how to become an independent insurance agent

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How To Become A Licensed Independent

Insurance Agent

This video presents all the information you

need to become a certified independent

insurance agent in the following

sequences of steps and categories:

1. Before you become an agent2. After licensing3. During your operation as an agent /

getting more sales as an agent


Before You Become An Insurance Agent


Here are four things you need to put into consideration before you can

become a licenced independent insurance agent:

1. Develop the qualities of a sales person

2. Work as a captive agent (optional)

3. Obtain insurance agent license

4. Undergo state licensing exam

Develop The Qualities Of A Sales Person


Been an independent insurance agent involves selling policies of different

insurance companies. And to be successful at selling insurance as an agent, you

will be having physical contact with many different kinds of people on daily basis;

to speak and convince them to buy insurance policies from the firm you represent

through you.

Therefore, to sell and persuade a potential client to buy policies, you need some

salesman’s qualities such as; Customer service, analytical skill, communication

skills, Flexibility, being enthusiastic, confident, disciplined and hardworking.

Work As A Captive agent (optional).


Working for some other insurance broker as a

captive agent might not be a necessary nor

compulsory step for you to take before becoming an

independent insurance agent, but would be very

helpful for you if you wish to gain some insurance

agency knowledge prior to setting up yours and been

independent.

Obtain Insurance Agent License


Aside having some good qualities and a prior captive agent

insurance knowledge, you need to be licensed, if you must operate

as a certified independent insurance agent.

We shall discus the following with regards to licensing to be an independent

insurance agent:

The various Licensing types

Educational requirement for licensing

Certification for licensing

You need to know about each and every one of the points listed above

Work As A Captive agent (optional).


Working for some other insurance broker as a

captive agent might not be a necessary nor

compulsory step for you to take before becoming an

independent insurance agent, but would be very

helpful for you if you wish to gain some insurance

agency knowledge prior to setting up yours and been

independent.

Licensing Types


There are separate licenses for life, accident, and health insurance,

and property and casualty insurance, as well as inland marine, if you

must sell any of these policies.

Note, that you will only be licensed for the insurance policy types that

you’ve pass test.

To sell life and health insurance, you’ll need a General Lines – Life,

Accident, Health and HMO insurance. To sell homeowners and auto

insurance, you’ll need a Property and Casualty Agent’s license

Education For Licensing


There are two types of education required before going for

the licensing exam : general insurance education course and

ethic course.

The general insurance educational course last between 20 to

40 hours, while the ethics course last up to 12 hours.

However, ensure that you take these courses in the state you

are planning to operate at.

Certification for licensing.


Insurance licensing certificates are jointly provided by The American

Institute for Chartered Property Casualty Underwriter (AICPCU) and

the Insurance Institute of America (IIA)

Some example of these insurance agents certificates includes :

Certificate in General Insurance, Chartered Property Casualty

Underwriter (CPCU),

Associate in Claims (AIC)

Associate in Insurance Services (AIS)

Associate in Personal Insurance (API)

Accredited Advisor in Insurance (AAI).

Take The State Licensing Exam.


After successfully scalping through the pre-licensing training

courses then you can take state certification exams. Passing

the state licensing exam grants you the opportunity to be an

independent insurance agent.

You can use your individual agent license if you choose to

operate your business as a sole proprietorship. But, if you

plan to hire other agents to be part of your insurance agency,

then you may need to obtain an agency license.

WHAT TO DO AFTER LICENSING


Since you are now a certified insurance agent, what

you need next now are these two things:

1) Register your business and

2) Ensure to “insure your business” as well.

These two steps will be beneficial for the smooth

running of your insurance agency business.

Register Your Business And Do Tax Planning.


Your need to register your business name with the

help of a certified lawyer. You also need the assistance

of an accountant for tax planning. Both registration of

your business name and tax planning are key factor

considerations that would help your agency on the long

haul.

Insure Your Insurance Business Too.


You will need to also insure your insurance

agency business. As a business entity, you will

need at least these three different business

insurance policy : errors and omissions (E&O)

insurance, worker’s compensation insurance,

and business owner policy (BOP).

TO GET MORE SALES AND APPOINTMENTS, TRY THE

FOLLOWING…….


1) Have online presence

You need to take your agency business online. To have a web

presence, you need to design your agency’s website.

2) Join insurance agent cluster group

You need to join insurance cluster groups for getting fast policy sales,

and to be able to sell different types of insurance, from several

insurance companies in a short while after you are newly licensed.


3) Buy a book of business

The surest way to gain yourself a quick recognition and make sales as

newly licensed independent insurance agent is to buy a book of

business from another well established insurance broker.

A book refers to the clients and all their associated policies. When you

purchase a book, the selling agent automatically transfers his or her

status as the agent of record for his policyholders to you as someone

whom just purchases his book.

By buying a book, you will take responsibility for the other agent.

Use an agency management software


Although you can manually perform your

entire insurance business task, but for more

accuracy, you need to use the agency

management software


I hope those tips will help you a lot. If

you have took note of this slide, it does

not give you tips of becoming a licensed

insurance agent alone, but also walk you

through how to be a successful

independent insurance agent and get

more sales.

IN CONCLUSION

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