Insurance claims manager to insurance product manager
An insurance claims manager already meets 67% of what the insurance product manager role asks for. The move turns on 7 required skills not yet in the profile.
40.3/ 100
1 How much of what an insurance product manager is expected to do is already part of an insurance claims manager’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the insurance product manager role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance product manager role treats 19 of its required skills as things an insurance claims manager already does. You would walk in with these on day one.
- advise on financial matters
- analyse financial performance of a company
- analyse financial risk
- analyse market financial trends
- corporate social responsibility
- create a financial plan
What stands in the way is 7 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 23 skills that carry over, these are the ones fewest other occupations ask for. An insurance product manager role needs them, and most people applying for one will not have them already. This is the part of an insurance claims manager background worth leading with.
- already held create insurance policies communication, collaboration and creativity
- already held insurance market business, administration and law
- already held insurance law business, administration and law
- already held principles of insurance business, administration and law
- already held types of insurance business, administration and law
- already held enforce financial policies management skills
All 23 carried skills, including the 19 the insurance product manager role treats as required.
Table 3 · What you may need to learn
The 16 missing skills fall into 5 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn sales strategies required
- still to learn financial products required
- still to learn marketing management required
- optional, not held modern portfolio theory optional
- still to learn develop financial products required
- still to learn supervise sales activities required
- still to learn plan marketing campaigns required
- optional, not held develop investment portfolio optional
- still to learn promote financial products required
- optional, not held deliver a sales pitch optional
- optional, not held sell insurance optional
- optional, not held create cooperation modalities optional
- optional, not held review investment portfolios optional
- optional, not held obtain financial information optional
- optional, not held perform market research optional
- optional, not held statistics optional
Table 4 · Where to start
The 3 entries an insurance product manager role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 develop financial products practise this
- 02 promote financial products practise this
- 03 sales strategies study this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 23 skills that carry over
- already held advise on financial matters skill
- already held analyse financial performance of a company skill
- already held analyse financial risk skill
- already held analyse market financial trends skill
- already held corporate social responsibility knowledge
- already held create a financial plan skill
- already held create insurance policies skill
- already held enforce financial policies skill
- already held financial analysis knowledge
- already held financial management knowledge
- already held financial statements knowledge
- already held follow company standards skill
- already held insurance law knowledge
- already held insurance market knowledge
- already held liaise with managers skill
- already held manage financial risk skill
- already held principles of insurance knowledge
- already held strive for company growth skill
- already held types of insurance knowledge
- already held ensure cross-department cooperation skill
- already held manage staff skill
- already held plan health and safety procedures skill
- already held recruit employees skill
9 supplementary skills, helpful but not required
- optional, not held deliver a sales pitch optional
- optional, not held sell insurance optional
- optional, not held create cooperation modalities optional
- optional, not held develop investment portfolio optional
- optional, not held modern portfolio theory optional
- optional, not held obtain financial information optional
- optional, not held perform market research optional
- optional, not held review investment portfolios optional
- optional, not held statistics optional
18 held skills the insurance product manager role does not ask for
- not needed by the target role analyse claim files skill
- not needed by the target role analyse insurance risk skill
- not needed by the target role apply technical communication skills skill
- not needed by the target role assess customer credibility skill
- not needed by the target role conduct financial audits skill
- not needed by the target role estimate damage skill
- not needed by the target role fraud detection knowledge
- not needed by the target role handle customer complaints skill
- not needed by the target role handle financial disputes skill
- not needed by the target role handle incoming insurance claims skill
- not needed by the target role initiate claim file skill
- not needed by the target role lead claim examiners skill
- not needed by the target role manage claim files skill
- not needed by the target role manage claims process skill
- not needed by the target role manage contract disputes skill
- not needed by the target role organise a damage assessment skill
- not needed by the target role prepare financial auditing reports skill
- not needed by the target role review insurance process skill
5 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn sales strategies required
- still to learn financial products required
- still to learn marketing management required
- optional, not held modern portfolio theory optional
- optional, not held statistics optional
Common questions about this move
Can an insurance claims manager become an insurance product manager?
Yes, and it is a moderate move. An insurance claims manager already covers 67% of what an insurance product manager is expected to do: 23 skills carry over, 19 of which the insurance product manager role treats as required.
What skills does an insurance claims manager need to become an insurance product manager?
7 required skills are missing, plus 9 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by business, administration and law. The single most important is develop financial products.
How hard is the move from insurance claims manager to insurance product manager?
Its learning distance is 40.3 out of 100, which is the moderate band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.