Insurance agents sell insurance policies to customers on behalf of insurance carriers and brokerages. Agents must be familiar with the types of policies their agency sells, and help customers determine which policy best suits their needs. They should also have strong sales, marketing, and customer service skills in order to locate and attract potential customers. Insurance agents may sell one of many different types of insurance, including life, health, automobile, and liability insurance.
Agents who work for an insurance carrier sell policies only from that agency, while those who work for brokerages sell policies from a variety of insurance providers.
What Do Insurance Agents Do?
Insurance agents or brokers are middlemen between customers and insurance companies. They sell insurance policies to customers on behalf of their agency (the insurance company) they represent. Agents help customers determine what policy best suit their needs and therefore, must understand the types of plans offered by their agency.
Requirements For An Insurance Agent
It is possible to become an agent with a minimum educational qualification such as the SSCE. It depends on the agency’s requirements. No particular field of study is required to become an insurance agent, but those with a background in marketing, economics and finance may find it easier.
Becoming an insurance agent means you’ll need good sales, marketing and customer skills which would help you attract prospective customers and set you apart from the rest. So, having a prior qualification in this field will give you an edge in this profession. Nonetheless, you can still learn on the job as insurance companies offer training to their agents.
What Are The Job Prospects?
The Bureau of Labor Statistics projects that employment of insurance sales agents will grow by 10 percent between 2012 and 2020, which lines up with the average projected growth for all occupations. The BLS expects that job prospects will be best for agents who sell health and long-term care insurance and for those who provide financial planning services in addition to insurance sales.
What Are The Long Term Career Prospects For Insurance Agents?
Sales agents who gain experience can advance into senior sales and management positions within their agency or brokerage. Some agents find success working independently, running their own agencies.
How Can I Find A Job As An Insurance Agent?
There are many national and local insurance carriers and brokerages that you can contact for information about employment opportunities. Because success in sales depends on making connections in your community, having volunteer experience can be an asset in your job search. If you are unable to find a job right away, you may be able to build experience by completing an internship or taking a related job in the insurance field.
These days, insurance companies are always on the lookout for insurance agents and proffer the training needed to become one. The information above is a guide to what is to be expected if you’re thinking of a career path in insurance and hope to become an insurance agent.