Interview Tips for Insurance

Here is the article for both recruiters and job seekers as I think this is the only sector where I have seen candidates and consultants rushing behind each other, candidates are not getting jobs and recruiters are not getting candidates.

This article covers many profiles but mainly it is for the job seeker applying for the position of Sales Manager, with different names in different companies

Business Manager – Aegon Religare

Sales Manager – Max New York, Metlife, Reliance Life, Bajaj Allianz, ING Vysya, Aviva

Business Development Manager – DLF, Tata Aig

Manager of Agency- Bharty Axa

Job in Insurance sector 75% depends only on one question though this is the nightmare for every interview (other then why you want to switch over) but here in the insurance this comprises the complete interview in itself “Introduce Yourself”. Either recruiter is screening you on phone or HR manager is taking your face to face interview other then few more questions you have to handle ‘your introduction’ as a small autobiography, one should keep the moto of the recruiter in the mind ‘what exactly he wants to know’. If it is a telephonic conversation then we have to give all information as per the recruiter needs in a calculative time. There is nothing new if I m discussing ‘introduce yourself’ here, as many articles talk about it, actually I want to make this topic more clear to you as per the consultant’s point of view

INTRODUCE YOURSELF –

Your introduction should include these questions in your mind when your are giving your interview.

Career History

What is the target assigned to you

How much you are able to achieve

What are your achievements

Your Last salary drawn

Your Last incentive achieved

What is your family background

Generally we include this information in our introduction but why, lets discuss it question wise

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Career History

In this question recruiters want to know about your

(a)Total years of experience and How many companies you have changed in these years

Its not only for your exposure in the market, it’s to check how stable you are, as in the current trend companies are open only for a stable candidate, they don’t want a ‘job hopper’ in their organization, as I have already mentioned in my earlier posts, please don’t add list of the companies in your resume just to increase your experience, or to show your exposure in different verticals. It becomes a bottle neck in itself, other then reducing the stability factor now you have to justify the change of fields also.

Achievements

How many appraisals or awards or promotions you received in your current company as well as in your career history

Salary and Incentive-

What is the mode of incentive in your company (Monthly, Quarter, Yearly)

Both of these topics should be included in your introduction to show your performance, you target chasing abilities and your growth potentials.

Family background-

Generally family details are not very much noticed in the interview but in the insurance sector this information can help you a lot to impress the interviewer

So include these details about your family

(a)About your parents

(b)No. of sisters and brothers, are they settled or not

(c)Where are your parents and relatives settled

(d)You are married or single

(e)You have responsibilities of your family (if single)

All these points are important to give an idea about your social network as SM /Advisor or any person in insurance need to have very strong network, circle and relatives should be working on such positions where they can help the candidate to make a good team and get the business for the company.

Why I m asking to include about martial status and responsibilities, generally companies are not very much interested in young (20-25yrs candidate for sales manager other then those companies where freshers are hired for the entry level profiles like ASM/FO/FE) and single person who doesn’t have any responsibility to take care of.

Few more important points for the interview

1. Now a days companies have started taking persons who are either born and brought up in that specific location or at least living there not less then 8-10 yrs, so if you are living there from around 4-5 yrs then make sure that you can show your excellent social network in that city so as to give enough regular business to the company

2. Companies are preferring candidates maintaining four wheelers other then two wheelers, after your introduction some where add these two points in your interview

3. This is very important point in the current trend, carry a list of at least 50-100 persons from your circle those who can work as an Advisor/Insurance Consultant in your team, place this list in front of the interviewer in between your interview. This list should have Name, Contact Number, Job Profile, and remark about their social Circle, Personality and Earnings (with a rough idea)

These persons should be around 30years of age, with a good social network

Many candidates avoid to carry this list with them but this plays a important role to clear the first round interview

4.Sometimes it is the second round of the companies in which they ask to carry this list (discussed above)or some (around 5-10) advisors with you to the branch office, so its better to talk to few of your friends about your interview and ask them whether they can come with you to the branch office if needed. Prepare your mind as the interviewer is surely going to ask to bring some advisors to the branch, it will not make you restless as you must be already prepared and you can do it as fast as never expected.

4. Salary Expectation-this is also a crucial point where you can be in or out, I mean to say try to avoid a fix figure about salary expectations in your first round interview, they can reject you on this ground only so better say a polished salary structure like: ‘As per the company norm or standard’, ‘30-40% hike’ (which is the most common hike given to the candidates) or you can also say ‘open for any reasonable offer’.

You can negotiate well in the final salary negotiation round with company HR manager, I always suggest candidates to show thier worth first then have your salary demand rather then getting rejected in the first round. If they are confident enough about your abilities then the company can negotiate well (keep in your mind generally its 30-40% hike only).

5. Interviewer can also ask for the business before joining, some candidates become uncomfortable to give any business before joining, but this is an another criteria to judge the perfect person and HR Manager gives offer letters once you show some business for the company.

6. Always try to reach in the first half of the day, HR managers are generally in good mood and also they will be present in the branch office, many times candidates are not able to give the interview as either HR managers are not present in the branch or busy in the meetings.

Hope this article will make your interview cracking easier, I will suggest you to read the post which is for the recruiters, you will come to know more about insurance.