The job description of an insurance agent is someone that sells insurance policies to meet the needs of their clients. However, that description is very vague and doesn’t really tell you what an insurance agent does on a daily basis. Here we dive deeper into the daily responsibilities of an insurance agent and what you can expect when you begin your career.
Insurance agent’s job
An insurance agent’s goal is to sell insurance policies that meet their client’s goals and budget. There are two main types of insurance agents: captive and independent. Captive insurance agents work for a single insurance provider, providing the policies they offer exclusively. In return, captive agents receive support from the insurance company, such as an office to work through and administrative support. In addition, these agents typically receive direct leads through the insurance company they represent. Captive agents earn commission on sales and, in some cases, also earn an additional salary.
Independent insurance agents can offer policies from multiple insurance companies, giving them a broader range of policies that better fit their client’s needs. However, they must rely on themselves for administrative work or hire their own administrative support team. In addition, they are responsible for finding all their own leads, marketing their business, and more. While independent agents often earn a higher commission percentage on each sale, they also must cover their own overhead and operating expenses.
Primary duties and responsibilities of an insurance agent
Whether you are working as a captive or independent agent, the primary responsibilities you have are similar. Some of the everyday tasks required of all insurance agents include:
Selling different types of insurance policies: This includes promoting policies to new and existing customers, understanding each policy available and thoroughly explaining each major point of the policy, and completing the necessary paperwork to complete the sale.
Working with new clients: Working with new clients to determine which policies they need and which policy is the best available to them. Depending on the type of insurance required, this can include investigating a client’s background, evaluating financial records, confirming medical histories, checking criminal records, and more.
Inspecting assets: If you are selling property or vehicle insurance, you are responsible for determining the value of the property or vehicle, looking for signs of previous damage, assessing possible policy risks, and determining the best available policy for your client.
The daily tasks of an insurance agent
While the primary duties listed above are the main tasks of an insurance agent, they only skim the surface of the work they do daily. While some tasks vary based on whether you are a captive or independent agent, the following is a list of possible tasks you can expect to perform daily, weekly, or monthly:
- Assist clients in the competition of insurance applications
- Ensure all paperwork is filled out and properly filed in order to put policies in place
- Customize insurance policies to meet your client’s needs
- Ensure all policy requirements are fulfilled
- Inspect properties to evaluate current conditions and decide on potential risk
- Cultivate relationships with new and existing clients
- Attend meetings, seminars, or programs given by insurance providers to explain new policy offerings
- Perform regular continuing education hours to maintain your licensing, as well as learn about new products and services
- Maintain bookkeeping, databases, and more
- Calculate premiums and establish payment methods
- Help process insurance claims
A typical day for an insurance agent
Every insurance agent is different, so a typical day for one agent may be completely different from another. While captive agents may have regular schedules, independent agents are more flexible and work around their clients. Here we give a glimpse into a typical day in the life of an insurance agent.
The morning typically starts with going through voicemails and emails from potential and existing clients with your morning coffee. Promptly responding to these emails and voicemails helps to build your relationship with clients. This is also a good time to confirm a later meeting with clients and plan the remainder of your day.
Mid-mornings are often a good time for client meetings. You may have meetings with new, potential clients where you work with them to determine the insurance coverage they need and which policies meet those needs and stay within their budget.
After lunch/early afternoon
After lunch is a good time to connect with existing clients about policies set to expire. This is a good time for agents to meet with their clients and determine if their needs have changed. Meeting with them in person allows you to evaluate their new needs and recommend possible policy alternatives. When meeting with these existing clients, it is also a good time to work on expanding your client base with lead referrals.
Mid to late afternoon is a good time to focus on other business obligations, including continuing educations requirements and attending product information seminars. It is also a good time to work on various marketing options to secure new leads, such as time set aside for updating and adding new blog posts, creating newsletter email campaigns that you can schedule with your insurance-specific CRM, or engaging with potential clients your social media platforms.
For many agents, the workday doesn’t end at 5:00. For many clients, the only time to schedule face-to-face meetings happens after their work hours, so many insurance agents meet with them in the early evening to evaluate their needs.
In addition, many networking groups and events designed to help you develop leads happen in the evening, after traditional work hours. These events offer a great opportunity to connect with other professionals in your area for networking, allowing you to share information about new products, discuss marketing ideas, sales techniques, and more. In many cases, these networking events are great for bringing in new, quality leads to help boost your sales.
Make the most of every day
As an agent, your day may look completely different than what we have shared here, but it will include the same key responsibilities. Because insurance agents have so many different tasks to complete every day, the key to success is finding ways to automate some of your key duties, leaving you more time to focus directly on your client’s needs.
The best way to do this is with a good CRM software for insurance brokers. A CRM allows you to automate everything from sale and marketing campaigns to policy renewals.
For more information about our insurance CRM software and how it can make a difference for your business, schedule a call at the button below.