracting and Selection of Insurance Providers
• Organizing an Agency: Processes and Policies
• Marketing, Selling, and Negotiations
• Distribution, Competitiveness, and Networking

DAY TWO: THE NEW INSURANCE BUSINESS PLAN

• New Insurance Implications
• Strategic Insurance Plan
• Product and Distribution Mix
• Technological Applications of Insurance
• Human Capital Management
• Portfolio Building Skills and Growth
• Customer service

DAY THREE: INSURANCE PRINCIPLES AND METHODS

• The Insurance Code of Ethics
• Legal Requirements of Insurance
• Hazard, Insurability, and Insurable interest
• Contracting and Utmost Good Faith
• Underwriting and Reinsurance Coinsurance
• Claims Handling and Indemnification
• Policy Renewals and Premium collection

DAY FOUR: CORPORATE INSURANCE NEEDS AND PRODUCTS

• Insurance Needs and the Fact-Finding Process
• Corporate Insurances
• Business Interruption
• Public, Employers’, Product, and Professional Liability
• Marine, Aviation, and Transport
• Cybersecurity, Credit, Warrantee, and Pecuniary
• Contractors’ and Engineering Insurance

DAY FIVE: PERSONAL INSURANCE PLANNING AND PRODUCTS

• Insurance and Financial Planning for the customer
• The Life Insurance and savings sector
• Investment and Pension Products
• Accident and Health
• Motor Insurance
• Property and Casualty
• Personal Liability