Profession insurance collector

Insurance collectors collect payment for an overdue insurance bill. They specialise in all areas of insurance such as medical, life, car, travel, etc and recurrently contact individuals to offer payment assistance or to facilitate payment plans according to individual's financial situation.

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Personality Type

  • Enterprising / Conventional
  • Conventional / Enterprising

Knowledge

  • Insurance law

    The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.

  • Types of insurance

    The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.

  • Debt systems

    The processes needed to obtain goods or services before payment and when a sum of money is owed or overdue.

  • Debt collection techniques

    The techniques and principles used to collect overdue debt from customers.

  • Credit card payments

    The methods involving payment done through credit cards.

Skills

  • Identify clients' needs

    Identify the areas in which the client may require aid and investigate the possibilities for meeting those needs.

  • Create cooperation modalities

    Prepare, determine and agree on the conditions for cooperation contracts with a company, by comparing products, following evolutions or shifts in the market and negotiating terms and prices.

  • Perform debt investigation

    Use research techniques and tracing strategies to identify overdue payment arrangements and address them

  • Maintain client debt records

    Preserve a list with the debt records of clients and update it regularly

  • Obtain financial information

    Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

  • Maintain records of financial transactions

    Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.

  • Analyse financial risk

    Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

  • Handle financial transactions

    Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.

  • Provide support in financial calculation

    Provide colleagues, clients or other parties with financial support for complex files or calculations.

Optional knowledge and skills

analyse insurance needs review investment portfolios develop investment portfolio manage contracts apply technical communication skills analyse insurance risk review insurance process principles of insurance actuarial science claims procedures create insurance policies insurance market handle financial disputes

Common job titles

  • Insurance follow up rep ii
  • Insurance collector
  • Mso insurance collector
  • Health insurance analyst
  • Insurance biller/collector
  • Insurance coordinator