While a variety of career options can make you puzzled, starting your career in the insurance field can serve you better opportunities.
Regardless of your age and degree, you can easily become an insurance broker or an agent anytime to earn a good amount of sum and give your career the desired shape you want.
While many of the industries require a bulk of skills, the insurance industry rightly embraces you and lets you start with a totally work-based training, which is easy and helpful.
Becoming an insurance broker or an agent hence much easier. So How to Become an Insurance Broker or Insurance Agent? Read on.
Decide what kind of insurance brokership suits right to you:
To become an Insurance agent, the first step you need to take is to opt for decision making. You need to decide between the two types of insurance agents before starting your career. Here are the two types:
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Independent insurance agent:
An independent agent or an insurance broker can be the right career option for you if you are looking for more freedom in your working sphere. Being an independent insurance agent, you can work with more than one company as per your choice.
Being an agent, you can provide your clients with a variety of policy quotes from various companies to help them to make the best decision.
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Captive insurance agent:
A captive agent is the one who works under only one company. The captive company comes with the proper training and support for you if you opt to become an agent.
In return, you can only represent the product of the company, and you cannot sell the policies of the other competitors. However, it gives you a career while working under the banner of a reputed insurance brand.
Pick the insurance product that you want to sell:
The insurance products come in a variety of types. There are various kinds of commercial insurance and personal insurance products that you can sell.
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Commercial insurance:
As a commercial insurance agent, you can focus on selling the coverage policies for the businesses. Such policies range from property insurance to general liability insurance, along with the coverages for errors and omissions.
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Personal Insurance:
Personal insurance products focus on offering coverage for individuals and families. It includes a variety of products like home insurance, motor vehicle insurance, health insurance, life insurance, etc.
Gather knowledge about the state’s license requirements and take a license:
Before you leap towards the next step, you need to review the license policies of your state that it provides regarding the insurance product you are planning to sell. Here are the two types of license that can be your main focus:
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Life, health, and accident policy license:
If you are planning to serve for the insurance products related to life, health, and accidents, then this license is for you.
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Property and casualty license:
if you want to become the agent who plans to serve the clients with the coverages like home, and business insurance, then you need to opt for this license.
To get the license, you need to take an insurance license exam. Most of the insurance license program comes with a pre-licensing class.
After taking the class, you need to schedule the exam for official licensing. You need to complete the exam with the lessons you have learned in your class.
Submit your application for licensing and background checking:
After passing the insurance license exam, you need to submit all your required applications to the licensing department of your state. Some of the procedures also require background checking. As you are officially licensed, you can discuss your insurance policies legally.
Get appointed by an insurance company:
To start selling insurance products, you need to get appointed by an insurance company. You need to complete the applications for each of the companies you want to work with. You are going to be granted an appointment and the binding authority that you need to follow.
Find your client and maintain your business:
As you have a license, you can now go to find your clients and sell your products. As a beginner, you can start with your friends and family.
To maintain your clients, you need to begin the marketing for your agency. You can create a website, have an advertising option or promote your business online to make more and more clients.
Conclusion:
After becoming an insurance broker or an agent, you need to ensure that your agency is protected with commercial insurances. Also, stay clear and transparent from the very beginning while discussing with your clients or selling them your product. Help them as much as you can to ease customer loyalty, which is important to strengthen your business.
