Top 3 Soft Skills For Life Insurance Agents


They should also have critical thinking skills and be skilled in solving problems effectively and efficiently. While building rapport is a significant part of the process, the needs of the customer come first. A broker should take the time and effort to make sure that the policyholder knows what they are signing up for and feel comfortable about doing so. Certainly, you understand that your products and services have value. You must convey that value while staying mindful of a potential customer’s budget and attitudes. Truly planning an insurance program geared toward the basic needs and financial status of a budding client helps show that you know your customer.

Find and present the facts that support your answers and practice your argument. Soft skills, also called people skills or interpersonal skills, distinguish leaders and valued team members in professional fields. Most employers seek people who have strengths in these interpersonal skills in addition to technical know-how. These may not be the skills you think soft skills for insurance agents to put on your resume, but they are important skills to develop to excel in the insurance industry. As an insurance agent, you need this skill to convince potential customers to purchase your company’s products. While it’s true that some people are more gifted than others, even the most innate salesperson needs proper training in order to produce optimally.

  1. This can be as simple as a word document or a more complex tailored spreadsheet.
  2. If you’d like more information about insurance agent skills assessments, review some frequently asked questions and answers listed here.
  3. They also include skills in understanding cause-and-effect relationships and recognizing assumptions.
  4. Insurance agents work directly with clients to find the best coverage path the company can offer them.
  5. Getting a CPA and becoming a financial advisor may not be your goal, but life insurance agents often sell insurance and retirement products.
  6. For this, you’ll need to prioritize time management and organization to remember to touch base with your customers and continue the conversation.

That’s why business colleges offer this sort of training in a classroom setting. You can also learn from trial and error but you must be very honest with yourself as you try to close as many leads as possible. Internships and mentorships with seasoned salespeople are always best. You get to hear how the pros do it by listening in on calls and possibly attending meetings.

Professional Skills

There are many ways to do this, including reading industry publications, attending conferences and seminars, and networking with other professionals. By staying abreast of industry news, agents can be sure that they are using the most up-to-date methods and strategies. One of the most important traits of a good insurance agent is that they appear to be excited and eager at all times. A worn-down or dreary disposition will immediately rub off on clients and discourage them from buying anything.

Insurance agents also need to be able to listen to customer needs and concerns in order to provide the best possible service. These items above are just some of the qualities that life insurance agents must possess in order to be successful. The life insurance business can be very challenging and immensely rewarding for those who are willing to learn the necessary skills to build their business. Annuities are financial products that provide a steady income stream over a period of time.

Professional writers and data scientists comprise the Zippia Research Team. If you have a sales-minded professional with a passion for the insurance industry, then we’re interested in you. Getting a broad education always helps to develop your character.

Customer service skills incorporate elements of problem solving and communication. They involve active listening to understand each client’s unique situation and experiences. Thus, your candidates with customer service skills are able to connect with clients on a deeper, more personal level. If you are interested in a career in the insurance industry, you might wonder what an insurance agent does.

It is important to use a friendly tone, especially when communicating over the phone when the client cannot see your facial expressions. Soft skills may seem like traits that “you either have or you don’t,” but these are skills that can be learned and developed. For example, let’s say that someone is telling you about how unhappy they are with their current carrier. Throughout the conversation, the customer says they’ll have to pay a new homeowner’s rate on top of other premiums like their car insurance.

How Important is technical expertise for Insurance Agents?

It is an important skill for insurance agents, as they often have to negotiate with clients, insurance companies, and other professionals in the industry. Regardless of which time management tool you use, make sure to find a system that keeps you organized with phone calls and meetings. Selling insurance can be a hectic career, and you’ll occasionally neglect clients without meaning to. With that said, you must learn how to manage your time efficiently so that your most important clients don’t get lost in the shuffle. Use most of your energy on generating new business and retaining relationships. You are not only generating new leads, but you’re also following up on leads, checking in on existing clients and giving quotes to referrals.

Critical thinking skills

Insurance agents use financial resources to assess clients’ needs and create customized insurance solutions. They interview prospective clients to gather data about their financial resources and use this information to recommend appropriate insurance policies. They also prioritize time and financial resources to meet sales objectives and generate leads for new business. Many insurance agents get into habits of tackling everything on their own. This may come from a personality preference (maybe you were a kid who hated group projects in school!). Or maybe you think that your supervisors will think less of you if you aren’t doing everything yourself.

Financial math skills test

Rebuttals will happen, and you must have solid responses to those rebuttals. “It’s too expensive,” “I already have insurance,” and “Let me think about it” are common rebuttals, but there is always the potential for an unusual question or rebuttal from a client. Ask friends or colleagues to simulate an insurance sale with them asking difficult questions. You can take it a step further and ask your more experienced colleagues to create a realistic situation. This will help your clients feel they have the space to discuss any concerns or ask questions. Remember, however, that nonverbal communication goes both ways.

It may sound simple, but creating and sticking with a regular schedule helps improve productivity. Having a daily routine, provides structure that allows successful insurance agents to manage their time and be flexible when opportunity knocks. Some successful insurance agents are strict and schedule their phone time, email time, and networking time down to the minute. Others choose to block out some tasks but leave openings in their schedules for more organic connections. Both styles of scheduling work well and it really comes down to your personality.

Of course, an insurance company may offer some assistance if you’re a captive insurance agent, but it’s really up to you to attract and retain customers. Promising candidates can use sales skills to discuss their insurance policies in an engaging, transparent manner. For instance, travel insurance agents may assess their client’s travel insurance needs and align their strategy to this. They may explain why having travel insurance is beneficial, such as for trip cancellation or medical expenses, and support customers in selecting the most appropriate coverage.

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