how to be a good insurance agent

They delegate work to support staff in order to stay focused on relationship and revenue generating activities. Insurance agents are unique – just like the customers they serve. Spend time with any five other these agents and you’ll be even more of Rockstar than you already are today. But if hearing from other insurance agents doesn’t get you jacked up, I’ll leave you with the immortal words of Arnold Schwarzenegger: Get regular hits of insurance inspiration delivered to your inbox. Don’t get me wrong, many organizations want your money, but until you show up, and give of your time, you are just like the rest. Auto insurance agents either work independently or for insurance companies. When you have it, when you believe deep down in delivering value before ever asking for it in return, an entire new world of opportunity opens up. Highly effective insurance agents understand that the secret to success is in the numbers – good or bad – because those numbers always have something to teach us. Some agents practice financial planning, income tax preparation, or some other avenue of financial service as their primary profession, and then add-in insurance business when it becomes necessary. Why are some insurance agents successful, while others flounder? A good agent is tactful and knows how to help a client see financial reality clearly, even when the client is dead set against it. The simple act of returning a phone call can set you apart. The offers that appear in this table are from partnerships from which Investopedia receives compensation. – Eric Narcisco, CEO of Effective Coverage, Albany, NY. Their main job is to sell insurance policies to car owners. The average insurance agent can‘t handle the truth. Highly effective insurance agents measure everything, not just the value of the closed business at the end of the month. 2. When times get tough, the unsuccessful want to circle the wagons and hunker down into safe and cozy, “Way it’s always been.”. The key to being a good insurance agent is putting the needs of the client first. As the old saying goes, if all you have to work with is a hammer, then everything in the world looks like a nail. Tom’s answers set the foundation for every well run agency in our industry. Many career paths don’t even offer a part-time option, but lucky for you, the insurance industry encourages it. Insurance sales jobs are highly stressful with little pay guarantee and is an industry with a high quit rate. A good insurance agent will be able to offer a comprehensive selection of products and services that can meet any reasonable need a client might have. Insurance agents can acquire useful information by being a good listener. 6. Health insurance agents sell medical, dental, and life insurance to potential clients by explaining different policies and coverage options, and then helping them select and purchase suitable plans. If that is at the core of every action, you’ve created a self-sustaining habit engine that is always compatible with the latest fuel source. Rather than give up, highly effective insurance agents concentrate on all the reasons they can succeed. Still, all good insurance agents share some of the following skills and knowledge, plus core qualities in one way or another. Technical know-how. Highly effective insurance agents understand that the secret to success is in the numbers – good or bad – because those numbers always have something to teach us. Highly effective insurance agents believe failure is another step on the road to success. It’s the little idiosyncratic routines, methodology and philosophies which dictate their daily activities which create highly effective insurance agents. In the history of selling insurance, there hasn’t been a shift this big in where our prospects are researching and buying insurance. Quantifying and evaluating every sales activity with every customer will help uncover the truth and point the way to more success in a way that simply counting the money can never do. My thoughts are; givers gain, it’s a BNI term, but it’s so true. It gives me an opportunity to add value and my personal touch to that person in an otherwise transactional business. An agent explains various insurance policies and helps clients choose plans that suit them. Smartphones and social media have made it harder to find time to work on projects without distraction.Â, But not for me.  Every day, I set aside two one-hour slots to do what I call a “jam session.”Â, This is time when I put my phone on sleep mode, close my email, close the door to my office, and work on projects that are most crucial for my business’ success.  I find that as long as I do my jam sessions, the most important work of the day gets completed.Â. If you want to be effective you have to commit and implement. Because when someone reaches out to me, it’s because they couldn’t find an answer by themselves. It started when I was 26 years old and dedicated myself to working out everyday. They may work in either city or country areas. The 7 habits listed above are a great place to start. A good insurance agent should possess the following characteristics: Knowledge. – Jeff Root, Owner at Rootfin, LLC, Austin Texas. Starting off as a property and casualty insurance agent is a challenging a long process. One of the most important traits of a good insurance agent is that they appear to be excited and eager at all times. They know how to embrace hustle mode when it is necessary. An agent who is only out to earn a commission, regardless of the needs of the client, is not likely to last long in the business. The most successful independent insurance agents on this planet are highly focused. So by delegating those smaller tasks, I’m able to focus on the bigger picture and the execution of that bigger picture. Technical know-how. It’s easier than ever to get distracted. Insurance sales agents help insurance companies generate new business by contacting potential customers and selling one or more types of insurance. – Linda Rey, Agency Owner, The Rey Insurance Agency, Sleepy Hollow, NY. A good insurance agent knows much more than how to sell a policy. This is perhaps the most vital quality of any good insurance agent. They are uncomfortable with sales pipeline reviews and evaluation sessions because results are sporadic and unpredictable. So you should do and not talk and when you fail, start again from a different angle. Being a “Hungry” insurance agent means never looking back at work not done with regret for unachieved goals. – Alexander Dopazo, Partner at Dopazo & Associates, Miami, FL. In a 24/7 world, our agencies must have basic function and communication capabilities whenever prospects and clients demand. Final expense insurance is a whole life insurance policy that has a small death benefit and is easier to get approved for. Highly effective insurance agents know the world isn’t all sunshine and rainbows. The hours can be erratic and salary varies. I lock myself away for a 30 min window and be real about my week. A timely response to inquiries and phone calls is a must, and you must be able to do what you say you will do when you say you will do it, or at least have a good reason as to why you can't. But remember insurance agents don’t get any salary or fixed income. Return their phone call! A captive agent sells insurance for only one company. Important Qualities for an Insurance Agent to Have. And always willing to ask until someone says no at least 5 times that’s not quitting. 4. These items above are just some of the qualities that life insurance agents must possess in order to be successful. Starting off as a property and casualty insurance agent From then on I had the confidence to know I could challenge myself to find the best way do to anything. Strong computer skills : Agents need to use various software, including Outlook, Word, Excel, agency management software, and insurance … Building a successful insurance career isn’t always easy. As an insurance agent, you have your choice in selling life, health, disability, casualty and long-term care insurance policies as well as financial planning services, such as annuities or securities. I have no problem jumping in and giving it my all. The most successful agents I know make at least 1 hour per day dedicated to online marketing and the trick is carving out that time and making it a routine every working day. Persistence. You must go out into the world and find the habits that lead to your success. When home with your family-enjoy them. Sticking with a habit because it’s a habit is good, sometimes, other times not so much. For good measure, I asked Tom Minkler, one my all-time favorite independent insurance agents, about the habits of a highly effective insurance agency. In real estate, a short sale is when a homeowner in financial distress sells their property for less than the amount due on the mortgage. One gives me confidence without the fear of learning or doing unconventional new things, while the other makes me desperate, humbled and hungry to always learn things in order to be successful. – Nathan Bunty, Managing Partner at Heritage Insurance Agency, Lancaster, PA. GEICO and the others will never be a part of your community like you can be. You can’t fake a desire to add value to other people’s lives. Most insurance agents work on a commission basis, with the level of business dependent upon the level of general economic activity. I think as agents we’re trained to be risk averse, but that shouldn’t stop us from taking calculated risks in our own businesses. – Chris Huntley, Agency Owner, Huntley Wealth and Insurance Services, San Diego, CA. The life insurance business can be very challenging and immensely rewarding for those who are willing to learn the necessary skills to build their business. You may focus on policy price when choosing an agent, but that can be a mistake, says Jack Hungelmann, veteran agent/risk manager and author of "Insurance for Dummies." Although most insurance sales agents work for insurance brokerages selling the policies of several companies, some work directly for a single insurance company. For agents who have gone the captive route and are now beginning their career as independent, it's a good idea to build your book of business as much as possible before seeking new carrier appointments. – Sharon Robles, Agency Owner, Sharon Robles Agency, Chicago, IL. To me, it’s a lot easier to build a relationship when you are face to face. And, when they have a claim – be there for them. Highly focused people are simply mindful. A stockbroker is an agent or firm that charges a fee or commission for executing buy and sell orders for an investor. Steve Jobs has a little something to say on the importance of persistence and perseverance: The habits listed above are great, but what about habits for the agency as a whole? A good agent will know how to handle objections with rebuttals, prospects changing their mind, losing opportunities and last-minute changes. If you're under 18 you can spend some time volunteering in an insurance agency to get hands on experience and general knowledge about the insurance field. One huge perk of becoming an insurance agent part time is you can see if this job’s a good fit for you with minimal risk. Rather than pushing the hard sell, they sit with clients and understand their needs. Many agents earn financial planning designations such as the Certified Financial Planner®, Chartered Financial Counselor, or other credentials. But everyone believes it. – Chris Langille, Insurance Advisor, Market Street Wealth Management, West Chester, PA. Highly effective insurance agents seek to genuinely help and care about their clients and community. We actually won a piece of business because a now client, called a different agency first, they didn’t follow-up when they said they would, so she then contacted us. You can expect a high rate of customer rejection, stress, and attrition rate. I’ve discovered that my job is to be the vision of my agency and I can’t do that if I’m mired down in the day to day service tasks. Customers are more appreciative of insurance agents who follow-up on their calls, answer their questions, and make sure their problem is solved. Your agency needs to run a no-huddle offense both internally and externally to survive in the competitive space we all exist in today. One thing I have started doing that has been successful is getting out of the office and going out to prospect. But I don’t allow myself time to unpack and live there. But highly effective insurance agents know the clients willing to pay for the coverage they need, will return that value tenfold over time. But if you do know, you think you have what it takes, and you've considered making this career change, you're likely wondering how.In this article, we've outlined the five basic steps toward earning a license and starting your insurance career. – Lisa Lemanski, Agent/Owner, Meiers Lombardini Lemanski Insurance, East Lansing, Michigan. Highly effective insurance agents don’t make excuses for the distractions they’ll inevitably be faced with every single day. When our mistakes stare us in the face, we often find it so upsetting we miss out on the primary benefit of failing: the chance to come back with a bigger, stronger, faster and smarter. A good insurance agent is able to bargain with clients while making sure that the specific aspects of the plan don't result in financial losses. I make sure every week I have an assessment meeting with just myself. Being available could mean chatting with prospects and clients via Facebook Messenger or Snapchat or Twitter. Those who work in this field absolutely must be able to handle rejection on a daily basis over the course of their careers and do it with a smile. This habit ensures they are fully engaged in activities, get more done and deal with challenges efficiently. But it is not easy to become a successful insurance agent. They do not allow distractions to become excuses for low productivity. But, even in the worst of times, success is often right around the corner. Partner at Heritage insurance Agency, Sleepy Hollow, NY, will return that value tenfold over.! Business now in every way imaginable agents know the clients willing to pay the. 30 min window and be real about my week hustle mode when it is.. Career choice how to be a good insurance agent you, the insurance company for the average person to understand my.... 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