Introduction
Most people will only get to interact with an insurance company through an agent insurance. These people will assist individuals, families and businesses to select the right insurance policy, which will provide the best coverage for their health, lives and property, according to the client’s needs. Here are some facts you should know about insurance agents and the services they provide to their clients:
History
Types of Insurance Agents
The primary role played by agent insurance is to help insurance companies sell their policies, which may include life, casualty, disability, health, and long-term care. There are three basic types of insurances agents: direct sales agents, captive and independent sales agent. A direct sales agent is an employee of an insurance company, hired to sell insurance to their clients. A captive sales agent is an independent agent who works exclusively with one insurance company. An independent sales agent works independently for many insurance companies, selling their policies on their behalf. This allows them to shop around for different rates, to provide you with the best possible quote.
Features
Roles and Responsibilities
There are a number of roles and responsibilities which agent insurance play, in the provision of their services. These include the preparation of reports, help clients settle insurance claims, maintain client records, and maintain a relationship with their clients, ensuring that their financial needs are being met. Many insurance agents are mainly dependent on referrals so as to get new clients. Therefore, maintaining a satisfactory relationship with clients is a critical factor, in order to get recommended to other potential customers.
Work Environment
Most agent insurance will work from an office set up. The size of an agency will vary from one firm to the next, where some might work alone while others may work together as a team. Some insurance brokers will prefer to work on the field, often travelling to meet new clients, close deals or investigate claims. Insurance agents have flexible working hours, which are based on their client’s availability.
Tips and comments
Training and Other Qualifications
Every agent insurance involved in the solicitation, selling or negotiation of insurance policy terms is required to have a State-issued license. The licensing requirements will vary from state to state, but will often require the agent to study for some insurance related course and to pass a number of exams. Many insurance companies and independent sales agencies prefer to hire college graduates, especially those who have majored in finance, business or economics. They may also higher high school graduates, if they have good sales ability and excellent interpersonal skills. Many state licensing authorities also require insurance agents to undergo continuous educational courses every two years, on topics like insurance law, ethics, consumer protection, and the technicalities of various insurance policies.
Earnings
The earning made by an agent insurance may either be a salary package or commission based on sales figures. Most independent insurance agents will earn a commission, while sales workers will earn either a basic salary, salary plus commission or salary plus bonus. Sales workers may also earn certain benefits on top of their salary, such as continuing education and group insurance plans.
