What Every Beginner Insurance Agent Should Know?

Prior to starting a career as an insurance agent, you should be aware of a few things. While the possibility of a six figure income is possible for highly motivated agents, you also can fail. If you really want to be an insurance agent, focus on a daily routine of marketing in order to be successful in this business.

What Motivates You to Become An Insurance Agent?

First, why do you desire to become an insurance agent? For some, the answer is simple. If you have to think about the answer, the career is probably not for you. With the demands placed on an insurance agent, such as setting 15 to 20 appointments per week, writing new insurance and annuity business on a regular basis, and service calls to existing policyholders, an insurance agent must be flexible, hard working, and well organized. Again, the insurance agent business is not for everyone. However, a select few will become successful insurance agents.

Five Characteristics that Will Make You Successful as an Insurance Agent

Let us discuss further what makes a successful insurance agent. In my experience, the following five characteristics are shared by elite insurance agents:

1. Entrepreneurial Spirit - An insurance agent must have the mentality of a business owner, even if she or he is a captive agent. In order to be successful, an insurance agent will need to learn to focus on profitable business activities.

2. Good at Marketing – Good insurance agents can explain their business and why you should schedule an appointment with them, within 30 seconds. In addition, successful agents always carry business cards and a planner with them. They also make good use of their advertising dollars, whether the money is spent on a radio ad, mailers, or online insurance leads. Some experienced insurance agents are able to coach their clients into marketing for them; these clients refer their friends, family members, or colleagues to the insurance agents.

3. Good Public Speaker – Most successful insurance agents are good speakers. Therefore it is common for insurance agents to host seminars or to serve on panel discussions about insurance or financial planning.

4. Must be Intelligent – Insurance agents are not required to have a bachelor’s degree to become licensed to sell insurance[i]. Yet some of the insurance policies are so complicated that you must admire an insurance agent who understands the policies. The insurance agent will need to find an insurance policy that fits an individual’s needs based on his or her income, debts, and future goals. As a result, insurance agents not only must be good readers, but insurance agents also are required to become problem solvers.

5. Good Listener – Being an insurance agent is more than just making sales. The elite insurance agents are experts at listening to their clients’ concerns. While the client talks, the agent is writing notes, analyzing the problem, and seeking a solution.

Analysis

Hopefully, this article helps you to decide if an insurance agent’s career is right for you. If it is not, there are many other job opportunities within the insurance and financial service industry.