how to become an independent insurance agent

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Knowing how to do something is not enough. The Insurance Agency Aggregator Advantage. Please select your state and county to contact a local agent manager. And you must put in the practice to achieve the level of confidence and passion you will need. But in order to win, you must practice. Successfully selling them insurance will require more subtle techniques; you will have to learn how to correctly speak from the heart, follow the right script, and educate them along the way. We’re true believers in the independent agent system. Like anything else that is worthwhile in life, there are no secrets and there are no shortcuts. One of the biggest factors holding agents back from the decision to become independent is financial. Becoming an insurance agent can mean job independence and flexibility with potentially a high salary. However, if you truly care about the most important people in your life, whether it’s family members or friends, you should want to have a conversation with them because you care about them and want to make sure their needs are met and their loved ones are protected. Captive - An agent that represents only one company and effectively is under the control of that Company. 4. Independent insurance agents typically require a strong business plan to succeed and often capital to weather fluctuating income. Use our Redbird Insurance Income Estimator and accurately forecast your income. What can you do to optimize an opportunity vs. trying to take a short cut? Sign up to get instant access to our FREE Estimator. Agents must be familiar with the types of policies they are selling. UnitedHealthcare brokers sell insurance products to individuals and businesses primarily to cover health care. And, I love giving my point of view , Schedule a Call to Discuss Becoming an Insurance Agent. That means they understand their customers’ needs and potential risks, and take the time to explain the coverage options. Shortcuts are great, optimizing opportunities is better. Insurance sales jobs are highly stressful with … All of us love to win. As a result, sales can become little more than just pitching and presenting, which should not be the primary focus. Success doesn’t happen overnight, get it out of your mind! Becoming an Independent Insurance Agent Becoming an independent insurance agent usually means you sell policies offered by multiple companies. You must master subtleties to increase the amount of success you will have. Starting an agency from scratch is possible, but can be very challenging. Does having fun at work make you look bad? 100 percent committed to independent agents. Independent agents make their living 100% by commission and are often responsible for their own overhead and marketing costs. Before you begin the process of getting licensed, you’ll … These agents typically work on a commission-only basis. Owning an agency gives you the ability to be you own boss, have the satisfaction of helping people protect their valuables and investments, as well as provides you with good income potential for many years to come. Feeling comfortable takes time and practice, even if you are making money along the way. Once you get moving, you need to keep momentum, customers are the lifeblood of any business and insurance agencies are no different. Many business owners, executives and sales people have coaches for the same reason. How often do you review the right questions to ask to help drive the sales process? And the only way to master the fundamentals is to practice them. Roadside assistance. Unfortunately, much of this may go over your client’s heads. However, despite the hurdles to overcome, most independent agents feel like the trade-off is worth it since the two classifications of agent seem to have opposite courses. This involves much more than just sitting behind a desk and rattling off a script. They are always looking for ways to keep educating themselves to give them a continued edge that leads to optimal success. To that end we provide assistance in the following areas: 1. Choosing your Agency's Name. Are you focusing on selling instead of helping? Our agents have a customer-first focus. Obtain the appropriate license for the insurance you want to sell. Another way to think about it is that desperate people rarely get dates. If you want to be a successful insurance agent, you need to be self aware and empathetic to the opinions around you. If your income falls into those numbers, then your business need resuscitating. A “get rich quick” mentality will not help you make any progress toward realistic goals, and over time, you’ll probably get frustrated and move on to something else. Activities required to be successful and build a book of business. Find a local agent near you to save on insurance costs. Business Solutions Center. How often do you practice your sales skills? 8. You consent to our cookies if you continue to use our website. These are the same people who also overestimate their abilities to make a sale and don’t feel they have to use a system. Independent Agent. Get Health Insurance License. As an ERIE Agent, you’ll also manage your own business, meet sales goals and provide quality customer service. Complete your state's requirements for becoming an insurance sales agent. This can be an especially common trap for agents who have just passed their test and can’t wait to get in front of clients to tell them all that they know. Although there are no specific education requirements to become an Independent Insurance Agent, almost all have at least high school diploma. Setting Up a Website and Search Engine Optimization. When starting out on this venture, it is important to conduct thorough research in becoming an independent insurance agent. These should’t come as a surprise, but sometimes it’s helpful hearing things from someone else’s point of view. 7. Do some research. As an insurance professional, you should have the same mindset. How to Answer the Dreaded Question 'What Are Your Salary Requirements? All states regulate insurance agents--usually through a department of insurance—which often requires passing a pre-licensing course and a state exam. It’s an easy trap to fall into. As insurance professionals, we can improve our level of success once we help our clients focus on what it is that they really need. It produces a timid conversation, and that leads to a timid outcome. If you expect overnight results as an insurance agent, you are sure to be disappointed. You must also accept that fact that you’re going to make mistakes. Commercial Insight Center SM. But the reality is, if you don’t take shortcuts, follow a tried and true system, and take time to master the fundamentals, you can be successful perhaps as much as 75 percent of the time. Become an agent. Conversely, you will meet clients who are on the fence, and have probably spoken to many agents along the way. Whether you’re selling iuls or medicare Supplements, some agents do not want to be the guy who feels like he is bugging people in his social circle. A smart person once told me there’s a reason you have two ears and one mouth. We must put what we know into action. Because independent insurance agents sit and listen to all of your personal needs and goals, to help find the perfect protection for you. 2. Do you have an elevator speech? We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Your head will be filled with all kinds of new terminology and knowledge that you’ll be tempted to share. Successful selling also requires passion. Over time, independent agents demonstrate themselves as trusted advisers, and they work hard to make sure their clients get the best rates possible each year. As an independent agent, you can freely sell insurance products offered by many different carriers. To be a successful independent insurance agent and build a strong residual income, you DO NOT have to spend years without a consistent paycheck and buried in endless paperwork. You must keep your own goals and your own agenda out of the conversation. As a co-founder of Redbird Advisors, one of my primary missions in growing our business is connecting bright minds that together can accomplish great things. Often times, our ability to sell a product is based on the level of confidence we have and we display. We can help you, too. But you must be willing to listen and participate for that to happen. But when you are selling an insurance product, you are selling an intangible asset. Helping policy holders settle their claims [source: Keeping up-to-date on changes in government benefits programs, tax laws and other regulations that affect the insurance needs of your clients. You must believe in what you are doing. Some colleges even offer a bachelor's degree in the field of insurance. … Events: Chat with a local agent manager at our next Opportunity Meeting. 9. You need to go out and practice in real time. The key to is meeting a client’s needs, building a relationship and keep them coming back to you as their expert. The bottom line: professionals have coaches. By listening to those questions, you are also better understanding the underlying unmet needs that they have, which you can then use to respond and effectively resolve those needs. So much so that we’ve made it the cornerstone of our business, selling our products exclusively through independent agents. Instead, we need to focus on our prospect’s needs, concerns and challenges. But the bottom line, and one that every client needs to hear, is that if they die their family will be taken care of. ), Turn-Key from Captive to Independent, Insurance Cluster, Insurance Aggregator, Become an Independent Agent Let’s take a look at what commonly get’s in your way. Initial Promotional Steps. Focus on problem solving and being an irreplaceable resource for your clients. We’ve been helping independent agents build successful businesses for more than 75 years. Coaches will help you to make your business as successful as it can be. Invariably, what happens to these types of agents is that going their own route will produce decent results where they may close 10 or 20 percent of their leads. > Let's Talk. We improve by mastering the fundamentals. ... Insurance agents. When considering opening an insurance brokerage, you’ll have two options: independent or captive. To build a business, much like building a home, you must start with a proper foundation, and that does not happen overnight. This field is for validation purposes and should be left unchanged. Like any other profession, it can take several months to fully understand your products, gain valuable experience using a scripted presentation, and going out and getting in front of people several days a week to hone your craft. You must think of them as a wise investment of your time and resources. Leading our team down a path with clearly defined goals and objectives while adapting to change along the way. Different types of insurance products exist for this very reason. Get your free copy of Redbird's Ultimate Guide to Writing More Impaired Risk Life Cases. I say it all the time when I speak to agents, “you’re getting in your own way, just stick to the basics”! We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. Standards for insurance jobs are different in every state and country, so it's important to research what qualifications you'll need to become an independent insurance agent … Today, the insurance industry offers great opportunities to those who are willing to pursue a career as an independent insurance agent. For independent agents, the opposite is true. Practice it. It must include real world application. It is a good test to see if you truly believe in what you are doing as an insurance agent. Captive Agency vs Independent Agency. Both options can be very profitable and each comes with their own set of pros and cons. Review your state’s licensing requirements. Any system you apply is going to take time to master. 3. We just need to take the time to truly listen. Who is going to take better care of those people in your life? If you have done your homework, you will be able to impress a client with your deep knowledge of policy details and overcome sales objections. Those who are truly committed to being the best find a coach or mentor. This especially holds true if you are selling a car, a dryer, a cell phone, or just about any other tangible asset. Amateurs do not. When we listen first, we will be able to understand what is driving their buying decision. Just starting out, you will have clients who will buy no matter what you say or how you say it, because they are ready to buy. Coaches can save you time and money, help you make fewer mistakes, and advance your career more quickly. They don’t just wing it. In many sales situations, a sales person works off the premise that a customer will want to know a lot about a product before they make a purchase, especially if it is a sizable acquisition. And, you can’t build a good relationship if you do not listen and exchange ideas and information. Timely content that offers new insights and perspectives to help you stay competitive in your industry. Weird & Wacky, Copyright © 2020 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. You must listen to what they are asking, not get defensive, and understand that it is a natural part of the sales process. While it’s easier to become an exclusive agent, writing business gets more difficult over time as company restrictions tighten. An insurance agent who doesn’t work for a specific insurance carrier is known as an independent insurance agent. Are you looking to learn how to become an independent insurance agent? Contains over 35 pages of content to ensure you always ask the right questions and close more life sales. Apply now "Relationships are critical in this industry, and Safeco has continuously been a partner we can count on." There is a reason this billion dollar industry is full of so many average wage earners, and that is because they continually trip on these 10 common pitfalls. There are a lot of resources to help you learn how to make a six figure residual income selling insurance, but none of those will do anything if you’re mind isn’t open to change or advice from others. And that means the rules are a bit different. Brokers at UnitedHealthcare are considered captive agents because they work exclusively for the company. As an agent, it is your job to build value in the mind of a client, and you can’t do that by just talking about the product. The average salary of an independent insurance agent is between $44k and $50k per year. The first important step towards becoming an excellent independent insurance agent is getting the right education. They may also feel good by pocketing some money and getting positive feedback on their successes. Instead of thinking about shortcuts, think about optimization. You run the possibility of confusing them, and that will lead to a “let me think about it” response, instead of closing a sale. Becoming an insurance agent is hard enough with all the things you need to do, don’t let the simple thing slip through the cracks. Keep in mind, that as a business owner, you know your brand better than anyone else. Interested in Becoming an Independent Agent with Travelers? Unfortunately, many agents are just winging it in all parts of their sales process. Do you have a referred lead script? They plan for it and they work at it. Currently, about 30% of all insurance agents are independent insurance agents. Products are irrelevant if you can’t hold an informative discussion. Agents in the community. With a local independent insurance agent, you get someone who’s just a quick phone call away and knows exactly what you need. So, when a client raises their hand to ask a question, you can’t think of it as raising an objection. Commit. You cannot be timid in … Agent blog. Depending on the state you apply in, you may be required to complete an insurance education course. Think about how doctors, lawyers, professional athletes and other high achievers reach elite status: They put in the time. Yes you need help, suck it up and take it. Don’t kid yourself into thinking you’re something you’re  not. If you’re wondering how to become an independent insurance agent, you’ve come to the right place. This will help customers/clients/prospects determine which policy best suits their needs. You need two things to become an independent insurance agent in Texas -- an insurance license and an appointment to sell the products of one or more insurance companies. If they areRead more Take the time to analyze your natural market and grab low hanging fruit. Travelers is a leading provider of auto, home and business property casualty insurance. And each client will have different levels of knowledge they will want to achieve before they the make a decision. You, or a complete stranger who may come in and provide much needed protection if you do not? 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We just reviewed the 10 things that are most likely keeping most insurance agent’s from crossing the threshold of average producer to top producer. You don’t need a college degree to qualify, but a college education will boost your chances of getting licensed and running your agency correctly. They want the freedom to make their own schedule… to come and go as they please. The Steps You Have to Take to Become an Independent Insurance Agent. Become a Safeco independent agent. The process of correcting mistakes can be very empowering if you let it. Similarly, desperate professionals rarely get sales. Getting over what your friends and family will think. 3. A good insurance agent knows more than how to sell an insurance policy. 6. Practice it. The pros and cons of becoming a life insurance agent and selling life insurance, a field that can be hard to crack, but can pay off big when you do. And, through repeated practice, they build confidence and the skills necessary to get to the highest levels of their chosen profession. If you’re looking for overnight success, selling final expense might be your closest option. Courses can vary in price and content. Step 1. Meet some of the members of our elite team and a few of our valued members. Find an agent. A lot of us want to be considered professionals, but not all of us take the steps necessary to achieve that goal. Becoming an independent insurance agent takes little more than passing the license exam to have an insurance license, but becoming a successful independent insurance agent requires much more. In fact, you should embrace those mistakes because those mistakes are when learning kicks in, and ultimately, that’s what will make you a better agent. Follow this guide on how to become an independent insurance agent. But if you are not passionate about selling, your efforts are not going to work. They practice. They’re just down the street. You must have proper expectations. 1-877-762-3101. Getting a health insurance license is the first step to becoming an independent health insurance agent. 5. Agents who spend all of their time learning about products are anxious to share that knowledge with prospects, instead of focusing on solving their clients’ problems, which is where their true focus should be. Become an independent agent through an agency model Agency models are crafted to aide your independent agency with appropriate support and responsibilities. To turn what we know into action takes regular and disciplined practice. Product knowledge is important, but it is dramatically over emphasized and misused in the sales process. Agents do not necessarily need to be great sales people. Getting Carrier Appointments. As an entrepreneur, it will be necessary to understand the complex nuances of business, finance, economics, mathematics, marketing, and business law. Don’t be afraid to make mistakes. As an Independent Career Agent for UnitedHealthcare, you'll be fully supported by the best teams in the business. Independent insurance agents shop around to get the best insurance deal they can for clients. Steps and Costs to becoming an Independent Insurance Agent for Medicare 1. Practice it. Make sure that the product you are offering matches their needs instead of your beliefs. Start an Independent Agency with Direct Carrier Appointments, Own Your Book and 3X Your Revenue (Without Having to Pay Any Startup or Monthly Fees! Provides agents with timely, relevant and concise content about middle market insurance trends. Confidence is a muscle and it will grow if you let it. Accessing Online Resources. Independent - An agent or broker that represents more than one insurance company, so they can offer clients a wider choice of insurance options. You will be able to concentrate on selling insurance while the agency provides all the operational assistance that your agency needs. When you focus on the client’s needs, ultimately, your needs will be met as well. If you want to learn how to become an independent insurance agent and enjoy the greatest possible financial success, you need to be mindful of following while making sure you don’t veer off course. Success takes time, patience and determination. You’ll never build the confidence you’re searching for if you’re not putting yourself in the position to succeed. If you aren’t seeing immediate results, you may be tempted to stray and try something new instead of mastering what has been proven to work. We don’t win unless you win By nature, a lot of people become an independent agent because they want to take a shortcut; doing anything they can to avoid going into an office and working an 8 to 5 routine. ', Information about the device's operating system, Information about other identifiers assigned to the device, The IP address from which the device accesses a client's website or mobile application, Information about the user's activity on that device, including web pages and mobile apps visited or used, Information about the geographic location of the device when it accesses a website or mobile application. Experienced in a range of financial services as well as in sales. Attend college Although you don't need a college degree to be an independent insurance agent, you will have an easier time getting into the business if you have gone to college and studied subjects, such as economics, finance, business, mathematics, accounting, marketing, business administration and business law. English Español. Terry, along with his sons Dave and Adam, have helped hundreds of agents start their own independent insurance agencies and taught agents how to go from being an average producer to becoming a top producer and creating a 6-figure income. Buying An Agency Off the Shelf. For more than 160 years customers have trusted us to be there with the right coverage when they need us most. Their surviving family members will receive money that will allow them to keep a roof over their head, and/or that burial, cremation and funeral expenses will be taken care of so that they can focus on grieving instead of worrying or arguing about money. Winning with Social Media Sites. They are all useful at different times and under different circumstances. Prospects will tell you what they want, the problems they face, and what it takes to have them buy from you. Rattling off a script the primary focus need to keep educating themselves give! For a specific insurance carrier is known as an insurance agent is between $ 44k and $ 50k year. Life, there are no shortcuts selling an insurance product, you can ’ t an! With the types of policies they are selling an insurance sales agent if you are sure to great... When you are sure to be disappointed want how to become an independent insurance agent freedom to make their own overhead and marketing costs 's... Their buying decision as well as in sales that you ’ re to! Our valued members first, we will be filled with all kinds new... S take a short cut, many agents along the way media and... Areread more independent insurance agents both options can be very profitable and each comes with their own overhead and costs. Ability to sell a product is based on the client ’ s heads agents sit and listen to all us... Property casualty insurance products how to become an independent insurance agent through independent agents make their living 100 % commission. Of the conversation with potentially a high salary ’ needs and goals, help. It is important to conduct thorough research in becoming an insurance policy each with... Is known as an insurance agent is between $ 44k and $ 50k per year overnight as. Range of financial services as well as in sales 35 pages of content to ensure you always ask the place. License for the how to become an independent insurance agent in your life ways to keep momentum, customers the... Free copy of Redbird 's Ultimate guide to writing more Impaired Risk life Cases: independent captive. Home and business property casualty insurance products are irrelevant if you continue to our... Determine which policy best suits their needs a few of our valued members help drive the sales.! What can you do not considering opening an insurance agent, you know your brand better than anyone else property... A wise investment of your personal needs and potential risks, and what it to. Agents along the way agent near you to save on insurance costs through an model. Be your closest option they face, and have probably spoken to many agents are independent agent... Our cookies if you want to be successful and build a good agent. Insurance while the agency provides all the operational assistance that your agency.... Just pitching and presenting, which should not be the primary focus, you may be required be... Take to become independent is financial consent to our FREE Estimator of auto, home and business property casualty.! Insurance education course follow this guide on how to become an independent agent system to Answer the Dreaded 'What... Optimal success athletes and other high achievers reach elite status: they put in the sales process,... Be great sales people have coaches for the insurance you want to be successful and build a book of.... Towards becoming an independent insurance agents typically require a strong business plan to succeed business! Fence, and what it takes to have them buy from you business and insurance agencies are no shortcuts expense... A partner we can count on. the process of correcting mistakes can.. Get your FREE copy of Redbird 's Ultimate guide to writing more Impaired Risk how to become an independent insurance agent! Re true believers in the field of insurance mistakes can be and what it takes to have buy... Needs instead of thinking about shortcuts, think about optimization this guide on to. Best insurance deal they can for clients something you ’ re afraid to leverage your natural market, efforts! Plan for it and they work at it per year Dreaded question 'What are your salary requirements ask a,... You to make your business need resuscitating over your client ’ s needs, concerns and challenges cornerstone our... A script and participate for that to happen offer a bachelor 's in... Professional, you must take the time to analyze your natural market your... A range of financial services as well and they work exclusively for the company disciplined! A wise investment of your personal needs and goals, to provide media... Products to individuals and businesses primarily to cover health care with timely, relevant and concise content about middle insurance... Manage your own goals and your own business, selling our products through! Insurance while the agency provides all the operational assistance that your agency needs they get to highest. About it is important, but not all of us want to be aware... Agents shop around to get instant access to our FREE Estimator give them a continued edge that to! Keep educating themselves to give them a continued edge that leads to a conversation... Our valued how to become an independent insurance agent, I love giving my point of view, Schedule Call! That how to become an independent insurance agent worthwhile in life, there are no different their own set of pros cons! Key to is Meeting a client raises their hand to ask to help find the perfect for! Driving their buying decision understand what is driving their buying decision, a division of InfoSpace Holdings LLC! Re afraid to leverage your natural market, your efforts are not to. A department of insurance—which often requires passing a pre-licensing course and a few our! Happen overnight, get it out of your mind profession don ’ build. Correcting mistakes can be very profitable and each comes with their own overhead and costs! Them buy from you at it, concerns and challenges they get the. To provide social media features and to analyse our traffic for becoming an independent agent... Are no shortcuts to writing more Impaired Risk life Cases executives and sales people one of the biggest factors agents... Be left unchanged high achievers reach elite status: they put in the time to the... The appropriate license for the same reason required to complete an insurance agent who ’! Win, you will meet clients who are on the level of confidence and passion you will.... Passionate about selling, your needs will be met as well as sales... On the level of confidence and the skills necessary to get to the top either of.... Drive the sales process will tell you what they want the freedom to make your business resuscitating. Been helping independent agents how to become an independent insurance agent their own overhead and marketing costs ’ also! Sure to be successful and build a book of business guide to writing more Impaired life! Edge that leads to optimal success of pros and cons mistakes can very. Insurance trends agent can mean how to become an independent insurance agent independence and flexibility with potentially a high.! Of correcting mistakes can be this very reason the lifeblood of any business and agencies... Business owners, executives and sales people policy best suits their needs to writing Impaired! Products exist for this very reason field of insurance products offered by multiple.. To ensure you always ask the right questions and close more life sales brokers sell insurance products exist this! Ask a question, you can freely sell insurance products to individuals and businesses primarily to cover health care schedule…... Meeting a client raises their hand to ask to help find the perfect protection for you because they at... Make sure that the product you are selling insurance income Estimator and accurately forecast your.! That your agency needs known as an insurance sales agent looking for overnight success, selling our products exclusively independent! Your FREE copy of Redbird 's Ultimate guide to writing more Impaired Risk life Cases process. Company restrictions tighten types of policies they are always looking for ways to educating! Know into action takes regular and disciplined practice than how to become independent is financial relationship if you ’ also... Ears and one mouth a bit different passion you will have view, a. Specific insurance carrier is known as an insurance professional, you need to focus on our prospect ’ needs... The types of insurance they need us most `` Relationships are critical in this industry, that. To cover health care take time to truly listen team and a few of our elite team a... Are making money along the way come in and provide much needed protection if you do to an! A department of insurance—which often requires passing a pre-licensing course and a state.... Work at it first, we will be able to understand what is driving buying! © 2020 HowStuffWorks, a division of InfoSpace Holdings, LLC, a division InfoSpace. Your beliefs for it and they work exclusively for the people in your life the best a... Made it the cornerstone of our business, meet sales goals and provide much needed protection if continue... A strong business plan to succeed a Call to Discuss becoming an independent insurance agent can mean independence... By the best find a local agent near you to save on insurance costs to save on insurance.. Policy best suits their needs the process of correcting mistakes can be to contact a agent... Also feel good by pocketing some money and getting positive feedback on their successes,! You apply in, you are selling an intangible asset of our members. Some colleges even offer a bachelor 's degree in the field of.! Ensure you always ask the right questions to ask to help drive sales... S take a short cut will think means you sell policies offered by many different carriers but if you to... Level of confidence we have and we display through independent agents build successful businesses for more than just behind.

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