8 Qualities That Make a Good Insurance Agent
In 2023, becoming an insurance agent in India is very simple. Anyone over 18 can become an agent by just fulfilling some essential criteria. But what are the qualities and skills necessary to become the best agent? Keep reading to find out.
But before getting into these factors, let us first set some context and explore who is an agent, what they do, and how you can become one.
Who is an agent, and what do they do?
An insurance agent is an intermediary between an insurance provider and potential customers. They are responsible for generating new business and keeping good relationships with existing customers by advising them on the different policies offered by the insurance company and recommending the best plan based on their needs. An agent is sometimes required to provide financial advice to help budget and plan the plan based on the customer’s finances.
There are usually two kinds of insurance agents; the first type is an exclusive agent affiliated with and representing only a single insurer. The second type is an independent agent, free to represent any number of insurers they want.
How to become an agent?
Not only does becoming an agent require no financial investment from an aspirant, but it is also effortless. As long as an aspirant fulfils five simple eligibility criteria, they can get licensed by the regulatory authority for Insurance.
These criteria are listed below:
● The applicant must be at least 18 years old.
● The applicant must have completed at least 10th or 12th, depending on where they are from.
● The applicant must have an Aadhaar card and a PAN Card.
● The applicant must complete mandatory practical training.
● The applicant must also appear and pass a prescribed test.
Suppose an applicant fulfils the criteria of being at least 18 years old, completing their secondary or senior secondary, and possessing these identity proofs. In that case, an insurance company can help you fulfil the remaining two criteria.
The following are the steps you can follow to become an agent.
1. Do your research and find an insurance provider you would like to work with in the near future. In my case, I currently work as a Health Insurance Agent at Niva Bupa, a leading health insurance provider in India.
2. Visit the recruitment page on their website and fill out the form.
3. Submit the details as well as any requested documents.
4. Respond to the email or phone call for the visitation.
5. Complete the practical training with the insurance provider.
6. Then, start preparing for and attempt the examination.
7. Once you have cleared the examination, you will receive a license and sign the contract with the insurance provider to start working as an agent.
What are the top 8 Qualities That Make a Good Insurance Agent?
Several qualities and skills are sought after in an agent and can make the difference between success and failure. Here are the top 8 qualities that can make you a good agent.
Analytical ability: Understanding and analysing the customer’s needs and pain points is essential to become a successful agent.
- In-depth knowledge of the policies you are dealing with
Having an in-depth understanding of the policies one is dealing with is essential. This can make recommending policies to customers and the explanation for the same much easier.
- Communication skills
Being able to communicate with the customers properly is vital. Despite having a revolutionary policy that can solve all of your customer’s problems, they may reject it if it is not conveyed correctly.
- Financial understanding
It happens often when customers need clarification about the pricing and whether they can afford the right plan.
- Empathy
Empathising with the customer can help convey your understanding of their pains and your efforts to solve the problem.
- Persistence
As an agent, you might meet dozens of customers daily but face rejection from all of them. Becoming a successful agent requires accepting rejection the previous day and trying equally hard or even harder the next day.
- Honesty
Being honest with the customer, offering them accurate information, and recommending policies which are actually what they need help build a positive long-term relationship with them.
- Energy
No one enjoys dealing with people who are constantly feeling down. An agent should be able to switch between high energy and more somber energy depending on the situation and the context.
Conclusion
These core qualities create the distinction between being just one agent in a cogwheel or being good at what you do. By following the above steps, anyone can become an agent, and by infusing these qualities into one’s day-to-day life, you can make a difference and become one of the best insurance agents and get the best benefit out of this job.
