How to become an insurance agent

The content of the article

• Laws on the activities of insurance agents
• Register of insurance agents
• How is an insurance agent different from a broker
• How does an insurance agent work?
• Schedule
• Earning
• Employment Procedure
• Insurance Agent Requirements
• Personal qualities
• Education
• Insurance Agent Training
• Pitfalls of the profession

The advantage of this lesson is the ease of employment. Insurance companies do not place high demands on candidates for the position of agent. This work can become a source of both basic and additional income..

Laws on the activities of insurance agents

• Labor Code of the Russian Federation. Regulates general issues of employee-employer interaction..
• The Law of the Russian Federation of November 27, 1992 No. 4015-1 “On the organization of insurance business”. Considers the features of work in the business of compensation for damage.

According to the law, an agent is an individual acting on behalf of an insurance company (IC) in accordance with a signed employment contract. The most common occupation of such a specialist is the sale of policies and the expansion of the client base.

Register of insurance agents

It includes workers who are entitled to sign insurance contracts. The main goal of creating such a list is to reduce the possibility of fraud by third parties impersonating agents. Anyone can check the credentials of a particular person and his right to provide services. In order to get on such a list, a citizen must have a valid contract with a specific insurer.

How is an insurance agent different from a broker

• Professional Interests. The broker is an independent expert who represents the client and selects the most suitable insurance option for him from the available offers on the market. Agent SK acts in her interests.
• Information coverage. For effective work, the broker needs to know the features of the services of as many companies as possible, the agent – only the one with which he signed an agreement.
• Form of incorporation. A broker is an individual entrepreneur (IP) or LLC, ZAO or PAO. An agent is in most cases an individual who works in the UK.
• License availability. Have an insurance broker. The agent does not need a license, it receives the SK.
• Type of service. A broker can act as an insurer. In any case, the agent will only be an intermediary who does not appear in the SK agreement with the client.
• Responsibility to the Insured. The broker is fully responsible for the services of the contract. This does not concern the agent; upon the occurrence of an insured event, the insurer will interact with the client.
• Commission. The broker receives payment directly from the client – the amount of deductions can reach 50% of the cost of the policy. The agent receives payments from SK – up to 30-40%.
• Competence. The broker independently evaluates the insurance risks of the client. This is not the responsibility of the agent; the insurer does this..

How does an insurance agent work?

The duties of the employee include:

• Search and attract customers.
• Draw up new contracts and renew existing ones.
• Create your own customer base.
• Report on progress.
• Properly advise interested parties on company offers.

Schedule

• For employees. Normalized working day, during which you need to arrange meetings with clients, offer them insurance services, travel to sign contracts.
• The persons on the contract have a free schedule. The citizen himself determines the length of the working day and the number of clients with whom he must talk. He can work at home, offer to purchase policies by phone or online.

Earning

The main part of the income is generated by the remuneration from the concluded contracts, while for each type of insurance there is a range of rates:

• CTP – 10–25%.
• CASCO – 15-30.
• Green map – 15-30.
• Property – 25-30.
• Accident – 25-30.
• Voluntary health insurance – 15–25.
• Construction risks – 15–20.
• Cargo transportation – 15–20.

Employment Procedure

Jobs can be found on the websites of insurers, online resources or in print publications for job search. Often, people who are registered with the Employment Centers offer an insurance agent. Options may be work in the state or under a contract.

For hire

It is necessary:

1. Contact an IC that has a vacancy.
2. Have an interview.
3. Write a job application.
4. Submit it to the personnel department, wait for consideration (it may take up to 3 days).
5. If the decision is positive, prepare a package of documents for employment.
6. Sign an employment contract with a company.
7. Get access to your personal account on the site, handouts (booklets, leaflets with insurance terms, business cards, etc.) and start searching for customers.

The package of documents includes:

1. Passport of a citizen of Russia.
2. Personal Account Insurance Number (SNILS).
3. Proof of Marital Status – for those who are married or divorced.
4. Employment history.
5. Birth certificate of children (if any).
6. Taxpayer Identification Number (TIN).

According to agency agreement

The actions and package of documents are the same as for employment with the exception of:

• Agent agreement is signed with a citizen.
• A package of documents is prepared without a work book..

Insurance Agent Requirements

• Citizenship of the Russian Federation.
• Age – from 18 years old.
• Registration in the region of work.
• The candidate should not have overdue fines and debts.
• Lack of litigation with insurers.

Personal qualities

• Neat appearance – the employee must make a good impression, only then they will want to communicate with him.
• Sociability – you need to be able to talk in an accessible form about the benefits of insurance products and the benefits that a citizen will receive if he purchases a policy.
• Good memory – we must remember the conditions of different insurance options, especially if work is carried out with several companies.
• Perseverance – it is necessary to set a goal and move towards it. The employee must understand that temporary failures are a feature of work.
• Stress resistance – it is required to calmly respond to the replicas and objections of the interlocutor, even when they are made in a rough form.
• The ability to convince, resourcefulness, knowledge of psychology – it is necessary not only to tell, but to interest the interlocutor in the purchase of the policy.
• Punctuality – You cannot be late for an appointment.
• A responsibility – it is necessary to work with strict reporting forms, to accept cash from customers.

Education

In order to work as an insurance agent, a university diploma is not required, a certificate of secondary education is enough. All the necessary knowledge can be obtained at special courses. They are periodically conducted by insurers for their staff..

Insurance Agent Training

At special courses for 1-2 weeks to the employee:

• They will talk about the most popular insurance products..
• Learn to negotiate with a client, increase his interest.
• Explain how to work with objections.
• They will show how to fill out documents when selling a policy.

Education is free, in many cases it is a group lesson. Some companies practice online Skype courses. After passing the mandatory program, certification is passed on the passed disciplines. Successfully passing the exam receive a certificate of completion and can begin to work.

In many companies (RESO-Garantia, etc.), personnel are trained in stages:

• Beginner’s Course on Employee Work and Popular Insurance Products.
• Extra education.
• Specialization in certain areas (CASCO, property insurance, etc.).

Pitfalls of the profession

Features of work:

• Monthly income depends on the number of policies sold.
• Communication with a lot of people. The need to constantly be polite, to avoid conflict.
• If the nature of the work is traveling, high travel costs.

This profession is suitable:

• Those who need extra income.
• Energetic people with an active lifestyle.
• Those who have a lot of free time – pensioners, students, housewives, etc..

Profession does not fit:

• To non-communicants.
• Unorganized, undisciplined people.
• For those who need a stable salary.