Why be an insurance agent?
Sometimes, my friends rag on me: "Why are you an insurance agent, again?" There is a misconception that being an agent is boring, paper-pushing, and 'shady' with organizations just trying to deny claims.
Allow me to bust this myth!
Being an agent in our organization is being a trusted adviser in which your client is dependent on you. You develop relationships with clients and diligently work to offer the best product for their needs.
Being an adviser is fun, engaging, and rewarding. I've found carriers to be fair and charitable: like Liberty Mutual and their COVID-19 emergency grants awarding $15M to NGOs serving front-line workers & vulnerable populations. And when a client faces a lawsuit or natural disaster, they are thankful to have placed their trust in you and your advised product. Here are some other highlights:
I've been an insurance agent for 4 years and learn something new almost everyday. And I hear the same thing from professionals I work with that have decades more experience then I have. Between the requirements for a client insurance policy, claims scenarios, unique considerations for a risk, and the various carriers we interface, there is area to grow and fresh experiences regularly.
Appreciated Service to Clients
There is something special about the insurance adviser-client relationship. Like other Financial Advisers, we build a trusting relationship with intimate knowledge of asset and liability exposures. Beyond that, insurance advisers have the ability to both save clients a significant amount of money in a quick review and save clients from unforeseen circumstances years down the line. Also, oftentimes an insurance policy is a step along the way of progression of individuals' and businesses' growth, whether that be a new car or a new contract sold.
There is something special about the insurance adviser-client relationship.
Friendly Competition [with Unfair Advantage]
If you like to compete, you'll appreciate the competitive nature of retail insurance. Not only are you competing against the current agent of policy, but you could be competing against other agents competing for the new business and carriers that sell directly to consumers. 4 major means of differentiation include:
Speed: policies oftentimes are
Service: more art than science, building rapport with clients is a skill that takes time to craft
As for the [unfair advantage]: being an independent insurance agency, we are able to offer insurance products from multiple carriers as opposed to a captive insurance agency - like State Farm, Allstate, Farmers, and others - who can only offer 1 product.
Limitless Industries of Interest
I've worked with college students taking out their first renters insurance policy to staffing agencies that are supporting client operations around the country. Like me, you can be a 'generalist' and serve all types of policies and industries. Or you can specialize in a line of business, such as workers compensation or homeowners insurance, or industry, like construction or restaurants.
Stable Career Path
The U.S. Bureau of Labor reported that the Insurance Carriers and Related Activities has a 4.6% Unemployment Rate as of June 2020; respectively, the National Unemployment Rate is 11.1%. On top of job security, you'll experience growth as a function of time and dedication to learning. As you develop, there tends to be a snowball effect on sales. While building trust with clients you'll receive referrals, cross-sales to other insurance policies, and carriers offering more incentives to partner.
Moreover, Fenix Risk Management has grown from 0 clients to thousands in a period of 3 years. Being a part of the rapidly accelerating organization with carriers and products enhances the journey and opportunities.
If you are interested in a career in insurance, I'd be happy to be a resource to share my experience.
Fenix Risk Management is an independent insurance agency proudly serving families & businesses in GA, AL, NC, SC, TN, FL, KY, NJ, TX & VA.
Simmy is an adviser at Fenix Risk Management, helping businesses and individuals navigate their insurance portfolios.
Note: the opinions expressed in this blog are that of the author, not of any other individual or organization referenced. Discuss details of your insurance with a trusted adviser as this blog is unspecific to your coverage. He can be reached at firstname.lastname@example.org.