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An insurance sales manager position is only found in the financial or insurance industry. The primary focus of this position is to manage insurance sales staff. Insurance is sold as a policy, purchased by businesses and individuals to minimize the financial consequences of unexpected situations. There are three primary responsibilities of a person in this position: managing staff, training, and selling insurance products to high-profile clients.
The level of eduction required to qualify to be a manager in an insurance firm varies by organization, but most firms require at least a three-year community college degree. There is no specific degree or diploma program that provides the training required. Instead, the insurance firm provides training to all staff upon employment, and continues to offer courses throughout his or her career. Although many insurance sales managers have a master's of business administration (MBA), it is not required.
The most important requirement to become an insurance sales manager is insurance sales experience. People who are consistently top sellers are often promoted to the position of manager. In this role, he or she can teach others how to achieve the same success.
Staff management forms a huge part of the responsibilities of an insurance sales manager. This include interviewing, hiring, disciplining, and firing. The manager sets the tone for the department, determines the amount of support provided to staff, and encourages sales.
Sales training, coaching, and performance evaluation is typically completed by the insurance sales manager. Each member of the sales team is provided with the standard training program. Good managers take the time to help staff fine tune their technique so they can achieve more sales. Practice sessions and team meetings are a great way to keep staff motivated.
Insurance managers often have a roster of clients they have secured over the years, and many keep their client list active. This means that they continue to manage their accounts, selling them new products as needed. He or she will often maintain contact with high-profile clients, to keep the relationship and commissions active.
Insurance sales managers are often paid a flat salary, plus bonuses. This structure provides the motivation to continue to sell products and up sell existing clients. In addition, the bonus is tied to the productivity of his or her team. This combination creates a highly motivated manager who will find the best ways to increase sales.