Common Insurance Interview Questions

You pored over your resume to dot every “i,” so do not make the mistake of walking into your interview unprepared. Although it is true that you cannot predict exactly what the interviewer will ask, you can come in with a full arsenal of ideas if you have spent some time reviewing potential questions. You certainly should consider answers to general questions such as, “What can you tell me about yourself?” However, you should also be ready for industry-specific questions that the interviewer will ask to gauge your qualifications and see how you might fit into the company. Take a look at these five insurance interview questions and some sample answers to get ready to make the best possible impression on your big day.

INSURANCE Interview Questions and Answers (Insurance Clerk, Insurance Broker, Agent & Manager)

10. Mention a Time That You Failed in This Role and The Lesson You Learnt

Failure is common, especially in such a competitive world. However, your worth as a person or an employee is pegged on how you react to and move on after these challenges. Give an experience that is related to this field.

Sample Answer

I once lost a good client because our communication was inconsistent. He bought a few insurance policies and then went mute. He resurfaced and renewed them after a year, and I did not hear from him again. When I last checked, he had moved to a rival firm which was lauded because of its consistent communication with clients. I learned the importance of maintaining an open and consistent line of communication with clients even after purchasing products. This has helped me retain several clients and build long-lasting relationships.

insurance interview questions

In order to claim the policy, you have to fill up the claim form and contact your financial advisor from whom you have bought the policy. You have to supplement all the required documents like original payment receipt to your insurance company. If everything is ok, you will be paid within seven days of the policy claimed.

‘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’.

Incase 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.

Usually, Insurance Company gives a grace period of 10-15 days to the insured if they fail to pay the premium before the due date. Further, if you fail to pay a premium, then your policy will lapse. You can revive your policy by paying the outstanding premium along with the interest, counted from the date the policy got lapsed. Different Insurance Company has a different norm for reviving the policy.

After the policy is fully paid up, the company plans to use the cash value to pay your premium until you die. If you take the cash value out, the insurer will require you to pay the premium or reduce the amount of the death benefit so the remaining cash value will support.

18. If We Were to Request You to Handle Self Promotion and Advertising, What Are Some of the Techniques You Will Use?

Remember, despite being an insurance agent, you are still a salesperson. Convince the interviewer that you can promote yourself and the company, making you a good fit.

Sample Answer

I love the peace that comes with taking the initiative and working alone. However, selling insurance poses a delicate balance since you can lose potential customers if you rub off as too pushy. When promoting a company, I make sure that I have taken a strategic approach and highlighted the most positive aspects.

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