There are almost 400,000 insurance agents active in the US according to the Bureau of Labor Statistics (BLS). Independent insurance agents are look to use emerging technology to help reach new customers, help offer better and faster customer service, and help increase customer life-cycle value. If you have been considering a career as an independent insurance agent, some benefits include:
When you work for an insurance agency or other business, you answer to a supervisor. As an independent insurance agent, you'll be your own boss. You'll make your own hours, choose which products to offer, and decide how you want to market your services. Independent agents "get out of it what they put into it," building their own book of business over time. They have full control over their schedule, workload, and location. This can be a great option for individuals who need location flexibility, are highly organized and focused, and are strong networkers.
Unlike some professions that require very specific advanced degrees, like law or medicine, there are no minimum education requirements to become an independent agent. This means that no matter your education background, you can pursue this career. You will need to be licensed to sell insurance in your state, a process that varies state to state.
Are you a long-time resident of your state, city or community? This local knowledge can be an asset for building relationships and counseling prospective buyers on policy options. For example, knowledge of local climate and weather events, local tax laws and regulations, and seasonal changes can provide valuable market insights to insurance buyers. Yes, insurance buyers can choose to research this data themselves, but your ability to provide this market intelligence and insight can offer buyers far more value than simple statistics.
As insurance sales become increasingly virtual, some customers can feel confused by price calculators or pages upon pages of disclaimers. As an independent insurance agent, you bring personalized service to customers, helping them to navigate their different options. You help them make the best choice for their individual needs— providing valuable peace of mind for your customers.
When you work for another company, you're associated with their brand. As an independent agent, you'll be the face of your own business, marketing your brand and forming relationships. From hiring your first employees to growing your business, you'll be in charge each step of the way. You will have full autonomy to spend time forging long-lasting relationships that benefit your customers and generate recurring income.
Starting your career as an independent insurance agent and building your own business can be personally and professionally rewarding.
