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For Companies At a Glance
- Tasks: Support insurance products through research, analysis, and project delivery.
- Company: Join a dynamic financial services company focused on innovation and customer satisfaction.
- Benefits: Enjoy hybrid working, private medical insurance, and 25 days holiday plus bank holidays.
- Why this job: Be part of a collaborative team making impactful recommendations in the insurance sector.
- Qualifications: Experience in product management and strong knowledge of financial services, especially insurance.
- Other info: Opportunity for continuous professional development and potential to earn retail vouchers by referring friends.
The predicted salary is between 32000 - 35000 £ per year.
Salary: £32k - £35k
Monday to Friday 9am-5pm
25 days plus bank holidays
Hybrid working
Private medical insurance
Free parking onsite
Lloyd Recruitment Services is pleased to be working with a financial services company in search of an Insurance Policy Executive to join their team.
Purpose of Job: To provide product, technical, and processing support in respect of financial services related to insurance policies. This role involves conducting detailed research into competitor activities and member feedback, enabling the creation of insightful findings, analysis, and actionable recommendations. Additionally, the role includes supporting the development of new insurance products and contributing to the successful delivery of projects.
Key Tasks/Accountabilities:
- Provide technical product support to the team and Contact Centre
- Manage internal and external queries to successful resolution
- Support the Technical Product Manager and others with competitor research
- Undertake regular reviews of competitors and products and conduct ad hoc research/reviews as required
- Present comprehensive findings in an easy-to-understand format
- Identify gaps in knowledge, products, or processes through query management, member feedback tracking, and call listening
- Report findings with recommendations and ensure agreed actions are tracked to completion
- Support the delivery of projects by working collaboratively with internal and external stakeholders, as well as undertaking small projects independently
- Deputise for sign-off of documentation/marketing and promotional activities
- Provide administrative support for products and product managers, including organising meetings, producing slide packs for meetings, taking minutes, managing stock control, obtaining costs and approvals, managing action logs, and ensuring actions are followed through to completion
- Collate and analyse information, monitor, and report on the performance of products
- Conduct medical screenings for travel insurance policies and support the Contact Centre and Emergency Services team by recording and reporting information
- Analyse trends and make recommendations for improving efficiency and member experience
- Attend and present at internal and external meetings, bringing technical expertise and contributions
- Support the creation of accurate and easy-to-understand customer documentation related to insurance policies
- Provide support to the Claims & Complaints team, e.g., sending NPS surveys, updating site incident and accident logs, managing invoicing of members, issuing complaint acknowledgments, and providing updates to members
- Ensure processes, procedures, and guides for the team and Contact Centre (where appropriate) are adequately documented, kept up-to-date, version-controlled, and reviewed at least annually
- Represent the department at events and exhibitions, particularly those related to insurance and financial services (including weekends)
- Complete a minimum of 15 hours of continuous professional development each calendar year, or more as required by regulation or to maintain sufficient regulatory and product knowledge
Essential Skills & Experience Required:
- Product management experience
- Strong knowledge and understanding of financial services products, particularly insurance policies and the competitor marketplace
- Experience conducting competitor and customer research, analysing research, and presenting findings
- Ability to analyse information and integrate data from different sources and systems
- Experience managing customer service queries (directly with customers and through others) using various communication methods
- Documenting processes and procedures while maintaining good governance and controls
- Ideally good knowledge of FCA compliance and its practical application
- Proficient use of Google Suite
Refer a friend and you will receive a retail voucher of your choice up to the value of £500. Full details can be found on our website.
Unfortunately, due to high numbers of applications, we are only able to respond to shortlisted applicants. If you have not heard from us within 5 days, please assume that you have not been shortlisted on this occasion.
By applying for this vacancy, you accept Lloyd Recruitment Services Privacy and GDPR Policy, which can be found on our website and therefore gives us consent to contact you.
Lloyd Recruitment Services are acting as a recruitment agency in relation to this vacancy and are an equal opportunities employer.
Insurance Policy Executive employer: Lloyd Recruitment Ltd
Contact Detail:
Lloyd Recruitment Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Insurance Policy Executive
✨Tip Number 1
Familiarise yourself with the latest trends in the insurance industry. Understanding current market dynamics and competitor offerings will not only help you in interviews but also demonstrate your proactive approach to the role.
✨Tip Number 2
Network with professionals in the financial services sector, especially those involved in insurance. Attend relevant events or webinars to make connections and gain insights that could be beneficial during your application process.
✨Tip Number 3
Prepare to discuss specific examples of how you've conducted competitor research or managed customer service queries in the past. Being able to articulate your experience clearly will set you apart from other candidates.
✨Tip Number 4
Stay updated on FCA compliance regulations and their practical applications. Showing that you have a solid understanding of these regulations can give you an edge, as it’s crucial for the role of an Insurance Policy Executive.
We think you need these skills to ace Insurance Policy Executive
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Insurance Policy Executive position. Understand the key tasks and accountabilities, as well as the essential skills and experience required.
Tailor Your CV: Customise your CV to highlight relevant experience in product management and financial services, particularly insurance policies. Emphasise any experience you have with competitor research and customer service queries.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the insurance market and your ability to analyse data. Mention specific examples of how you've conducted research or improved processes in previous roles.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects attention to detail, which is crucial for this role.
How to prepare for a job interview at Lloyd Recruitment Ltd
✨Know Your Products
Make sure you have a solid understanding of the insurance products relevant to the role. Be prepared to discuss how these products work and any recent changes in the market that could affect them.
✨Research Competitors
Conduct thorough research on competitors in the insurance sector. Be ready to share insights on their offerings and how they compare to your potential employer's products during the interview.
✨Demonstrate Analytical Skills
Prepare examples of how you've previously analysed data or customer feedback to make recommendations. This will showcase your ability to contribute to product development and improve member experience.
✨Showcase Communication Skills
Since the role involves managing queries and presenting findings, practice articulating your thoughts clearly. Use examples from past experiences where you effectively communicated complex information to different audiences.
