Analyzing a Job with State Farm Insurance - Resume/CV Example

ANALYZING A JOB Analyzing a Job with Farm Insurance Word Count 250 (4 pages) October 23, TO: State Farm Insurance Hiring Manager FROM: Human Resources RE: Requirements to Fulfill Operational Gap Dear Hiring Manager: An operational gap has been found within our organization, State Farm Insurance, for a team member position. Following are the requirements for the position: Responsibilities. The necessary requirements of the position are described in the position duties section. Minimum attributes required. An excellent knowledge of math and Microsoft Office Suite products are necessary, as well as the ability to do occasional statistical calculations. Soft skills are also needed, like good interpersonal communication and good organizational skills. We prefer to hire insurance agents who have college degrees, particularly in business or economics. We might consider hiring a high school graduate who has proven sales ability. Every state requires insurance agents to be licensed. Our agents are required to obtain separate licenses to sell life and health insurance or property and casualty insurance. In most states, sales agents, in order to become licensed, must complete pre-licensing courses and pass state examinations. Position details and job description. State Farm is seeking energetic and motivated individuals to to help build a State Farm agency in this city. Previous insurance experience is not necessary (although its okay) and we will provide training and reimbursement for licensing fees. We are looking for a self-motivated, career-minded, confident person, who is interested in making money as well as developing a career path in the insurance industry. Agents can provide a number of services. Many of them sell several different kinds of insurance. So they can help you save by “bundling” your auto insurance policy with your homeowners’ coverage, for example. And some agents provide other financial services — so they can help you plan for retirement, or budget for policy-owners’ children’s education. Most importantly, agents can offer people expert guidance through the insurance system. They know better than anyone what plans are available, and which of those plans will be a good fit for clients. They can help clients through the application process, to make sure that everything is filled out correctly so one can qualify for the best possible rates. And many insurance agents have professional relationships with insurance underwriters — the people who approve applications and set rates. That means that if there’s any question, they can quietly shop around for you, to make sure you qualify for a plan before one applies. The best part of working with an agent is the cost — it’s free. Agents get paid by the carriers they represent, not by the client. So one can turn to them for advice, without getting billed by the hour. It isn’t often that one can get free expert advice on something as complicated as buying insurance. So working with an agent isn’t just a good idea — it makes good financial sense, too. Where does one find agents? One should turn to the internet. One can use a free quote service to get matched with qualified agents in one’s area. They’ll answer your questions, find one the right plan, and make one an offer that one should be able to afford. To get matched with local agents, all one has to do is fill out a short, simple form. Usually agents will allow one to request some free quotes, and the customer will be on their way to getting expert advice about their insurance options. Position duties: • Contact a 50 - 100 prospects per day via telephone • Visit local professionals and businesses to establish networks • Ask for referrals from new customers. • Gather and qualify customer information for each household • Prepare quotes and presentations • Send out quotes and presentations via email & mail • Follow up with prospects and clients • Meet with clients face-to-face to make presentations • Setup and establish new household accounts in the system On a typical day an insurance agent might perform some of the following duties: prepare reports and maintain records; seek out new clients; in the event of a loss, help policyholders settle insurance claims; some may also offer their clients comprehensive financial planning services, such as retirement planning, estate planning, or assistance in setting up Performance requirements. The employee will be held to a high level of performance, and performance evaluations will be held every one to three months. Knowledge and skills required. The knowledge and skills required include at the minimum a Bachelor’s degree, ideally with a major in finance—but all liberal arts majors are also encouraged to apply. The organizational positioning of this opportunity and how support will be provided: • Agency will provide paid training for all sales, marketing, product knowledge, and client care situations • Agency will provide reimbursement of licensing fees • Agency will provide an ample amount of leads to be worked, including internet leads, telemarketer leads, and direct mail support An insurance agent with ability can advance into a management position, becoming, for example, a sales manager in a local office. Later on one can become an agency superintendent or land another executive position. How this opportunity is consistent with State Farm Insurance’s goals. According to Mission Statement (2011), State Farms mission is “to help people manage the risks of everyday life, recover from the unexpected and realize their dreams” (pgh. 1). The compensation for the position is handsomely rewarded. The estimated salary is anywhere from $30,000 to $76,000 per annum, according to State Farm Insurance Sales Agent Salary (2011, pgh. 1). Either way, one is going to have a good salary if one takes this position. According to the Department of Labor (2011), “The median annual wages of wage and salary insurance sales agents were $45430 in May 2008. The middle 50 percent earned between $33070 and $68730” (pp. 537). Wage and salary insurance agents earned median annual earnings of $45,500 in 2009. Independant insurance agents earn only a commission, while insurance agents who work for an agency or carrier receive either a salary only, a salary plus commission or a salary plus bonus. Insurance agents often receive benefits that include continuing education, training to help with licensing requirements, office space and clerical support. Employment of insurance agents is expected to grow as fast as the average for all occupations through 2018. Job candidates who are multi-lingual and those who have a strong knowledge of relevant technical and legal terms will have the best chance of getting hired. Other items to note: • This position may require irregular hours. • This position may require travel to other State Farm locations as well as to clients homes or businesses. Please ensure that all candidates provide a resume, and a brief statement as to why he or she would be an asset to our agency. Thank you. Sincerely, Human Resources State Farm Insurance REFERENCES Mission statement. (2011). Available: . State Farm Insurance sales agent salary. (2011). Available: . U.S. Dept. of Labor. (2011). Occupational outlook handbook 2011-2012. US: McGraw-Hill Professional. 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