Sales manager, insurance

What does a Sales Manager in insurance do? – Tasks and work environment

A Sales Manager in insurance leads and develops sales teams that sell insurance solutions to individuals and companies. The role includes responsibility for setting sales targets, monitoring results, recruiting and training salespeople, and developing and implementing strategies to gain market share and profitability. The work is often conducted in an office environment and involves close contact both internally and externally, such as with product developers, marketers, and major clients. Insurance sales managers often work at a fast pace with a clear results focus, where leadership and the ability to motivate others are central qualities.

Salary development over time

The salary for a Sales Manager in insurance has steadily increased in recent years. In 2022, the average salary was 47,400 SEK per month, rising to 49 500 SEK in 2023 and further to 51 300 SEK in 2024. The total increase corresponds to a salary growth of approximately 8.2% over the period. Driving factors behind this salary development include increased competition for experienced leaders, greater demands for digital competence, and an overall strengthened job market within the insurance sector. Differences in demand between regions and company size can also influence salary levels, but the trend clearly shows that skilled sales managers remain highly sought after.

Sales Manager in insurance salary – comprehensive overview

• Average salary: 51 300 SEK/month
• Lowest salary: 42,300 SEK/month (female, high school education, private sector)
• Highest salary: 65,700 SEK/month (male, post-secondary education, private employment)
• Hourly wage: 309 SEK
• Gender differences: Women earn 85% of what men do (women: 47 200 SEK, men: 55 600 SEK)
• Regional differences: Salary levels vary mainly between metropolitan regions and smaller towns

Education and qualifications

To work as a Sales Manager in insurance, a post-secondary education in economics, sales, or a related field is usually required. Many have also supplemented their education with insurance-specific courses and leadership training. Relevant work experience, especially within insurance and sales, is often a basic requirement. Those aiming for managerial positions typically have experience in personnel management and documented sales results.

• Post-secondary education: E.g., economics or sales, at least 2–3 years
• Certifications: Insurance-specific certificates and licenses
• Internship/Trainee: Common in larger insurance companies
• Leadership training: Often meritorious or mandatory
• Work experience: Several years of sales and personnel management experience

Common benefits and compensations

In addition to base salary, insurance sales managers often receive performance-based bonuses, occupational pensions, wellness allowances, company cars, and sometimes additional vacation days. Flexible working hours and remote work options may also be available, along with insurance solutions for the employee and their close ones. In some cases, training grants and extra vacation days are offered depending on the employer and collective agreements.

Competition and challenges

The competition for leadership positions in insurance sales is intense, especially in larger cities and among leading insurance companies. High demands are placed on both results and leadership abilities, and continuous updating of knowledge in insurance technology and sales methodology is essential. Rapid changes in regulations and digitalization require sales managers to be adaptable and proactive to maintain competitiveness. The industry is also cyclical, which can affect budgets and recruitment opportunities.

Tips for aspiring insurance sales managers

To succeed as an insurance sales manager, it is beneficial to combine goal orientation with strong analytical skills, as the role requires both clear management and the ability to interpret figures and trends. Being communicative is essential, as it involves motivating the team and building relationships with clients and partners. A proactive approach helps when industry changes happen rapidly, and good negotiation skills are important for driving deals and creating long-term collaborations. Investing in ongoing skill development and staying updated on new digital tools gives extra advantages in your career. Leadership skills and resilience are also characteristics that often distinguish the most successful sales managers.

Key facts about Sales Managers in insurance

• Educational level: Post-secondary education, often in economics or sales
• Work environment: Office-based, often fast-paced with results focus
• Typical employment: Full-time, sometimes with flexible hours
• Demand: 758 job openings in spring 2024
• Special skills: Leadership, insurance law, and digital sales

Career paths and future prospects

After three to five years in the role of insurance Sales Manager, it is common to advance to higher management positions, such as Sales Director, Business Area Manager, or CEO within the insurance industry. There are also opportunities to specialize in different insurance areas or work internationally. According to the Swedish Employment Service’s forecast, there is no specific assessment for insurance Sales Managers, but within the profession of insurance salespeople and advisors, there were 758 job openings in spring 2024. The industry is stable but influenced by digitalization and changing customer behaviors, so the demand for skilled leaders is expected to remain strong.

Frequently asked questions about Sales Managers in insurance

• What does a Sales Manager in insurance earn?
  - The average salary is 51 300 SEK per month, with variations depending on experience, education, and gender.
• What are the gender differences in salary for a Sales Manager in insurance?
  - Women earn an average of 47 200 SEK, while men earn 55 600 SEK, which means women earn 85% of men's salaries within the profession.
• What education is required to become a Sales Manager in insurance?
  - A post-secondary education in economics or sales is common, sometimes supplemented with insurance-specific certifications and leadership training.
• What career paths are available after a few years as a Sales Manager?
  - Possible steps include Sales Director, Business Area Manager, or CEO within insurance and finance.
• What is the job market like for Sales Managers in insurance?
  - There were 758 job openings in spring 2024, indicating strong demand.
• What are the most common benefits?
  - Bonuses, occupational pension, wellness allowance, company car, and sometimes extra vacation days.
• What factors influence salary the most for a Sales Manager in insurance?
  - Education level, experience, employer, region, and gender significantly impact salary levels.