Insurance has witnessed immense growth in recent years, attracting thousands of individuals each year to start their careers. Whether you are looking to begin your career as one, have had a job before and are looking to switch careers, or are looking to earn a little bit on the side from it, there is something for everyone.
So, if you want to join the insurance industry with no experience, do not worry. This article will explore what an agent is and their role, how to succeed as an insurance agent with no professional experience, and how to become an insurance agent in India.
What is an insurance agent, and what do they do?
An insurance agent is an individual who is licensed to sell insurance policies to prospective customers. They are licensed professionals trained to understand the customer’s needs and recommend the best policy.
They contact potential customers to generate leads, showcase policies offered by the insurance providers they are affiliated with, understand the needs of the customer, recommend the right policy based on those requirements, provide financial advice if requested, guide through the policy, explain policy details, and help complete the purchase process.
How do you succeed as an insurance agent?
Insurance is a challenging job, facing constant rejection, the stress of meeting new people every day, putting your best foot forward, impressing them, and finally converting them into sales. As agents primarily earn from commissions, sales are essential to an agent’s role.
These are a few skills and qualities that aspiring agents must inculcate to be successful in their careers:
An agent in insurance primarily plays a sales function for insurance providers, requiring them to be good at listening and communicating with their customers.
An agent must also have good analytical skills to understand the needs of the customers and the industry at large to offer relevant and valuable solutions. This is also the case for agents considering providing advise to groups under group medical insurance.
An agent must have in-depth knowledge about the specific products they sell and the wider industry to offer accurate and beneficial recommendations.
One of the most critical factors to succeed in insurance is networking. Network with colleagues, friends, and community members; attend seminars, etc.; meet new people; understand their needs; and potentially generate new leads for your business.
An agent must understand that potential customers appreciate honest and accurate advice, leading to a lasting relationship with them approaching the agent for any future guidance.
Working as an agent is technically a sales role, which can lead to constant rejections and can lead to a negative experience. This is where persistence can make a difference and work towards success.
How to become a health insurance agent?
In India, every agent needs to get a license before they can sell policies. This is why, before becoming an agent, individuals must complete their training and pass an exam to get the license.
Here are the requirements and the steps to become an agent in India:
Step 1: Ensure you are over 18, have an Aadhar and PAN card and have completed your 10th or 12th.
Step 2: Once you have ensured that the above requirements are fulfilled, you can start looking for insurance providers you wish to work with and get training from.
Step 3: Once you have decided on an insurance provider, contact them, request a meeting, or apply online.
Step 4: Complete your training with them and prepare for the examination.
Step 5: Pass the licensing examination to get a license and then sign your contract with the insurer to start working as an agent with them.
Due to its characteristics, insurance is a field anyone can enter with just a bit of time and hard work. Whether it is its flexibility, unlimited potential to earn or the opportunity to start earning without any monetary investment, insurance is a desirable industry to work in.
However, it requires agents to be dynamic, change with times, develop their communication, analytical, and networking skills, possess an in-depth knowledge of products, be honest, and have persistence to succeed.
By considering these skills and qualities, you can start your career in insurance on the right foot and avail these and numerous other benefits.