application form
form at home page for recruitment
"*" indicates required fields
Working as an insurance agent allows for flexibility, and it often takes only a few weeks to acquire a license.
Both fresh and seasoned professionals may find the opportunity to launch a career in insurance enticing. It’s a career path that offers flexibility and a wide range of fascinating clientele, depending on the focus area. State-specific criteria vary, but often take far less time to complete than those for other jobs that call for a license.
What is the exact length of time required to become an insurance agent? Most people have a few weeks to become one. Your ability to complete an online course that needs a specific amount of study hours will mostly influence how quickly you can get licensed. Once your test and background checks are over, there may be a week or two of waiting before the license is awarded.
Consider taking these steps to become an insurance agent if you’re prepared to enter the world of insurance sales.
1. Choose the type of insurance agent you want to work with.
You will need to decide between two types of insurance agents when starting your insurance agent business: captive and independent.
CAPTIVE INSURANCE AGENT – A representative of a single organization, generally a major national insurer. The captive business offers the agent assistance and training. In exchange, the agent is prohibited from selling insurance to rival companies and must only promote the company’s products.
Many captive insurance agents are compelled to sign a non-compete agreement, which for a set amount of time restricts them to working solely for one insurance provider. Based on the marketing assistance the carrier gives the agent, commission rates may be reduced.
INDEPENDENT INSURANCE AGENT – A person who works for multiple insurance providers is known as an independent insurance agent. To discover the best policies and prices, the agent gives clients policy quotes from various firms.
Independent agents offer a wider range of products, but they get less support and training from the insurance companies they deal with.
It can be more difficult to become an independent insurance agent because agents must develop their own brands in the markets they serve rather than depending on marketing assistance from well-known insurers.
What is the exact length of time required to become an insurance agent? Most people have a few weeks to become one.
2. Select the insurance products you will offer for sale.
Commercial insurance and personal insurance plans come in a variety of forms.
Commercial insurance brokers concentrate on offering protection to companies through a variety of products, including general liability, commercial property, and errors and omissions coverage.
Personal insurance focuses on providing protection for single people and families. This covers life insurance, house insurance, and automobile insurance.
3. Review your state’s licensing requirements
You must know the products you will be offering (see below) before you start the licensing procedure in order to select the right license for your insurance agent firm. Depending on the state you live in, your license will have a different name.
WHICH TWO LICENSE TYPES ARE MOST USED?
Property and casualty license, for brokers that want to assist customers who require business, house, and vehicle insurance.
Life, health, and accident license, for agents that want to help people who require insurance for life events, such life insurance, accident insurance, or health insurance.
You may need to get various licenses depending on your job goals. The organization you intend to represent or your state’s licensing office will need to provide you with the specifics.
4. Take an insurance license exam.
You must successfully complete a pre-licensing course in most states. Many of these are available for online or in-person learning. Depending on the state, requirements might range from a one-day session to 20–40 hours of online training.
You will have to arrange your formal license exam after you have completed any pre-exam prerequisites specified by your state. These tests are typically proctored by an outside company. To take the online test, you must show up at a testing location at the appointed time and date. Before taking the exam, you could be asked to present documentation of your training course completion.
DURING YOUR INSURANCE LICENSURE EXAM, WHAT TO EXPECT?
The exam procedure is typically not challenging, especially if you have fulfilled the prerequisites and are well-prepared. When you arrive at the appointed hour, you’ll be shown to a computer. Multiple-choice questions are the norm for test questions. When the test is over, you’ll know right away if you passed or not. You can reschedule and retake the test if you don’t pass on your first attempt.
5. Submit your background check and license application.
You must submit the necessary licensing applications to your state’s licensing bureau once you pass the exam for a state insurance license. A background check may be necessary in some places, and it might entail fingerprints. You will be able to discuss and sell insurance policies legally once you have received your formal license.
6. Obtain a product-selling appointment with an insurance firm.
Before you are permitted to offer an insurance company’s goods, you must be appointed by the firm. Each insurance business you intend to sell products to will require that you fill out an application and be given an appointment and binding authority, which is shown on your state insurance license.
7. Find and maintain clients.
You are authorized. What’s next? You should start looking for clients. Many insurance agents start out by creating their own policies and cold-calling friends and family. This is an excellent method to understand how the systems operate and gain confidence in quoting additional coverage.
It makes sense to start marketing your agency at this time. You could wish to look into local advertising possibilities, start a website and advertise your company online, or join the local chamber of commerce. There are many possibilities, and you’ll probably need to try a few different ones until you find the one that works best for you.
8. Invest in insurance to safeguard your company.
As a brand-new insurance agent, you need also make sure that your company has business insurance to protect it. There are various forms of insurance to take into account:
General liability insurance: In a variety of circumstances, general liability coverage will offer you protection. If a customer is hurt while in your office, claims of bodily injury are one of the most frequent hazards. An injury and a liability lawsuit could stem from anything as simple as tripping on carpet. This coverage can be added to a business owner’s policy together with commercial property insurance, frequently at a discounted price.
Errors and omissions insurance: Almost all insurance firms demand E&O insurance coverage before allowing you to write their policies. This shields your clients from any mistakes you or your personnel might make. For instance, if you unintentionally remove the wrong car from a policy, the accident won’t be covered. Your E&O coverage will take care of the client if you are at fault for the error.
Workers’ compensation insurance: The purpose of workers’ compensation insurance is to safeguard your business from lawsuits involving your employees. It will cover a portion of lost wages and medical expenses if an employee gets hurt at work. Most states require businesses to obtain workers’ compensation insurance, even if they only have part-time employees.
Source: American Family Insurance
Stay in Touch
I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit.