How to Sell Insurance
Updated: April 30, 2021|
Updated: April 30, 2021|
Have you been thinking about a job in insurance? Insurance sales is one of the most easily approachable fields a person can get into. Whether you are an entry-level employee with no job experience or a veteran with many years in sales, there is a position that is right for you.
Besides being extremely accessible, working in or owning an insurance agency can be a deeply fulfilling career. In fact, many people who enter the insurance industry end up making it their life-long career.
Insurance agencies are often small businesses with a very devoted and family-like atmosphere, plus building relationships with your clients and helping them when they are in need is an extremely gratifying venture.
Before jumping into your insurance career, you need to know which types of insurance you want to sell. Are you thinking of selling car insurance? Homeowners’ insurance? Life insurance?
There are many different types of insurance available, all of which require state-mandated insurance licenses to sell.
Some of the common types of insurance are:
While there are other types of insurance on the market, these are the most commonly referenced policies. The same licenses mentioned above will cover many of the other categories of insurance not stated in this article.
As mentioned above, to sell insurance you will need to carry an insurance license.
Insurance laws are administered at the state level, which means that each state has its own set of policies and requirements surrounding insurance licensing.
Luckily, we have done the research for you and put together free step-by-step guides on how to get your insurance licenses in each and every state.
Most often the steps you will need to follow are:
Once you have the proper insurance license you will need to find a company to partner with to sell insurance. This can either be accomplished by starting your own company or working for an agency. Since starting your own agency is a very large and complicated undertaking, we’ll just cover working for an existing agency in this article.
Finding a job at an agency is a lot like finding any other job. One positive, however, is that many insurance companies push their agencies to subscribe to an “always be hiring” mindset, so finding an opening near you is generally not a difficult task.
If you are applying for an insurance sales job, be sure to highlight any prior sales or customer service experience in your resume when applying to the position. You will likely be speaking on the phone and in person regularly with clients and prospects, so the hiring agent will want to know that you are comfortable and confident with these types of tasks.
If you're looking for new job or to start your career in insurance, find an open position on StateRequirement's:
Every agent needs a strategy to make sales. Even if you are lucky enough to work in an agency that creates a lot of inbound traffic you will still need to have a plan in place when the phone rings.
Most agents and agencies aren’t lucky enough for the phone to “just ring”, however. The “if you build it, they will come” strategy is the driving force behind many failed ventures in the insurance game. You need to know what to do to make the phone ring.
Some different strategies that an agency can try include:
There is a nearly infinite number of ways to market your insurance agency beyond just these listed ideas. Some will work better than others. Some will work for some agencies that won’t work for others.
The smartest strategy for you to implement is testing different tactics to see what works and what doesn’t. When you find a method that yields results, attack it with vigor and keep testing!
Sometimes when you are in the heat of a big sales push it can be easy to forget about the policies that are already in place. The best insurance agencies keep in mind that for each one of those policies there is a live person behind it.
People want to feel like they are being taken care of – not just in a claim situation – all the time. Keep in contact with your client base on at least a semi-regular basis. You don’t need to try to sell them something every time you call them, but you can make them feel as though they are a part of the agency’s family if you give a call and ask if they have any questions or to tell them “Happy Birthday”.
Since insurance generally pays on renewing premiums just the same as new policies, it is imperative that you keep your client retention high. It is always less expensive to keep an old customer than it is to gain a new one. Plus, peoples’ lives are always changing, so making sure they always have the best-suited coverage is good for both the client and the agency.
Information on this page has been gathered by a multitude of sources and was most recently updated on July 2020.
Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date. StateRequirement and its members and affiliates are not responsible for any losses, monetary or otherwise. StateRequirement is not affiliated with any state, government, or licensing body. For more information, please contact your state's authority on insurance.
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