It’s pretty obvious that nobody would want to leave their valuables unattended. An insurance policy acts like a guardian for the individuals or objects that you hold dear to yourself. Even though it may not be able to prevent the damages or loss, yet it offers the required financial compensation for repairs, replacement or treatment of insured entities or objects.

Gradually, people have recognized the importance of having insurance protection – be it for their near and dear ones or for their assets. However, not everyone is aware of how the insurance industry functions when they go out to buy the coverage that they need. They seek help from the experts when they plan on buying a policy and thereby, the insurance agents comes to be of service.

What role is served by an insurance agent?

An insurance agent is not someone who merely sells insurance policies to the consumers. They help the consumers to find out about their individual insurance requirements, be it for life, home, automobile or for any other object that might be of value for the consumer. They educate the consumers about insurance and point out the different forms of coverage, their benefits etc. so that the consumers can buy an affordable policy that would fit their requirements. Not only that, an insurance agent is supposed to be an expert who will be able to answer any of your insurance queries and make you feel confident about your insurance decision. The insurance requirements of an individual keeps on changing with time. An insurance agent also helps to review your existing coverage in accordance with your requirements and upgrade or renew your policy consequently.

Types of insurance agent

Insurance agents are primarily classified into two main types – Captive agents and Independent agents.

  1. Captive agents – The captive agents work for a specific insurance company and sells the products of that particular insurer only. Thus, though they help the consumers to buy appropriate insurance coverage, they typically endorse products and polices from a single insurance company only and thereby can come up with limited offers.
  2. Independent Agents – As the name suggests, independent agents are not bound to a single insurance company and offer a wide range of insurance options to the consumers. An independent insurance agent can act as representative of multiple insurance companies, and thus can present multiple plans before the consumers, from which he or she can select one that suits best. Since this kind of agent don’t pay allegiance to a particular insurance company, they are supposed to be more helpful for the consumers.

Qualities of a successful insurance agent

There might be several insurance agents, but only a few amongst them find preference with the consumers. If you aspire to become an insurance agent, you must know about the qualities that can turn you into a success. The following character traits can be pointed out which marks a successful insurance agent:

  1. Pay attention to the client – An insurance agent can only become successful if he earns the goodwill of the consumers. A helpful agent will find favor with the clients, more than those agents who try to sell policies only to earn commissions.
  2. Stay in touch with the client – Customer service matters a lot, if you intend to become a good insurance agent. The queries of the clients must be answered when they reach out to the agent for help.
  3. Must empathize with the client – An insurance agent must be patient enough to listen to the problems and queries of the client, to understand their requirements and offer plans accordingly.
  4. Must be enthusiastic – An insurance agent who has a high energy level is bound to succeed, if he can infuse his enthusiasm in the client as well, and encourage them to buy the apt protection.
  5. Must be persistent – Persistence is one of the key factors that makes an insurance agent succeed. They must not give up trying to sell the insurance products, even after facing rejection. A determined agent usually goes a long way than one who loses heart early.
  6. Should be honest – Insurance agents who make false promises might succeed in the initial stage. However, once he earns a bad reputation, he’ll lose both the client’s trust and business.
  7. Need to offer multiple choices – Apart from the standard coverage, an insurance agent must be able to offer a wide range of products and services to the consumers. Thereby he’ll be able to sell policies which will offer personalized insurance coverage for each of his clients.
  8. Diversified knowledge – Besides selling the insurance policies, an insurance agent should also know about the other aspects of the insurance industry. The agents must have ample knowledge about the legal aspects and taxation procedure of the insurance products which he’ll be selling, so that he can serve his clients in a better way.

Not everyone can qualify as an insurance agent. An agent usually has to undergo specialized training to have a better understanding of the insurance industry. Good communication skills and self confidence are compulsory add-ons that can make an insurance agent succeed.

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