The insurance industry is one that’s rapidly evolving – consistently offering career opportunities as well as opportunities to make a positive difference in people’s lives. Interested in pursuing the possibilities? To help prospects learn more, we’re answering a few of the most frequently asked questions, including the most important: How to become an insurance agent.
What does an insurance agent do?
Considered a salesperson – albeit, a salesperson who’s protecting people’s livelihoods – insurance agents determine the products that will keep a customer covered. To do this (and to do it well), agents must cultivate thoughtful relationships with their clients – evaluating their unique needs, then presenting policies that meet those needs. Through this important process, insurance agents offer financial stability and peace of mind … and a promise to provide their service and support when it matters most. Throughout their typical 40-hour work week, agents are also in charge of 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 search for policies across multiple carriers – finding the best coverage for each individual’s needs. And that’s why we work 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 property, such as homes, cars and household items, are covered in the event of serious financial loss, like a house fire or car accident.
- Commercial: Commercial insurance agents work to protect businesses from events like fires, theft, data breaches, worker injuries and many other risks.
- Life: Perhaps the ultimate product for peace of mind, a life insurance policy pays a designated beneficiary upon a person’s death, helping survivors face the future with additional financial resources.
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 truly make a difference in the area where you work, live and play? Based on our more than 150 years of experience, we believe anyone who says “yes” would find a career as an insurance agent to be highly fulfilling. Plus, with work perks like an easy entry into the field, the ability to choose your own office environment and essentially unlimited earning potential, it’s work that can reward you – in and out of the office. 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 U.S. Bureau of Labor Statistics reports the employment of insurance agents is projected to grow 5% from 2019 to 2029, faster than the average for all other occupations. In this 10-year span, 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 college degrees. And while there’s no set field of study, aspiring agents may consider courses in business, economics, finance, marketing and/or psychology, as these classes could offer insights into selling and promoting your products as well as understanding consumer behavior.
- Get licensed. Insurance agents must obtain licensure in the state in which they intend to sell for each product they plan to promote. For example, if you intend to sell both home and life insurance, you’ll need two different licenses. The licensing process could include classroom training and/or a self-study, and it will require the passing of an exam.
- Start your search. When you’re ready to offer protection and peace of mind, find a job that will give you a platform for you to do the work you love. The work you’re passionate about. The work you can be proud of. While Frankenmuth Insurance doesn’t directly employ agents (as we work with independent agencies), we suggest visiting your preferred career-oriented website, like LinkedIn or Indeed, to get started.
- Increase your expertise. In the insurance industry, you never stop learning. Agents have countless opportunities to build their knowledge, be it continued education courses or supplemental certifications. When you’re ready, your coworkers should have helpful suggestions.
Once you’ve turned your dream job into a reality, discover the benefits of working with us. Frankenmuth Insurance partners with more than 600 independent insurance agencies – proactively protecting people and businesses in 15 states. To start a working relationship with us, established agencies can apply at any time.