Haris Ashley
An account handler in insurance is responsible for managing client relationships, promoting their company's insurance products, and providing customer service. They act as the first point of contact for clients, building strong relationships and ensuring their needs are met. Account handlers also work closely with brokers and underwriters to adapt policies to suit their clients. This role requires strong communication, negotiation, and relationship-building skills, as well as a background in sales, marketing, or financial services. It often serves as an entry point into the insurance industry, with opportunities for advancement into management positions.
| Characteristics | Values |
|---|---|
| Work environment | Normally based in an office environment but also involves travelling to visit brokers and other potential clients |
| Education | GCSEs in maths and English, A Levels, basic computer skills, a good degree (2:1 or above), and insurance qualifications |
| Experience | 3-5 years of experience in sales, marketing, financial services, or customer service |
| Skills | Strong communication, negotiation, and presentation skills, confidence, and the ability to build and maintain business relationships |
| Responsibilities | Developing contacts, increasing sales, marketing the company to professionals, adapting policies, managing client communications, nurturing relationships, handling queries and issues, promoting services, and providing customer service |
| Salary | £17,000-£22,000 starting salary, increasing to £25,000-£35,000 with experience, and up to £40,000 in senior management roles |
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Job description
An Account Handler in the insurance sector is responsible for developing and maintaining business relationships with brokers and financial advisors to promote and sell insurance products. The role involves visiting brokers and potential clients, negotiating sales, and networking at events. Account Handlers also work closely with underwriters to adapt policies to suit clients' needs.
Account Handlers are responsible for developing and maintaining business relationships with brokers, financial advisors, and other professionals to promote and sell insurance products. They act as the first point of contact for clients, providing excellent customer service and contributing to the retention of existing business.
Account Handlers must have strong communication and negotiation skills, as well as the ability to network and present to potential clients. They should be confident in their ability to sell the company's policies and adapt them to suit the clients' needs, in collaboration with underwriters.
A background in sales, marketing, or financial services is advantageous for this role, and work experience is essential. Some companies may require basic qualifications, such as GCSEs and A Levels, as well as insurance qualifications.
Day-to-day tasks include resolving account queries and issues, liaising with brokers and profit centres to ensure outstanding payments, and managing contacts with other departments. Account Handlers also support new business initiatives and ensure that client instructions and requirements are handled promptly and accurately.
With experience, Account Handlers can progress into management roles, such as Sales Manager or Area Manager, or even become self-employed brokers. The role provides transferable skills in sales, marketing, and account handling that can be utilised in other industries.
Salaries for Account Handlers can range from £17,000 to £22,000 for starters, increasing to £25,000 to £35,000 with experience, and reaching up to £40,000 in senior management positions. These figures may vary depending on the company size, experience level, and location.
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Qualifications
Entry-level qualifications
For an entry-level account handler role, some companies require basic qualifications such as GCSEs in maths and English, and A Levels if applying for a management training scheme. Some companies also prefer candidates with insurance qualifications or a degree, usually a 2:1 or above, in a related field. However, entry without a degree is possible with previous experience in areas such as customer service, sales, marketing, or financial advice.
Work experience
Work experience is highly valued for account handler roles. Candidates may have worked in junior roles within the insurance industry, such as insurance technician, underwriter, or junior account handler. Experience in sales, marketing, or financial services is also advantageous.
Senior account handler qualifications
For senior account handler roles, candidates typically need 3-5 years of experience in insurance, banking, or finance, specifically in account management or a similar role. Experience managing a large commercial portfolio of large businesses is often essential for senior positions.
Language skills
Some senior account handler roles require fluency in additional languages, such as French or Dutch, in addition to operational knowledge of English.
Technical skills
Technical skills, such as computer literacy and proficiency in Microsoft Office Suite, are often required for account handler roles. Experience with specific software, such as Open GI, may be advantageous.
Industry qualifications
While not always required, industry qualifications from the Chartered Insurance Institute or similar organizations can enhance a candidate's application and support career progression within the insurance industry.
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Salary
The salary of an account handler in insurance varies depending on experience, location, the size and type of employer, and the area of insurance. Starting salaries typically range from £17,000 to £22,000, with graduates on training schemes earning more. For example, the salary on the Lloyd's Insurance Graduate Scheme is £30,000 per year. With a few years of experience, salaries can range from £25,000 to £55,000. Those in senior management roles with substantial experience can expect salaries ranging from £40,000 to over £80,000 per year.
Account handlers in insurance can also expect to earn bonuses or commissions for reaching or exceeding sales targets. Additional benefits may include a company car allowance, private medical insurance, gym membership, and pension contributions.
It is worth noting that account handlers in the insurance industry typically work full-time on commission-based salaries, either for insurance agencies or as independent brokers representing multiple insurance companies. The job provides transferable skills that can lead to career progression within the insurance sector or other sales, marketing, and account handling roles in different industries.
While specific salary information for account handlers in insurance is limited, the IPS Group produces an annual UK General Insurance Salary Guide, providing up-to-date salary information for the UK insurance sector. Other recruitment companies, such as HAYS and IDEX Consulting, also produce salary surveys for the industry.
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Career progression
An account handler in insurance is responsible for developing their contact book and increasing sales of insurance policies. They are the bridge between clients and insurance companies, ensuring that clients have the coverage they need and that their claims are processed smoothly.
Account handlers in insurance can progress into management roles with increased responsibilities and senior positions. Here is a step-by-step breakdown of the career progression for an account handler in insurance:
Entry-level positions
Many professionals begin their journey in insurance as Account Executives or Assistant Account Managers. These roles provide hands-on experience, allowing individuals to support senior team members in managing client portfolios and gaining a deep understanding of the industry.
Insurance Account Manager
As an Insurance Account Manager, you will build and maintain relationships with clients, acting as their advocate within the insurance organization. You will be responsible for providing exceptional service and tailored insurance solutions. This role offers opportunities for growth and specialization in specific areas of insurance, such as property and casualty, health insurance, or commercial insurance.
Senior Account Manager
With experience and a proven track record, you can advance to a Senior Account Manager position. This role entails greater responsibilities, such as increased strategic involvement and monitoring the performance of a team of account managers.
Team Lead
As a Team Lead, you will manage a team of Account Managers and Account Executives while also mentoring and guiding junior team members. This position allows you to further develop your management and communication skills.
Specialization and subject matter expertise
With experience and progression, you may choose to specialize in a specific area of insurance. This specialization can lead to becoming a subject matter expert, taking on more challenging and rewarding roles within the insurance industry.
Self-employment and brokerage
Some experienced account handlers become self-employed and transition into brokerage roles, where they have greater personal responsibility and financial rewards. They may work independently or collaborate with other agents to sell insurance products to clients.
Transferable skills
The skills gained as an account handler in insurance are highly transferable, enabling career shifts into other sales, marketing, or account handling roles outside the insurance sector.
Overall, the career path of an account handler in insurance offers diverse opportunities for growth, leadership, and specialization. With experience and dedication, individuals can advance into senior management positions, become experts in their field, or explore self-employment options.
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Day-to-day responsibilities
An account handler in insurance is responsible for developing business contacts and increasing sales of insurance policies. Day-to-day responsibilities can include:
- Building and maintaining relationships with brokers, co-insurers, and other professionals to promote and sell insurance products.
- Working with underwriters to adapt policies to suit clients and their customers.
- Identifying risk exposures and advising on reinsurance solutions in consultation with the Account Executive/Producer.
- Obtaining quotations for new and renewal business.
- Managing all cash and production items to meet internal goals and objectives, ensuring general operational standards are met.
- Day-to-day resolution of account queries and issues within a specified system, in coordination with profit centres, shared service centres, and brokers.
- Supporting the team with new business initiatives and actively contributing to the growth and development of the branch.
- Ensuring compliance with FCA and company-agreed operational processes and procedures.
- Handling both new and existing customer enquiries on behalf of the Account Executives.
- Managing client communications, nurturing key relationships, and keeping track of all necessary documentation.
- Assisting customers with any claims and ensuring all relevant data is properly tracked in secured systems.
- Collaborating with other departments and undertaking various tasks within receivables teams, including sending reminders and dunning letters.
- Handling the overall bad debt process and maintaining FAS5 figures.
- Ensuring compliance with regulations and staying up-to-date with any changes or developments in the industry.
Account handlers in insurance typically work in an office environment but may also spend time visiting brokers and potential clients. The role requires strong communication, negotiation, and presentation skills, as well as the ability to build and maintain business relationships. Prior experience in sales, marketing, or financial services is advantageous.
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Frequently asked questions
A background in sales, marketing or financial services is a great start for this job. Work experience is one of the most important things as you can’t jump into the role without any insurance experience. Some companies will want you to have some basic qualifications on your CV, including GCSEs in maths and English, and A Levels if you’re looking to join a management training scheme. Many employers now like to see some official insurance qualifications on your CV too.
An Account Handler in insurance is responsible for providing clients with a high standard of client service and contributing to the retention of existing business. They also support Account Executives and liaise with brokers, co-insurers and profit centres to ensure all outstanding items are paid. They are also responsible for day-to-day resolution of account queries and issues within a Live Ledger system.
There are lots of opportunities for progression as an Account Handler in insurance. Once you’ve got a few years of experience and your responsibilities have increased, there are lots of management roles available, including Sales Manager and Area Manager. If you ever get fed up of the insurance sector, the job will teach you transferable skills that you can use in other sales, marketing and account handling jobs in other industries.
