What Does An Insurance Agent Do?
Insurance agents are workers who sell insurance products to clients. They may work for an insurance firm and sell only one type of insurance product or they may be employed by insurance agencies and brokerages which sell many different kinds of insurance products from various insurers. In short, they are the sales arms of insurance companies. As such, they offer insurance products to potential clients and explain to them why they should get such coverage.
Insurance agents are self-driven individuals. They schedule meetings with clients and talk to them about their insurance offers. They may sell life insurance, property insurance, health insurance and property or casualty insurance products. When meeting with clients, insurance agents may ask pertinent questions about their needs, the current state of their finances and the amount of coverage they have in their present insurance, if any. They may also ask clients who have expressed their desire to get a policy to provide personal data on relevant issues by answering a questionnaire. Insurance agents will use the information they have gleaned from these talks to recommend the best policies for prospective clients. In addition, insurance agents will also guide potential clients about the process of buying a policy. The latter may have to undergo a physical exam, for example, since they may have to pay slightly higher premiums if they have previously undiagnosed or carry preexisting conditions.
Insurance agents may also talk with existing clients and facilitate the renewal of their present policies. They also conduct interviews with them, asking them of any changes in their financial condition and other major life events that could impact the policies they hold. For example, they may want to make their spouse the beneficiary of their life insurance policy if they are newly-married. If necessary, they may tailor-fit an insurance coverage to suit the needs of their client.
Assisting policyholders and/or their beneficiaries who want to make a claim is also part and parcel of the work of insurance agents. They guide claimants through the process, informing them about the documents that they need to prepare and submit to the insurance firm to facilitate the claim. By being helpful and courteous to existing clients, insurance agents also grow their business because many satisfied customers would also recommend them to their other friends, colleagues and acquaintances.
Meanwhile, more and more insurance agents are increasing the range of services which they offer to their clients. They may also get licensed and certified to offer retirement planning and estate planning services. They may also offer mutual funds, securities, annuities and other financial products to their clients.
Since insurance agents have to convince clients to buy their products, preparing presentations for potential customers are an important part of the tasks they do each day. This may entail making PowerPoint presentations to present to a large group of people, especially if they are intent on closing a big account such as selling group insurance to members of a particular organization. They may also have to prepare brochures and pamphlets to give to their clients. Aside from having colorful and informative resource materials ready, the best preparation that insurance agents can make is having thorough knowledge of each product they sell. This way, they can immediately address the concerns of their potential clients.