An insurance risk manager is responsible for identifying the critical causes of loss and accidents that may result in increased insurance rates or deficiencies in cash flow for insurance companies, agencies, or brokerages. They recommend and implement precautionary measures for loss prevention and damage and associated cost reduction. Their responsibilities include surveying clients; assessing environments for safety infractions or other issues that could lead to litigation; inspecting work conditions; reviewing code requirements; and developing plans to minimize damages. Insurance risk managers compile the information they uncover into readable reports that usually include graphs, data, and statistics to support their findings. Insurance risk managers can work at insurance agencies or brokerages or for individual businesses and organizations, primarily in the financial sector.
Personality types of a Insurance Risk Manager
Each letter of DISC represents polar personality types with correlating behaviors and characteristics. Learn more about their strengths and weaknesses, how they communicate, and more.
Behavioral Qualities for a Insurance Risk Manager
Behavioral qualities make people naturally act in a certain way. Utilize people’s natural behaviors and strengths at work.
- Careful. Cautious and concerned with accuracy.
- Attentive. Caring for details and demands.
- Dependable. Able to be relied upon.
- Systematic. Creates/follows structured processes.
Motivators for a Insurance Risk Manager
Motivators are values that drive people. To retain passionate employees, place people in a role that utilizes their values.
- Economic: A utilitarian drive for results and maximal returns. To tend to the economic drive, assign tasks that directly relate to the bottom line.
- Regulatory: A drive to maintain order and the status quo. To tend to the regulatory drive, provide plenty of structure and insurance processes for them to follow.
- Theoretical: A drive to learn and gain new knowledge. To tend to the theoretical drive, allow them to develop their professional skills and grow in their knowledge of the insurance industry.
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