1. Please tell me what was the work environment like?
It was good. I had my own office, 2 screen computer. There was 5 of us at our agency, pretty easy, laid back, dress business casual. Had a good lunch break, everything was pretty good. I really did enjoy that.
2. Please tell me what is a premium'?
It is the amount to be paid for a contract of insurance to the insurance company. It is the sum that a person pays monthly, quarterly or annually according to their plan, in return of the coverage he/she has taken from the insurance company.
3. Explain me what kinds of communication situations cause you difficulty?
Use of informal communication in areas where they are many communication barriers to pass a formal message. E. G. A manager giving me an important duties by verbal in a loud and congested area.
4. What do you mean by term Annuity?
An annuity is the term used for the regular amount paid by the insurance company to the insured, after a certain period of time. The payment can be monthly or quarterly, this is often done to supplement income after retirement.
5. Where do you see yourself in 5 years as Insurance Claims Agent?
Naturally I have to be where I have set my goal within the span to that ultimate success where I must be a leading person to motivate and help subordinates to resolve the claims and in decisional making process.
6. Tell us do you specialize in any particular areas?
Some agencies are full-service, others are limited to specific lines and types of coverage. For example, I have one insurance agent for my home and auto coverage and another agent who handles my life-insurance needs.
7. Tell me what are you currently working on for self development?
Delegating - I often have a hard time allowing other to help me because I don't know if they will be through enough or do as good of a job. Speaking in front of large groups - I'm ok doing this but I do get really nervous. Too thorough - if I'm not careful it can slow me down sometimes.
8. What is ‘declaration page' in insurance policy?
‘Declaration page' in insurance policy, bears all the information of the policy holder like name, address, vehicle information, type of coverage and loss payee information.
9. Explain me what questions did the interviewer ask during the job interview?
My interview was more or less on the floor, I guess. They asked me to make a phone call and to see if I could sell. I did, I ended up calling a business. I ended up talking to the business owner. I ended up getting a quote for him. Through that my boss was like, “Okay we understand that you can do that. Try doing a residential.” I got a quote through them and therefore I did my job in front of them. I showed them that I was capable of doing it.
10. Tell me what types of programs and software are you well versed in?
I'm a self motivated and positive person. I'm industrious, dependable and accountable. I am practiced in dealing with the public and have excellent problem and complaint resolution skills. I also have a great depth of experience in working with complex processes and matrixes and I work extremely well in a fast paced and even a chaotic environment.
11. Tell me your job title and primary duties?
I was a marketing coordinator agent. I was the annoying person that would work on your leads. Those were telephone marketing, emails, different things like that, but I also did handle social media. Anything that our agency posted social media-wise on Facebook, Instagram, different things like that, was all through me. With that position I was able to … You have the potential to work your way up with all the certifications and eventually becoming an agent. That's what my boss had actually done. That's not what I really wanted to go into.
The paid value is something, when the insured stops paying the premium but do not withdraw the amount. The sum assured by the insurance company is reduced proportionally depending when insured has stopped paying the premium. You will get the amount at the end of the term.
13. Tell us how do you charge for your services?
All advisors must spell out their cost structure. Insurance may be more product or commodity than service, but you still want to avoid surprises, particularly if you intend to develop a relationship and get on the phone periodically seeking advice
Insurance agents get paid more for selling new policies than for maintaining older ones, and some recoup this decline by adding hourly costs for offering ancillary financial planning services. If an advisor will put you on the clock when you call for advice, you should know it up front, especially if the charges are in addition to ongoing commissions from your insurance policies.
14. Explain are you efficient with your time?
I make the most of my time by performing the highest priorities first and working my way down a list that I usually generate. If I run out of items on the list, I find other areas of my job that need to be worked on and preform those duties.
15. Tell us something that do you know about our company?
I'm most familiar with the services that you advertise through television and workplace outreach, of course, but most people are. I'm also aware that you operate as a large, international insurer, but that most of your sales are through agents and brokers, not the direct market. This means I'm likely to be working with clients who have their own advisers and representatives, so I need to be prepared to defend the company's positions, but I can also count on having a translator on the other end to work with most clients.
16. Do you know how can we reduce our costs?
In all types of insurance, there are ways to cut costs, jettisoning unnecessary coverage, consolidating policies under one insurer, qualifying for discounts, and more. Ask for a list of all potential discounts. Insurers offer discounts for everything from people who stop smoking to those who enter a weight-loss program or get good grades.
17. Tell us what companies get most of your business and why?
"Independence" is great, but it doesn't mean an agent won't play favorites. That's okay, so long as the agent's favorite consistently provides proper coverage, rather than the best commission structure.
The reason for asking this question in advance of doing business, however, has to do with how you will size up the agent's advice. If, after a needs analysis, the agent is recommending companies that are not the primary carriers he works with, you will want to know why. If he picks his fave, you'll want to know what makes this a better policy than other available options.
18. Please explain what do you mean by ‘Deductible'?
Deductible is one of the several types of clause that are used by the insurance company as a threshold for policy payment for health insurance or travel insurance. Deductible is a decided amount that you have to pay from your pocket while claiming the insurance. For example, you have a deductible of $500, and you have insurance coverage for $2000, then you are responsible for paying for $500 and the remaining amount $1500 will be paid by insurance company.
19. Is it advisable to replace the policy with another policy?
If it is not a long duration that you have bought the policy, then you can replace the policy. But in other case it is not advisable as you will lose all the benefits of the previous policy also the premium will go high as you go older. Also, the two-year period of contestability will also begin again.
20. Please tell us how would you describe the application and interview process?
I applied online. I applied at the Job Wanted Ads here at Texas State. They put their ad in through them. I got a response the next day. I called them, emailed them my resume. When I went in for my first interview, it was more difficult than I expected. Usually in an interview I felt that it was going to be more or less like, “Okay you've done this job before. Tell me a little bit about the experience you've had with it.” With that one they wanted to know more information about schooling. How I was able to best suit the job? How my job performance was going to work with that? If I was able to make 75 phone calls in an hour versus making 15 phone calls in one hour. Doing things like that.
21. Tell me why did you choose to become a Claims Adjuster?
Actually, I landed a job in the claims department at a young age through a friend of a friend. I learned the role and the skills that came with it. It was something it enjoyed and so I stayed in that area.
22. Explain what motivates you to do a good job as a claims adjuster?
Problem solving that motivates me if I do my best and help resolve a problem and if the client is cestisfied I am certisfied too.
23. Suppose if hired by us, what would your goals be as an adjuster?
I am looking forward to work hard by awarding genuine claims to genuine clients and reaching the company's goal as that of mine.
24. Please explain what was your favorite part about working there?
My favorite part would … Not only other than the pay, was being able to interact with our clients. If they had questions being able to help them better understand something that they didn't quite fully understand. Different things like that, being able to help people out because at the end of the day it was something that I had a passion for. If I'm able to help them out versus them having to not understand something or if they were in a scenario where they had the wrong policy information. Being able to give them that information and help them out at the end of the day was a rewarding feeling.
25. Please explain what do you mean by ‘insurance coverage'?
The term ‘insurance coverage' means, when an individual takes an insurance policy the insured will be covered by insurance company for a specific amount for themselves or the things that he had taken the insurance policy, for which he would be paying premiums to the insurance company. The insurance company will pay the insured in case of damage or claims made by the insured according to their ‘insurance coverage'.
In order to claim the policy, you have to fill up the claim form and contact your financial advisor from whom you have bought the policy. You have to supplement all the required documents like original payment receipt to your insurance company. If everything is ok, you will be paid within seven days of the policy claimed.
27. Explain what are the different types of Insurance Coverage?
Insurance policy is categorised into two
a) General or Non-life Insurance
b) Life Insurance
28. Please tell us what do you mean by ‘Loss Payee'?
The loss payee is a person or institution (Bank) that receives the insurance payment on the loss of the property or vehicle you own. It is a legal definition used to cover the investment of other parties or bank that is owned by you. For example, you have a car on loan, and also you have insurance for that car. Now you met an accident, and your car is a total loss(meaning completely damaged beyond repair). Your bank still owes money from you in such case when you claim the insurance; the insurance company will pay money directly to Bank or person you owes money. Here bank is a loss payee.
29. Explain me how are the companies you deal with rated?
You'd like to know about an insurer's financial strength before you buy one of its policies. The major independent research firms -- Standard & Poor's, Moody's Investor's Service, A.M. Best, and the like -- measure a company based on the depth of its reserves, the spread of its risks, profitability and investment income, the quality of management, and more. From there, the service assigns a grade.
Your agent should be willing to give you at least two ratings reports on any insurer you are considering. If he can't deliver, question what is being hidden here. While insurance company failures are rare, they are not unheard of, especially since the financial crisis that swept the country in 2008.
30. Sample Insurance Claims Agent Job Interview Questions:
☛ What are the most important personality traits of an effective insurance agent?
☛ Who are this agency's top 3 competitors?
☛ Why were you initially interested in the insurance industry?
☛ How do you keep your energy level up on days when you hear more “no's” than “yes's”?
☛ Have you thought about pursuing the CFP designation?
☛ We must change from being producers to marketers if we are to be successful. What do you think of that statement?
☛ Pretend to sell me yourself as the product and tell me what the benefits are.
☛ How do you convince prospects that they need to make a change (in insurers)?
☛ Tell me about a time when you converted a “no” to a “yes.”
☛ How do you cope with rejection on a daily basis?
☛ Have you ever sent a prospect a written communication that contained a spelling or grammatical error?
☛ What are some ways you build trust with clients?
☛ How do you differentiate yourself from your peers?
☛ How do you personalize the process of buying insurance for each client?
☛ Do you belong to any insurance agent associations?
☛ What would you tell a customer who said they could buy your product from another agency at a cheaper rate?
☛ Do you have experience using a Customer Relationship Management program?
☛ What are key elements of an effective content marketing strategy?
☛ How do you show the customer that they are valued and important?
☛ Tell me some ways you have tried expanding beyond your natural market.
31. Basic Insurance Claims Agent Job Interview Questions:
☛ What challenges are you looking for in this position?
☛ When would you be available?
☛ Tell me about your post-secondary education. What was your best course, and which one gave you the most difficulty?
☛ How well do you understand the insurance industry?
☛ If hired by us, what would your goals be as an adjuster?
☛ What kinds of communication situations cause you difficulty? Give an example.
☛ Why did you choose to become a Claims Adjuster?
☛ What are your three greatest strengths?
☛ In your opinion, what makes you the best candidate for this job?
☛ Where do you see yourself in 5 years?
☛ Do you consider yourself highly organized?
☛ Tell me about a time that you went out of your way to assist a colleague. What satisfaction did you get from your actions?
☛ When have you dealt with an angry customer before? How do you handle such situations?
☛ As a Claims Adjuster, most of your customers will be in some distress. What qualities do you possess that tell me you are capable of handling communication with individuals in distress?
☛ I'm interested in knowing more about the culture and type of work you are seeking. What is your ideal position at this time?
32. Behavioral Insurance Claims Agent Job Interview Questions:
☛ Tell me about a time you had to deal with an aggressive client. How did you handle it?
☛ Describe a time you persuaded someone to buy insurance after having refused at first
☛ Tell me about a time you had to close deals to meet quota in a short period of time. How did you manage?
☛ What's the most successful sale you've ever made?
☛ Describe a time you helped a client with a problem regarding their policy
33. Operational and Situational Insurance Claims Agent Job Interview Questions:
☛ Here's one of our insurance plans. Sell it to me
☛ What insurance plans are you familiar with?
☛ Which up-selling techniques have you employed to your clients?
☛ What questions should you ask to evaluate a prospective client's needs?
☛ How do you use social media to identify prospects?
☛ Are you comfortable with cold-calling?
☛ How do you keep track of policy plans you've sold?
☛ What forms of advertising do you employ as an insurance agent?
☛ What are people's criteria in choosing an insurance policy?
☛ If a client was trying to negotiate in a way that wouldn't be profitable to our company, what would you do?
34. Top 20 Insurance Claims Agent Job Interview Questions:
☛ Have you had to contact a doctor before on a questionable claim?
☛ Explain to me some of the career movement on your resume.
☛ What motivates you to do a good job as a claims adjuster?
☛ Are you efficient with your time?
☛ What was the most difficult period in your career so far and how did you deal with it?
☛ What steps do you go through when you investigate a claim?
☛ What types of programs and software are you well versed in?
☛ What are you currently working on for self development?
☛ Tell me about a fraudulent claim you discovered. What action steps did you take?
☛ When you have difficulty persuading someone to your point of view, what do you do?
☛ Have you researched our company? What attracted you to our organization?
☛ What experiences do you have talking with legal counsel on claims?
☛ What are your salary expectations?
☛ We were initially looking for someone with 5 years' experience in a similar role. Considering you have just 2 years' experience, would you be willing to accept this position at a lower salary?
☛ If you could re-do any of your insurance courses, which one would you choose and why?
☛ Describe your leadership skills.
☛ When entering a new job, describe how you build relationships with your new coworkers and supervisors.
☛ Outside of work, what type of creative activities do you like to pursue?
☛ How often do you discuss work with your colleagues in order to think up new systems and styles of working?
☛ Tell me about yourself.
35. Explain what experiences do you have talking with legal counsel on claims?
I've never been in contact with legal counsel regarding claims but I do have contacts with the legal counsiel including prosecutors and advocates, I think with that experince and contacts I won't have any difficulties should the client is not certisfied with his or her claims and decide to take the company to court, I will deal with that and present my facts in the court of law.
