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Business Development Apprentice Westminster Insurance Ltd

Gaining great experience dealing with customers and organisations, which will promote a deep understanding of the insurance products, terms, conditions and underwriting constraints, whilst raising our profile and market penetration. Gaining a good understanding and experience of many aspects of the insurance industry.

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Closing date: 30 Aug 2022

Apprenticeship summary

  • Annual wage

    £10,920.00

    Plus commission based on number of policies sold, and annual bonus.

  • Working week

    Mon – Fri 9am to 5pm

    Total hours per week: 35

  • Expected duration

    12 Months

  • Possible start date

    01 Sep 2022

  • Date posted

    14 Jul 2022

  • Apprenticeship level

    Advanced
    Level 3 (A level)

  • Reference number

    VAC1000061358

  • Positions

    1 available

What will the apprentice be doing?

  • Customer Service.  Many customers phone in with questions about coverage offered and the ability to answer them requires a very good understanding of the policy terms and conditions (we offer Professional Indemnity, Public Liability, Medical Malpractice, Office Contents, Portable Business Equipment, Personal Accident, Employer Liability and Cyber).

  • Identifying, Engaging and Monitoring Introducers.  We work with many organisations (training schools, membership organisations, accreditation bodies etc) who recommend us to their customers.  Research is required to identify organisations whose customer profiles make them suitable for our insurance.  Contact must then be made with the organisation to see if they will agree to partnering with us.

  • Approving Referred Quotes. There are certain trigger points within our application that prevent the automatic quote process and create what we refer to as a Referred Quote.  This can be for one of a number of reasons. In each of these cases, we need to evaluate the information provided by the customer, contact them for further information when necessary and make a decision on whether we will underwrite the policy.  For many of these we can make that decision ourselves.  In some cases we will forward our recommendation to the Insurers for their agreement.

  • Processing New Business Practice applications.  Westminster insures almost 600 different types of business practice in many fields and are constantly adding to this list (eg FPOS/Pre-Hospital Provider, Nappage Technique, Botox, Accupressure).  Often, we become aware of the need to add something based on requests from customers.  At this point we need to carry out research into the business practice, to learn exactly what it is, what is involved in the process, what risks there are, what is a ‘brand/copyrighted’ name and what is a generic term, and what qualifications/experience is generally attached to it. 

    We then construct a ‘definition’ which is a summarised description of the business practice, together with the level of qualification we feel should be required and the Premium Rates that should be applied (based on our evaluation of the risk involved).  This is submitted to the Insurance Underwriters for their final approval.

  • Policy Wording.  The policy wording is co-written by us and the Insurers, and needs to be periodically reviewed.

  • Processing Claims.  Claims are handled by an outside company, but we are the initial point of contact and have to ensure we obtain the relevant information before passing onto the Claims company.  We need to maintain records of claims made and compensation paid out.

  • Quality Control.  Sample checking of issued policy documentation to ensure that the details and premium charged are correct.

  • Complaints Handling.  Sending official response, reporting to Insurer/Lloyds, investigating complaint and creating full response with recommended outcome – eg refund.

 

 

What training will the apprentice take and what qualification will the apprentice get at the end?

Insurance Practitioner level 3

Duration
The apprenticeship will typically take between 12 and 18 months to complete.

Level
This apprenticeship standard is at Level 3.

Qualifications
Where a business administrator has not already achieved Level 2 English and Maths, they must do so before taking the end-point assessment.

Career progression
The administration role may be a gateway to further career opportunities, such as management or senior support roles.

What is the expected career progression after this apprenticeship?

  • Taken on as fully employed member of staff who we hope would remain with us for many years and help to grow the Company.

Requirements and prospects

Desired skills and personal qualities

Communication skills, IT skills, Attention to detail, Organisation skills, Customer care skills, Problem solving skills, Presentation skills, Administrative skills, Analytical skills

Qualifications

GCSE or equivalent Maths and English (Grade Grade A-C/8-4) Essential

Things to consider

We are a small company with regards to employees, but due to that it means we offer a high level of training and support with the opportunity to get involved in multiple aspects of the business. We are a dedicated, hard-working team of people who work closely together, and all feel a part of the business.

About the employer

Westminster Insurance Ltd is a Lloyds Coverholder with Delegated Authority to bind business on behalf of the Underwriters based on pre-agreed terms. We work hand-in-hand with the insurers on creation of policy wording, calculation of rates, business to be underwritten etc. Our insurance application and purchase is fully online, however we still have a lot of interaction with customers prior or following the quotation, and there are applications which fall outside of the pre-agreed terms which we have to evaluate. We are B2B, but many of our customers are sole-traders/small businesses who require a lot of support. We provide the following business insurance: Professional Indemnity, Public Liability, Medical Malpractice, Office Contents, Portable Business Equipment, Personal Accident, Employer Liability and Cyber We also work with insurance programs in the US and Canada.

Employer

Westminster Insurance Ltd

Address

5 ALLBERRY GARDENS

PRESTON

WEYMOUTH

DT3 6SQ

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Training

Training provider

BABINGTON BUSINESS COLLEGE LIMITED

Contact

Jamie Dobson

Jamie.Dobson@babington.co.uk

Apprenticeship standard

Insurance practitioner

Level 3 (A level)

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