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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 free onsite parking.
- 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 retail vouchers for referrals.
The predicted salary is between 28000 - 35000 £ per year.
Job Description
Position: Insurance Policy Executive
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
Salary £33k – £35k
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 Services Ltd
Contact Detail:
Lloyd Recruitment Services 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 market. Understanding competitor activities and recent developments 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 industry events or webinars to gain insights and make connections that could be beneficial when applying for the position.
✨Tip Number 3
Brush up on your analytical skills, particularly in data integration and presentation. Being able to present complex information clearly will be crucial in this role, so practice summarising findings in an easy-to-understand format.
✨Tip Number 4
Stay updated on FCA compliance regulations and their practical applications. This knowledge will not only enhance your credibility but also show your commitment to maintaining high standards in the insurance industry.
We think you need these skills to ace Insurance Policy Executive
Some tips for your application 🫡
Understand the Role: Read the job description thoroughly to understand the key responsibilities and skills required for the Insurance Policy Executive position. Tailor your application to highlight how your experience aligns with these requirements.
Highlight Relevant Experience: In your CV and cover letter, emphasise your product management experience and knowledge of financial services, particularly insurance policies. Provide specific examples of your past work that demonstrate your ability to conduct competitor research and analyse findings.
Showcase Analytical Skills: Since the role involves analysing trends and making recommendations, include examples in your application that showcase your analytical skills. Mention any tools or methods you have used to integrate data from different sources.
Professional Presentation: Ensure your application is well-structured and free of errors. Use clear and concise language, and format your documents professionally. This will reflect your attention to detail, which is crucial for the role.
How to prepare for a job interview at Lloyd Recruitment Services Ltd
✨Know Your Products
Make sure you have a solid understanding of the insurance products offered by the company. Be prepared to discuss how these products compare to competitors and any recent trends in the market.
✨Showcase Your Research Skills
Highlight your experience in conducting competitor research and analysing customer feedback. Be ready to present findings from past projects or studies you've conducted, as this will demonstrate your analytical abilities.
✨Prepare for Technical Questions
Expect questions related to financial services and insurance policies. Brush up on relevant regulations, especially FCA compliance, and be ready to explain how you would apply this knowledge in your role.
✨Demonstrate Communication Skills
Since the role involves managing queries and presenting findings, practice articulating your thoughts clearly. Use examples from your past experiences to show how you've effectively communicated complex information to different audiences.
