Insurance Sales Agents
Insurance sales agents sell life, property, casualty, health, automotive, or other types of insurance. They refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
Insurance sales agents are salespersons who sell insurance policies. They customize financial products or services to meet customer needs, sell products or services, explain financial information to customers, maintain records of sales or other business transactions and take product orders from customers. Many insurance sales agents also diversify their income by offering financial planning services to clients who are preparing for retirement or may set up investment or pension plans.
An insurance sales agent must have a high school degree followed by a bachelor's degree. However, someone who possesses vital talent and experience in sales and has just passed out of school is eligible to become an agent.
In most insurance sales agent job description, one works at offices, and many may spend much of their time travelling to meet with clients. Their work environment always varies depending on the company that employs them.
Insurance agents’ salary differentiates and depends on the industry in which the agent is working and the geographic location. Insurance sales agents who work for direct medical and health insurance tend to make more than other agents.
To be successful in insurance sales, one must possess in-depth knowledge of insurance products and people skills while maintaining customer relations. Additionally, entrepreneurial spirit, numeracy, analytical skills, a pleasing personality and honesty are desirable.
Qualifications
Every career requires an element of study and academic qualification, and there can be several study routes and pathways you can take. In following any academic pathway you will study subjects that contribute to the specialised knowledge required to achieve your career goals. These qualifications provide a future employer with the evidence that you have the desired knowledge, understanding and experience of their industry, so it’s important to consider the various types of qualifications available to you and to understand how they can boost your career and create opportunities for you.
- ITI Course Insurance Agent
Tasks
- Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
- Calculate premiums and establish payment method.
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
- Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
- Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
- Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
- Contact underwriter and submit forms to obtain binder coverage.
- Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
- Confer with clients to obtain and provide information when claims are made on a policy.
Progression Routes
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