An insurance agent plays a crucial role in bringing the insurance company and buyer together. He sells the insurance policy directly to the buyer.
An insurance agent understands the needs of the buyer and suggests suitable policies to him. He also takes note of the budget of the buyer in order to conclude the most suitable policy that fulfils his needs. However, it requires skills to sell the policies. An agent should have the necessary skills to build a successful career.
Skills Required to Become a Good Insurance Agent
Let us discuss the skills that an agent should have to become a good insurance agent.
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Communication Skills
An insurance agent must have good communication skills. He must be able to put forward his suggestions to the buyer. A buyer may not be able to understand many terms of a particular insurance policy. The agent must have the skill to guide the buyer about the policies. He should also attend to the queries of the buyer and advise him with a constructive solution. A good communication skill always helps an agent to sell more policies to the buyers. Clear communication also helps the agent to discuss the features of the policy.
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Attention to Detail
An insurance advisor must pay attention to the query of the buyer. In addition, he must have a detailed knowledge of the policy he sells to the buyer. He may lose his client in the absence of detailed knowledge. A buyer may have many queries to ask the agent. If the agent fails to attend to such queries, this may lead to the loss of a buyer.
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Analytical Skills
An insurance agent may face many complex situations in his profession which require analytical thinking. An agent must have problem-solving skills to deal with complex situations. Their analytical or problem-solving skills are helpful in their career. Understanding and critically analysing the customer's needs is an important duty of an agent.
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Honesty
An insurance agent must be honest towards his duty in order to become a successful agent. The buyer pays a considerable amount in order to buy the policy. In response, he deserves full honesty from the agent as he fully relies on the agent after buying a policy. An agent must match this quality and abstain from doing a fraudulent act which may hurt the belief of the buyer. He should always be truthful toward his client.
In addition, he should not hide any information about the insurance that a buyer must know. He should put forward everything in detail. He should also guide the buyer about the advantages and disadvantages of having a particular policy. This helps him to win the trust of the buyer.
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Good Listener
It is important for an insurance agent to have great communication skills. At the same time, he must be a good listener. A good listener is an important skill for selling a policy. An agent should always listen to his client and then suggest the measures that he may take. A client also wants the agent to first listen to him and then suggest the approaches to be taken.
The ability of good listening is also important to understanding the issue of the client. An agent can only provide the proper solution if he listens to his client. Good listening skill also helps the agent to understand the budget and insurance needs of the buyer. Hence, good listening is an important skill to become a good insurance agent.
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Product Knowledge
The insurance agent must know about the product he sells to the buyer. An agent is the source of the knowledge for the buyer. The buyers are not likely to do the research about the product if he has an insurance agent with them. Therefore, he relies on the agent for the knowledge of the product. An agent having product knowledge may answer multiple questions from a buyer.
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Willingness to Learn
An agent should always be ready to learn about the new aspects of insurance. The insurance company offers different kinds of products to the buyer. It is not easy to learn about every policy in the training session. Therefore, an agent must be willing to learn about the product. Continuous learning is one of the great ways to master this career.
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Time Management Skill
An insurance agent should have the skill to manage his time. He may have multiple priorities. He should learn how to manage the time in order to meet the deadline. Professionals are known for their time management. An agent can become successful if he can manage his time. Time management also increases efficiency and brings effectiveness to the work.
Conclusion
An individual needs many skills to become a good insurance agent. He must have good communication skills. He should have the ability to solve the issue of the buyer. In addition, he should provide exceptional customer service. He should be a master at financial planning. He must have the skill to manage his time and meet the deadline.
FAQs
Q. How to Become an Insurance Agent?
A. Here are the points that answer how to become an insurance agent.
- An individual is eligible to become an insurance agent if he is 18 years old and has cleared the exam of 10th and 12th standard.
- An individual may become an insurance agent after attending the training session and clearing the exam.
- Once he clears the exam, he may receive the license to sell the policies.
Q. Can an insurance agent become a PoSP?
A. An insurance agent may also become a PoSP agent. PoSP in the insurance sector is a new type of license introduced by the Insurance Regulatory and Development Authority of India (IRDAI) to meet the unique demand of the people. An agent needs to attend the training session and clear the exam to work as a PoSP advisor.
Q. Who can become a PoSP?
A. Here are the people who may become a PoSP.
- A normal agent
- A home-maker
- A businessman
- A college student
- A retired employee
Q. What is the job of an insurance agent?
A. An agent sells the policies and guides the buyer in order to select the suitable policy.
