What does it take to be an Insurance Agent?
If you have been considering a career in insurance, have you thought about becoming an agent? This insurance career has room for growth and earning capacity. There are opportunities to sell a wide variety of insurance types such as life, property, casualty, health, auto, business and more. Agents can work independently, can be employed by an insurance company or refer clients to brokers. This role may be called Insurance Agent, Insurance Broker, Account Executive, and Producer, among other names. With 2,290 annual projected job openings in Ohio, this career path may be a great fit for you!
Agents have a variety of job duties. They seek new clients and develop potential clientele through networking. They interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage. They explain features, advantages and disadvantages of various policies to promote the sale of insurance plans. They also call on policyholders to deliver and explain their policy and suggest additions or changes.
Important Occupational Skills
Important skills for an insurance agent include active listening, the ability to solve complex problems, persuasion, being service oriented, and having good time management. For a complete list of important occupational skills, check out the Insurance Agent Career Pathway.
Earning Capabilities and Advancement Requirements
At the associate level, Insurance Sales Agent Trainees with a high school diploma or GED, state licensing, and short term on the job training can make between $20,000 to $35,000 a year.
Insurance Sales Agents can advance to the specialist level by obtaining an associate’s degree, and additional work experience. This level could make from $30,000 to $75,000 a year.
The next levels for advancement would be managerial roles such as Sales Manager, District Manager and Senior Sales Agent. These roles could make between $50,000 and $100,000. The Executive level role can make $100,000 or more annually. These two levels of an Insurance Agent’s pathway require a bachelor’s degree, multiple years of work experience and Professional Certifications such as the Accredited Advisor in Insurance (AAI), Certified Professional Insurance Agent (licensing depends on types of insurance you will sell), Chartered Property Casualty Underwriter CPCU and Certified Risk Manager (CRM).
With the potential for growth and stability in this career path, becoming an Insurance Agent is worth exploration. Learn more about the Insurance Agent Career Pathway here. For additional insurance career resources, visit insurancecareers.org.