All kinds of people work as insurance agents that there is almost no such thing as a “typical” agent.
A successful insurance agent, on the other hand, is something that all agents aspire to. Some agents achieve success quite early in their career, while others take a longer time and need to exert a bit more effort to get there.
An insurance agent is basically a service provider. You help consumers fulfill their insurance needs, whether it’s for their own or their loved ones’ health or property.
You also need to be an expert on the products and services that you offer. You also need to be updated on the latest insurance technology and methods to ensure that your operations as an agent and as an agency are always efficient.
Your education as an agent should also include current legislation on insurance and taxes. Laws are created or amended every now and then, so it is important to keep yourself updated on these.
Technology – as it pertains to insurance -- is another area you need to be familiar with. With the popularity of the Internet, the business of selling insurance had a major facelift. Leads can now be obtained and managed online, for instance. New ways to do follow ups also arose (e.g. email, e-newsletters).
A unique change brought about by the Internet is Pay-Per-Click advertising. With this, an agent pays for advertising that appears on the page when people use particular keywords in an Internet search.
Agents who can keep up with all of these changes and use these changes to their advantage are the ones who have staying power in the insurance industry.
In spite of the technological advances, many consumers still prefer to deal with a real person for their insurance needs. This is why the importance of establishing good customer relations is always emphasized when it comes to dealing with potential and existing clients.
Some agents are better at sales than in customer relations. They often hire customer service representatives to take care of this aspect for them.
You can bring in more business through referrals. With referrals, one sale can potentially lead to more sales through your client’s network of family, friends and colleagues.
New agents can usually acquire more leads by simply asking their clients for referrals. These can be their clients’ family members, neighbors or co-workers.
Cross-selling is another way to get more sales. Consumers will usually have – and need – more than one kind of insurance. You may need to do something extra to get the license to do so, but selling more than one kind of insurance makes you a one-stop shop for insurance that people will find convenient to do business with.
For instance, if you sell P&C insurance, you may be allowed by your state to sell life and/or health insurance as well. Not all states allow this, so it is best to check first before selling other kinds of insurance.
With more products and services, new agents can quickly gain more customers and more experience to fast track their way to success in the insurance business.