Insurance Sales Interview Questions And Answers

The interviewer is trying to find out about you, your job skills and how well you express yourself. Do not dwell on personal issues. State your best qualifications for the job. Be specific and include examples to support your statements. Try to show that you meet the employer's expectations. For example:

☛ I am punctual, dependable and can be counted upon to finish what I start. I get a great deal of satisfaction from knowing that I have done something well and on time. For example, at my present job, I was given different work orders every day. It was my responsibility to finish the orders and make sure they all met quality and safety standards within a specific deadline. On occasion, I had to familiarize myself with the product and the production process. I was always able to learn quickly and carry out my job responsibilities. Our company was known for making excellent processed food products. In 1990, it received an award for being on of Canada's top companies in the field. I feel I can use the same skills and hard work to do well on this job too.

Reps generally only care about one number: their quota. Keeping on top of pipeline and win rate is also important ... as these metrics pertain to their quota. It's all quota, all the time.

But when a rep is promoted to management, they must produce forecasts and reports that analyze a variety of metrics across the entire team. While a sales manager doesn't need to be a data analysis pro, they do need to have some familiarity with and inclination for crunching numbers and spotting trends. Beware of candidates that express active revulsion for data analysis.

'Subrogation' is referred as the process of seeking reimbursement from the responsible party for a claim that they had already paid. For example, you have an accident where your car gets damaged,and you have car insurance, the insurance company will pay you the money. But the insurance company comes to know that the accident occur due to other party fault, now they will claim themoney from the other party this is known as 'subrogation'.

The interviewer is trying to determine what you know and like about the company, whether you will be willing to make a commitment to the job, and if your skills match the job requirements. Your research will be a big help in formulating your answer to this question. Say as many positive things about the company as possible, show your interest in whatever products/services they sell and explain why the position fits with your career goals.

In case of fire or natural calamities, if your house is completely damaged and if you want to claim your personal property to insurance company, inventory list is very important. The insurance company will only pay you for those items where you are able to show the evidence that the damaged items belong to you. So, it is advisable to keep a list of inventory in a safe place.

The interviewer is trying to find out how you get along with Supervisors and how you feel about authority. You might say:

☛ I appreciate getting instruction and criticism when it is done fairly and constructively.

Never run down or say anything negative about anybody or anyone. The employer will feel that you will do it to them. You should state the positive things such as he had high expectations and I really respected him for that. He was down to earth and really knew the job I was doing, if I had any problems he was approachable and would always give me suggestion or he gave the responsibility to do a good job.

☛ I liked my employer. He/she treated me fairly and respected my work

☛ I appreciated my previous employer having given me the opportunity to acquire a lot of skills and experiences in (name area of work skill).

Schedule of loss is a document submitted to theinsurance company to claim the policy; it gives the information of damaged or lost items like model number, when it was purchased, cost of the item etc.

This question indicates that the job involves working with money or valuable merchandise. Very likely the employer's insurance company requires that only bondable people be hired as a condition of their insurance policy.As long as you do not have a criminal record, and you have not previously been denied a bond, you should answer "yes" to this question. Caution: If you answer yes when you are not legally bondable it is very likely that the employer will discover this.

This is your opportunity to give some detail of what actual work skills you have. Don't be vague, supply all of the information that you have to offer.

No claim bonus is a benefit for those who have not claimed insurance during the preceding year of cover. This will lower the premium on the following year.

PLPD stands for 'personal liability and property damage'. Personal liability covers when an individual cause injury to others in an accident while property damage is done when any property get damaged. In both, the injured party or third party will claim for insurance money from the insurance company of the offender.

The interviewer is trying to find out about your commitment to your career choice. In other words do you do it because you love the work or just take any job you can get for the money. If you did this work for many years and stopped due to a layoff,you might say:

☛ I have done this for (number) of years. I like my work. The only reason I left my last workplace was because I was laid off.

List any other skills that you have that are related to the position. You can also discuss any hobbies or volunteer experience you have and discuss any interest courses or educational upgrading you have.

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'.

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.

'GAP insurance' is also known as Guaranteed Auto Protection. It covers the difference between the actual cash value of the vehicle and the balance still owed on financing like loan. GAP insurance amount is generally paid up front.

The interviewer wants to know if you can learn to do the job in a reasonable time and how much training you will need. Never say "no" to this question. Instead, stress the experience you do have that will assist you in learning the new job quickly and efficiently. No two jobs are alike and you never do exactly the same work. In all jobs, new skills, rules and details have to be learned. Be sure to mention the following:

☛ Your past work experience.
☛ Your education and training related to the job.
☛ Volunteer work that might relate to the job.
☛ Any transferable skills - e.g. organizational skills, people skills.
☛ Your ability to learn quickly and how quickly you learned that type of work in the past.

If your policy has Additional Living Expenses coverage, then sure the insurance company will pay you additional expense that you require, to maintain your normal standard of living.

The interviewer is trying to find out about your ability to get along with others.Focus on the following:

► The advantages of working in a group. Explain how the various individuals in a group complement one another in carrying out certain tasks.
► Give specific examples of your personal experience in a group

The interviewer may think you are over-qualified and want this job only until something better comes along. Stress that no job is ever boring because you always learn new skills. Mention how you would benefit by working for the company and vice versa.

In home insurance coverage, 'All perils' protects you from thewidest range of risks besides common risks while 'Specified perils' will give coverage only for the common risks, that is listed in your policy.

Interviewers ask this question to see if your activities and hobbies might help the company and to get an idea of what kind of person you are outside your work life. Describe any volunteer work you do and any hobbies or interests that might relate to the job in some way. Stick to active hobbies, such as playing sports, carpentry,gardening, etc. Avoid mentioning inactive and non-creative activities such as watching television.

Collision coverage covers when you have a collision with any other object or vehicle while comprehensive coverage covers your vehicle other than collision, when your car is not in use.

The interviewer is looking for clues to any problems you have had in previous jobs and if you may have the same problems in a new job. Try to:

☛ Avoid saying anything negative about yourself or your previous employer. If you had problems, explain them without being negative.
☛ Be careful not the use the word "fired" or "quit". Instead use words such as: "I changed jobs", "I was laid off", or "I needed a more challenging job".
☛ If you were fired and are not on good terms with your previous employer, explain the reason why you were fired. Stress that you learned something from the previous situation.