The insurance industry is one that is evolving rapidly and consistently offers career opportunities and opportunities to make a positive difference in people's lives. Curious about the possibilities? To help potential customers learn more, we'll answer some of the most frequently asked questions, including the most important one – how to become an insurance agent.
What does an insurance agent do?
Considered a salesperson – albeit a salesperson protecting people's livelihoods – insurance agents determine the products that keep a customer covered. To do this (and to get it right), agents must build thoughtful relationships with their customers – evaluate their unique needs and then present policies that meet those needs. Through this important process, insurance agents provide financial stability and peace of mind… and a promise to provide them with service and support when it matters most. During their typical 40-hour workweek, agents are also responsible for building their business, which often involves promoting their services through marketing and advertising.
Are there different types of insurance agents?
In the insurance industry there are two types of agents. Exclusive agents sell insurance for one company, while independent agents sell for many. This gives independent agents the ability to look for policies from multiple providers and find the best coverage for each individual's needs. And that's why we partner with independent agents at Frankenmuth Insurance.
Typically, agents also specialize in a specific type of insurance, such as:
- Personal: These agents work with individuals and families to ensure that their personal belongings, such as homes, cars and household items, are covered in the event of serious financial loss, such as a house fire or car accident.
- Commercial: Commercial insurance agents protect businesses from events such as fire, theft, data breaches, employee injury and many other risks.
- Life: Perhaps the ultimate product for peace of mind, a life insurance policy pays out a designated beneficiary upon the death of an individual, allowing survivors to face the future with additional funding.
Why should I become an insurance agent?
Ask yourself: Would it be personally (and professionally) satisfying to help protect the people in your community? To help local entrepreneurs start or expand their business? To really make a difference in the environment where you work, live and play? Based on our more than 150 years of experience, we believe that everyone who & # 39; yes & # 39; says a career as an insurance agent would be very rewarding. Plus, with perks like easy access to the field, the ability to choose your own office environment, and essentially unlimited earning potential, it's work that can reward you – both in the office and beyond. Intrigued? For more information, read our blog post: 4 Compelling Reasons to Work in the Insurance Industry.
Why should I become an insurance agent?
The US Bureau of Labor Statistics reports that insurance agent employment is expected to grow 5% between 2019 and 2029, faster than the average for all other professions. In this 10-year period, the industry is expected to add 27,500 agents … and you could be one of them. Here's how:
- Earn your bachelor's degree. Technically, a high school diploma (or GED) is the minimum education requirement for an insurance agent, but most companies seek employees with a college degree. And while there is no set area of study, aspiring agents may want to consider courses in business, economics, finance, marketing, and / or psychology, as these classes can provide insights into selling and promoting your products, as well as gaining insights into consumer behavior.
- Get a license. Insurance agents must obtain a license for any product they intend to promote in the state they intend to sell. For example, if you plan to sell both home and life insurance, you will need two different licenses. The licensing process may include classroom training and / or self-study, and it requires passing an exam.
- Start searching. If you're ready to provide protection and peace of mind, find a job that will give you a platform to do the work you love. The work you are passionate about. The work you can be proud of. While Frankenmuth Insurance does not directly employ agents (as we work with independent agencies), we recommend that you visit your favorite career-focused website, such as LinkedIn or Indeed, to get started.
- Increase your expertise. You never stop learning in the insurance industry. Agents have myriad opportunities to build their knowledge, whether in continuing education courses or additional certifications. When you are done, your colleagues should have helpful suggestions.
Once you have made your dream job a reality, you can discover the benefits of partnering with us. Frankenmuth Insurance partners with more than 600 independent insurance agencies and proactively protects people and businesses in 15 states. To establish a working relationship with us, established agencies can apply at any time.