Things to Know Before Becoming an Insurance Agent
Becoming an insurance agent is an easy task but succeeding is not an easy job. Though there is no much qualification required to become an insurance agent, but it takes a good quality to convince people to buy something along with a decent graduation to understand, calculate, foresee and impress a prospective lead. If you get to understand the things to know before becoming an insurance agent, it would be lot easier for you to penetrate into the financial industry. This job often seems to be rosy as you are your own boss, earn a 5 digit income a month, flexible work schedules etc. Majority of these may be true but a potential hard work is required to achieve all these
Let us first understand the pre-requisites for becoming insurance agent
Excellent Public Relations
There are incidents where less talkative people have become insurance agents but for them to be successful, it takes a lot of efforts. Lively and flamboyant people tend to be more successful in this arena with excellent communication skills and public relations.
Network plays a crucial role in an agent’s success. Those who have a good network or those who can build up a good network make up the most. Friends, family and extended family, acquaintances or general public can be the prospective leads. Smartness to get all of these sources in touch is essential.
Good Calculation skills
While selling a policy, the agent should be capable of doing calculations and projecting the client’s financial condition after years. Good analytical skills should be an asset to the prospective agent and this is the foremost thing to know before becoming an insurance agent.
Of all the policy options available, the agent should be able to suggest the customized option to the client. A quick understanding and the ability to advise the utility of a policy to a client considering his/her financial condition is the key to selling a policy.
Post Sales service skills
Once the sale is made regular contact with existing customers helps in building relations and also gives chance to cross sell hence a skill which will help to maintain high retention of business
Once the above skills and conditions are loaded in a would-be agent, it is good to begin with. But there are few other things one should know before becoming an insurance agent.
There is no salary
Being an insurance agent is not a salaried job. Remember you can earn only commission for the policies you sell. The more policies sold, the more income you can generate and vice-versa. It is not the commission on top of a salary.
Don’t get ready for a fixed income
Though you start reaping a decent commission, it is definitely not fixed and keeps varying month on month. It just depends on your sales and hard work.
Learning is a continual process
As the policies keep changing with time and circumstances, your subject matter expertise is not static. You need to keep learning about the new inclusions on a constant basis. So, there is no seniority kind of thing over a period of time.
This article is to acquaint you with the possible scenarios as it is always essential to go for a ground work before you get into a new thing. As we said it is not rosy, becoming an insurance agent is not too difficult either with the above mentioned skills. A zeal for constant learning and the experience in handling people makes you competent enough over a period of time. Hope the article ‘The things to know before becoming an insurance agent’ clears your doubts and gets you started!!