Insurance Sales Agent Job

This is an exciting and challenging position for an Insurance Sales Agent. Your main objective is to be able to sell products to the customers which they can afford and has an option to buy and then get their quotes together and provide them to the clients to assess their options. You will have to attend sales training and have customer service skills. An insurance sales agent’s role is to promote and sell the insurance to clients. They also deal with the company’s policy holders and attend to the needs and insurance requirements of the people. In between, the agent also undertakes the following duties:

  • Achieves new business and recruit new clients
  • Collaborates with the local branch office to meet new client demand
  • Develops long-term client relationships
  • Researching and understanding new insurance products
  • Involving themselves in the full scope of policy and its various features, benefits, alternatives, terms and conditions
  • Maintains client’s confidence and provide complete satisfaction
  • Create a good impression of their company by way of active follow-ups with all of their clients
  • Uses right selling techniques, conducts research in the field and treat their clients well

The Person in Charge

Insurance sales agents are responsible for buying and selling residential and commercial property and casualty, and life insurance for a contracted quota. Sales agents are contacted via phone, email, or personally to receive orders from policyholders and provide quotes and manage paperwork. The benefits of working for a real estate brokerage or insurance sales company are the great job stability and the work-life balance that they offer you. If you want to get paid and not work crazy hours, you should look for a position at a real estate brokerage or insurance sales company. They are also the most popular business to become a sales agent for and you can also make a good amount of money with them. As mentioned above, as an insurance sales agent, you must handle various tasks such as:

  • Setting up the company’s client list
  • Coaching clients and helping them buy insurance
  • Constructing an understanding of the insurance

Insurance Information Courses

Insurance Information Course (IIC) is a short-term course that is conducted in a branch office or other city office. The purpose of this course is to impart knowledge and information about insurance to students and learners so they can get exposure to insurance and its products. This course is mainly taught in 12 weeks in which 3 lessons are taught per week and on the days one week of the course has two lessons, two lessons are given to the students. The truth is, insurance agents are not salespeople, but rather in-house sales managers and directors that, in turn, operate within an insurance sales team. They are skilled individuals that have the gift of convincing people to buy a policy they might not otherwise buy.

Some insurance agents have been described as being the second-largest class of sales representatives, next to salespeople in the financial services industry. It is also important to note that insurance agents, especially in the commercial markets, may work in-house or out of a business entity, such as a consulting firm. In either scenario, they are required to be able to convince clients to buy specific types of insurance, and may also represent companies in the process of buying or selling insurance, as well as doing specific processing and underwriting tasks.

Benefits of Insurance Sales Agent Job

Even though agents are not salespeople, they do often work under a commission structure. At this level of sales, the commissions are a bonus to the sellers rather than a part of the sales price. Many people think that agents make a great deal of money. The truth is, most people who buy insurance in this industry also have a job. In fact, they have several jobs, and you won’t often find them putting in 50- to 70-hour weeks. In reality, insurance agents have a combined net worth of more than $1.3 billion, with wealth concentrated among the top 1 percent. The benefits of an insurance agent job are more. While some jobs in this industry can be both lucrative and demanding, the daily lives of insurance agents are far less stressful than those working in other fields, particularly their counterparts in the financial services industry. Here’s why:

1.     The emphasis is on building relationships.

There are two types of relationships that have long-term consequences: those that are based on love and those that are based on hate. Even though it may seem counterintuitive, insurance agents are trained to build relationships, which not only lead to high profits in the short term, but are also in their best interests long-term. Agents, for example, often have to contact clients in advance to set up appointments, and must spend a lot of time following up on those appointments. All of this requires building strong relationships with the clients in their clients’ best interests.

2.     The payoff can be dramatic.

“If the agent is friendly and makes you feel welcome, you are far more likely to take the insurance policy that he’s recommending.” -Edward Holden, former owner of North Florida Insurance and Insurance Brokerage. In addition, most of the insurance companies will send their own agents out to sign up their own clients. In order for insurance agents to meet or exceed this requirement, they must contact other agents, going out on their own, with the sole purpose of signing up other agents. All of these activities require a high degree of customer service, which is a skill that doesn’t generally develop while working with your boss in a cubicle.

3.     Insurance agents make a great living, and they get paid more than many other jobs.

Each state has an insurance agent code of conduct. In Michigan, there are 38 codes of conduct. Many of them encourage working overtime, and some even ask that agents take on additional commissions when agents take on other duties for the company. In one instance, an agent took a call for a personal injury claim on a client’s behalf. The client lived in Alaska, and the agent had to spend a day traveling there. In this situation, the agent received a commission for the trip, but was penalized $20 for the return trip home.

4.     Agents work in several different sectors.

We know that agents have a hard time finding work, which makes sense, since they can expect to be paid less than many other professionals. In addition to insurance agents, there are also real estate agents, pet sitters, insurance brokers, and financial planners. While some of these occupations share some common traits, such as the need to speak in the third person, it doesn’t mean that insurance agents are necessarily more or less competitive in the industry. Many of these careers are seen as highly competitive, and are in fact competing for the same pool of candidates.

5.     Agents don’t want to be insurance agents.

A new trend in the insurance industry is to outsource certain types of work to the agent. For example, many people who are already at least partially insured have additional coverages such as disability, cancer, or medical benefits that an agent should be the one to set up. Although it may sound like a “no-brainer,” many insurance agents are still not willing to handle these additional coverages for free.

6.     Insurance agents often switch jobs every few years.

“While not the most challenging career, insurance is a great, long-term business if you have the talent and integrity to work hard, and understand that the insurance industry is constantly changing. Make sure to network and keep yourself in the loop about upcoming industry developments.” -Stephen Morrow, retired lead senior vice president, Validus Risk Solutions.

Despite these fears, insurance agents really are a very resilient breed of worker. The insurance industry is an unpredictable one, and there are opportunities to work with many different types of insurance companies, and work hard and change jobs quickly and successfully. As far as most insurance agents are concerned, the job is just part of the journey, and not the destination. Insurance agents are paid by commissions, which means that their best interests may diverge from the interest of the company that the agent works for. By the same token, working for insurance companies with good reputations may not necessarily be in the best interests of the agent.

The truly remarkable thing is that an insurance agent can build such an excellent reputation, and still have a hard time finding a job, even when he or she is the most capable person for the job. Agencies that specialize in selling property and casualty insurance have sales agents work a similar work-hours and often they have flexible schedules as well. It’s better to work for a property and casualty company since they are more serious about the business, but also the insurance sales agents have a lot of flexibility, too. You’ll also get a wide variety of jobs available in your area.

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