Insurance account manager : Training

Insurance account managers generally undergo on-the-job training which focuses on their employer’s business, products and services. This is usually carried out through a combination of structured in-house training courses and shadowing experienced colleagues. Further familiarity is gained by performing the role and learning from colleagues (and clients) on an ongoing, informal basis.

Most insurance account managers gain one of the industry’s professional qualifications, if they have not done so already in a previous role. Increasing regulatory demands from the Financial Services Authority (FSA)  have made this all the more important. The Chartered Insurance Institute (CII)  provides a qualifications framework for those working in insurance. The qualification route is as follows:

• Award in Insurance - introductory programme consisting of the Foundation Insurance Test (FIT);
• Certificate in Insurance - for those entering the industry;
• Diploma in Insurance - for those with a growing knowledge of the industry;
• Advanced Diploma in Insurance - professional qualification for those with experience;
• Fellowship - the highest qualification provided by the CII, requiring completion of a structured professional development programme.

Other providers exist, including the ifs School of Finance  with its Certificate of Regulated General Insurance.

Some account managers also take other related qualifications in areas such as sales technique and people management. These types of courses are offered by many organisations including the Chartered Institute of Marketing (CIM)  and the Institute of Sales and Marketing Management (ISMM) .

Continuous professional development (CPD) is essential once qualified. The CII runs a CPD scheme which is required of all qualified members. Regular in-house training is followed by all insurance account managers.