Insurance Training Center’s Post

There's more to hiring #insurance agents than meets the eye. These 10 traits are vital to success.

🔍 Ever wondered what it takes to be an insurance #underwriter? Let's break down the key responsibilities of an Insurance Underwriter and see what makes this role so crucial! 🛡️ 📊 1. #Risk Assessment: Underwriters dive deep into the applicant's details—age, health, occupation, lifestyle, and past insurance claims. They should figure out the level of risk involved in providing coverage. 🧩🔍 📜 2. Policy Evaluation: They meticulously review insurance applications to ensure everything checks out. Does the applicant meet the insurer’s underwriting guidelines? Is the proposed policy a good fit for the company’s risk appetite? It’s all about matching the right policy with the right person! ✅📝 💰 Premium Calculation: After assessing the risk and evaluating the policy, underwriters need to calculate the premium. This ensures the insured party pays a fair amount to obtain #coverage. It's a balancing act that keeps the insurance world turning smoothly. ⚖️💵 🌟 Want to dive deeper into the role of an insurance underwriter? Check out our latest article for all the details! https://lnkd.in/ebCTQsfB #InsuranceUnderwriter #RiskAssessment #InsuranceIndustry #InsuranceInsights #Finance #job

Navigating Risk: Explore the Insurance Broker Job Description! Dive into the dynamic world of assessing risks, recommending policies, and building client relationships. Discover the skills and responsibilities that define this crucial role in the insurance industry. https://ow.ly/h22u50Qh1F8

"Transforming Sales into Relationships: Join Us as an Insurance Relationship Manager! 🚀 Elevate your career in the dynamic world of insurance sales. Ready to make your mark? Apply now! #SalesRevolution #RelationshipBuilding #CareerGrowth" #InsuranceSales #RelationshipManager #CareerOpportunity #SalesJobs #JoinOurTeam #InsuranceIndustry #CareerGrowth #SalesSuccess #ClientRelations #OpportunityKnocks #SalesLeadership

A prospect reached out today. They were very vocal about quoting with several brokers. I feel like it was a tactic to apply pressure, to get the lowest possible quote and beat out the others. It got me thinking... Insurance buyers drive a lot of their own problems they experience with insurance. When you create competition at the agent level, you will get policies with gaps in coverage and high deductibles because you're telling the agent that prices matters. When it comes time claims and frustrations builds, service is lacking, denied coverages occur...it all stems from the initial ask "I want to pay as little as possible". Yet, the perceived problem is with the industry as a whole. The industry has it's faults, no doubt, but we all owe it to each other to not be part of the problem. Let's have better discussions around what it means to buy insurance, how to buy insurance, and when to use insurance... Have a plan and being prepared works. Hoping for the best will lead to repetitive failures. It's our choice.

Insurance Brokers; struggling with finding new leads? Here’s what I recommend based on my 3 experience recruiting in the insurance industry. Insurance brokers need to be constantly on the lookout for leads because their business heavily relies on building and maintaining a steady stream of clients. Unlike many other professions, the nature of insurance sales means that brokers must continuously replace clients who may cancel policies, switch providers, or no longer need certain types of coverage. Without a proactive approach to lead generation, brokers risk facing significant gaps in their client base, which can severely impact their income and business growth. Furthermore, the insurance market is highly competitive, with numerous brokers and agencies vying for the attention of potential clients. By consistently seeking out new leads, brokers can stay ahead of their competition and position themselves as the go-to experts in their field. This not only helps in acquiring new clients but also strengthens their reputation and credibility. Regularly finding leads ensures brokers can offer a wider range of options and tailored solutions, meeting the diverse needs of their clients and enhancing overall customer satisfaction. In addition, the regulatory and economic environment surrounding insurance is constantly evolving. New policies, changes in legislation, and emerging risks require brokers to stay informed and adapt their offerings accordingly. Actively seeking leads allows brokers to identify new market trends and opportunities, enabling them to offer relevant and timely products to their clients. This adaptability is crucial for staying relevant in the industry and ensuring long-term success. If you learnt something, hit like! #insurancejobs #insurancerecruitment #careersininsurance

Knowledge is power. We all know this. But then why do so many insurance buyers continue to commoditize a product as complex as insurance? Candidly, I think it falls on the brokers. We've conditioned them to commoditize us and that is 100% our fault. Historically, brokers at large have done a poor job of educating clients and providing value outside of the simple act of placing insurance. The insurance buying process has historically been driven by two methods of purchasing: 1. Quoting with multiple agents in an effort to secure the lowest price (this never works and never will, by the way) 2. Working with an agent/broker who you are related to or enjoy golfing with This is NOT to say that relationship building is not important. It is absolutely critical. We all want to work with people we know, like, and trust. All I am saying is, that should not be the only factor you base your decision off of. I have found that (finally) the dynamics are shifting in the right direction. Insurance buyers are more hyper critical of insurance today than they ever have been, thus demanding a higher level of expertise and out-of-the-box thinking from their broker partners. The reality is, businesses face more risks today than they ever have before and this requires a higher degree of critical thinking from brokers. The quality of your broker matters. Don't wait until a claim happens to learn the difference between a middleman and a trusted advisor.

Picture this: you're in the insurance game, sticking with the same broker for years. They're reliable, save you some cash, and always pick up the phone. "If it isn't broke, don't fix it" But here's the kicker: what seems like a sweet deal might not be the golden ticket tailored just for you and your business needs. So, I recently had this client, singing praises about their long-time broker. Easy dealings, good deals—the whole nine yards. The catch? A sneaky commission loading they never saw coming, bleeding their pockets. Enter yours truly. After a ninja-style review, we found the most competitive rates without the level of protection being compromised. Picture me rolling out a crystal-clear breakdown, commissions, and all the hidden fees exposed. Now, here's the pitch: curious about your insurance options? I can discreetly check out your policies, no disruption, no alarms to your current broker. Just shoot me an email at [email protected], and I'll handle the covert operation. Skip the tedious phone calls; I'll work my magic behind the scenes and hit you back with the deets. It's a no-risk, all-gain opportunity. Let's keep that cash where it belongs—right in your pocket!

Bold statement for an insurance person: I am not a natural salesperson, the sales aspects of my job do not come naturally to me. However: - I run things full steam through the endzone. - I relentlessly work for the people the depend on me. - I study and work on policy wording to make sure I handle things in the right way. - I call claims reps bosses when the claims adjuster isnt being responsive - I call my marketing reps and underwriters to go over increases - I tell my underwriters when an insurance account is theirs at $_____, so i can quote one company, and move on, with a few additional improvements. - I know the markets pretty thoroughly, and what i dont know i will find out, and quickly - I take it as a challenge when Im the 7th agent theyve called, and no one has been able to help them - I love being the person to pick up the weird odds and ends, that might be too involved for someone else to find worth it - A lot of my referrals come from other agents because they know I wont take the lines they have themselves - I answer the phone - I can explain a lot of complex things in simple ways, sparing details when just someone doesnt care honestly - I can take the answer of no, or not now, because sometimes insurance isnt always the number one talking point. But, I'd rather be a sucky salesperson and the insurance agent I would want in my corner any day.

I knew it was bad...but yikes... "𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 𝐑𝐚𝐭𝐞 𝐟𝐨𝐫 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐀𝐠𝐞𝐧𝐭𝐬? According to the Insurance Journal, the success rate for new insurance agents ranges between 30% and 50%. 𝘞𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘳𝘦𝘦 𝘺𝘦𝘢𝘳𝘴 𝘰𝘧 𝘦𝘯𝘵𝘦𝘳𝘪𝘯𝘨 𝘵𝘩𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝘵𝘩𝘦 𝘴𝘶𝘤𝘤𝘦𝘴𝘴 𝘳𝘢𝘵𝘦 𝘥𝘳𝘰𝘱𝘴 𝘵𝘰 11%." I've also read that new Life Insurance agents have a 90% failure rate in the first 12 months. 𝐎𝐨𝐟. If you're in this game right now, you know it's a hard one. On the bright side, those who get help are way more likely to succeed. Most get product training and maybe some generic sales training. So they're woefully unequipped for a 𝑺𝑨𝑳𝑬𝑺 𝑪𝑨𝑹𝑬𝑬𝑹. That is who I create content for. I used to be one of those people. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘴𝘶𝘤𝘤𝘦𝘦𝘥 𝘢𝘵 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘴𝘢𝘭𝘦𝘴? 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘦𝘯𝘫𝘰𝘺 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘥𝘰 𝘧𝘰𝘳 𝘸𝘰𝘳𝘬? I didn't know how a decade ago. But now? I've got a few ideas now from 𝐭𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐚𝐧𝐝 𝐢𝐧𝐭𝐞𝐫𝐯𝐢𝐞𝐰𝐢𝐧𝐠 𝐡𝐮𝐧𝐝𝐫𝐞𝐝𝐬 𝐨𝐟 𝐰𝐢𝐧𝐧𝐞𝐫𝐬. 𝐅𝐨𝐫 𝐧𝐨𝐰, 𝐤𝐧𝐨𝐰 𝐭𝐡𝐢𝐬: 𝐤𝐞𝐞𝐩 𝐠𝐨𝐢𝐧𝐠. Your work is important. And your career is worth investing in. And if you make it to 12 months before quitting, you're in elite company. 𝐁𝐮𝐭 𝐭𝐡𝐚𝐭'𝐬 𝐚 𝐥𝐨𝐰 𝐛𝐚𝐫, 𝐢𝐬𝐧'𝐭 𝐢𝐭? -------------------------------------------- If you want to protect yourself against failure and humiliation, knowing how to prospect is important. I worked with 5 insurance producers for 8-weeks on a prospecting initiative. See what 𝘵𝘩𝘦𝘺 𝘴𝘢𝘪𝘥 were the 39 lessons they learned by executing 1,198 prospecting activities: https://lnkd.in/gfYuNqBz