So, you want to be an insurance agent? Do you have what it takes? Are you up for the challenge? With the right training, it’s possible. You need to match the right financial products with the right customers, become a good negotiator and go-getter and know the industry like the back of your hand.
Insurance is big business in the United States. For example, Americans purchased more than 254 million life insurance policies in 2020. But becoming an insurance agent is so much more than just sales. Read on to find out the essential skills you need to master.
You Need to Be a Good Negotiator
Insurance agents are brilliant negotiators. In fact, they are brilliant orators — they inform, educate and persuade, just like a politician would do in the run-up to an election.
Think about all the different types of people who need insurance:
- Business owners
- Vehicle drivers
- Even pet lovers
The best insurance agents match the best financial products based on an individual’s circumstances, lifestyle, and behaviors.
Finding the right insurance product is like filling in the last puzzle piece. It might take a while to get there, but it’s well worth the effort.
You Need to Know the Industry
Insurance provides people with a financial safeguard in the event of an emergency.
There are hundreds of insurance products on the market:
- Life insurance
- Health insurance
- Property and casualty insurance
Insurance agents have a good understanding of most of them.
Remember, you need to know the following things inside-out:
- The latest products
- Insurance rates
- Insurance providers
Plus, keeping up to date with the latest market trends is a must, especially in today’s constantly evolving economy.
You will also need to learn sales strategies — creative techniques that encourage customers to purchase financial products. In today’s digital age, the most successful agents understand that building valuable relationships is done by using the communication methods your prospects and clients prefer.
“There is no ‘best’ communication channel for all of your prospects,” according to a blog by Close. “You need to be ready to take on all forms of communication with your prospects and build a completely seamless conversation over different channels.”
You Need to Be a Go-Getter
Being an insurance agent, at times, is tough. You’ll face multiple challenges but, with the right training, you can easily overcome these. Each day is different, and this job can be extremely rewarding — as well as lucrative. If you’re prepared to work hard, you’ll soon reap the benefits. Insurance agents are go-getters. They are determined to be successful.
“Life insurance agents must possess a fighting spirit,” says Investopedia. “They must be people who love the thrill of the hunt, the rush of a sale and see rejection as a stepping stone to eventual success. A career in life insurance sales is not ideal for those who view themselves as introverted, soft-spoken or afraid of conflict.”
Think you can cut it as an insurance agent? Ready to become a good negotiator? A go-getter? Prepared to know the industry like the back of your hand? You’re in the right place. It’s time to start your new career. With Xcel, you can find the right professional education program to become an insurance agent in your area.