Insurance is an agreement between two parties in which one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party called insured a fixed amount of money on the happening of a certain event. Nowadays insurance industry is growing very rapidly.
In this article I would like to provide you some important interview questions that are frequently asked to people who want to make career in insurance.
1. What do you mean by general insurance?
All the insurance other than ‘Life Insurance’ falls under the category of general insurance. Insurance of property against fire, burglary, personal insurance such as accident and health insurance and liability insurance come under this category.
2. According to you who all should buy general insurance?
According to me anyone who owns an asset can buy insurance to protect it against losses due to fire or theft and so on. Each one of us can insure our and our dependents’ health and well being through hospitalization and personal accident policies. To buy a policy the person should be the one who will bear financial losses if they occur.
3. What are different kinds of policies?
Well, there are different kinds of insurance policies available in market such as life insurance, vehicle insurance, home insurance, travel insurance, health insurance etc.
4. How will you estimate the premium of an insurance policy?
The premium of an insurance policy will depend on the sum assured. Sum assured is the total amount that you insure. Normally a policy should cover the value of the asset - either the market value while insuring, or the cost of replacing the asset.
5. Please elaborate some of your skills and qualifications?
Well, I have excellent ability to access any investment plan and evaluate degree of risk involved in it. I have specialization in life, health, property, and casualty field of insurance. I possess very good troubleshooting skills, customer service skills, interpersonal, management, organizational and problem solving skills.
6. Why did you join the insurance sector?
The answer to this question will differ from person to person. The finest way to answer this question is to be as aware of your industry as possible. Talk about facts and figures like the size of the industry, how it is growing and annual growth rate is a nice way of explaining your motivation for joining insurance sector.
Well, these are some important questions that are frequently asked in interviews for this post. Do not forget to say “Thank you” to the person or people who interviewed you. All the best to all the prospective candidates!
