When you decide to have insurance, you may have heard the terms ‘broker’ and ‘agent’ tossed around. While being professionals, both insurance brokers and insurance agents act as intermediaries between insurance buyers and insurers. A Simple Definition of Insurance Brokers or Agents Insurance agents represent only one insurance company. Hence, they are often referred to as "captive" agents. Insurance brokers represent multiple insurance companies. Therefore, brokers are free to offer a broader range of products to their clients. The primary difference between an insurance broker and an insurance agent is who each represents. While a broker represents the insurance buyer, an agent represents one or more insurance companies. As now we are clear with the terms of both Insurance Brokers and Agents, so now let us have a look at the Qualities for both. #1 ENTREPRENEURIAL SPIRIT The entrepreneurial spirit, in combination with the desire to truly make an impact, are the driving forces behind the ability to grow and nurture long-term relationships with clients. Life insurance agents Denver see an opportunity, make a plan and undertake risk for the sake of possibility. Our agents are entrepreneurs who have a vision for small business success. #2 BUSINESS UNDERSTANDING The agents who can draw on their past business experiences have the right tools and skills to grow their little business dreams successfully. This can lead you to suitable growth and will help you in deciding a better plan. If you have a business and sales background and you’re ready to make a change, we’d like to talk to you! #3 PRODUCT KNOWLEDGE Depending on the type of insurance for sell, the agent/broker may offer a wide variety of complex products. To be a leading insurance agent, you’ll need to know the intricacies of every product you sell and offer enough products to cover all of your clients’ insurance needs. #4 SENSE OF URGENCY With insurance, helping protect your community isn’t always a nine to five job. The agent/broker must be there in times of need, both day and night. Successful agents know that selling insurance is more than just a job – it’s a lifestyle. They’re on-call and ready to go when their products and services are needed most. #5 ORGANIZED SKILLS Being organized with the details of your product helps you sell to the customer, but you need to maintain regular contact with your existing clients to get more referrals from them to make more sales and to ensure their needs are being met, mainly when they initiate claims.. As a well-organized agent, keep track of existing clients, stay alert for potential clients and remain aware of new policies available for all clients. #6 WILLINGNESS FOR CUSTOMER SERVICE Thriving agents know selling insurance products isn’t their only responsibility, but they also have to provide excellent customer service before, during, and after they close a sale. Responding to inquiries as quickly as possible and they consistently do what they say they will. #7 COMMUNICATION SKILLS Not just selling insurance is essential, but growing a good relationship within communities matters a lot! And it's the most crucial quality for a broker/ agent to have. Colorado Insurance Brokers, look for individuals with strong communication skills to navigate important life topics with their clients and to deliver the promise of continuing these conversations as needs change and evolve. #8 HONESTY Thriving insurance professionals are always honest with their clients. They respect their clients and know they’ll only earn referrals and repeat business by being open and accurate at all times. #9 PRIORITIZING THE CLIENT Being honest makes them earn more referrals, so to do this, they put their clients first. They talk to their clients and get to know them and their financial situation before they recommend a product. If a lower-cost product that provides the same benefits and comparable coverage is available for even their wealthiest clients, they’ll present it as an option without even thinking about the reduced commission they’ll receive. #10 FLEXIBILITY In any sales position, you’ll likely face rejection regularly. You will simply hear “no”, whereas successful insurance agents know one prospect’s refusal is simply a necessary step they must take to get closer to the next person who’ll say “yes.” They also know that saying is giving them a chance to revisit the subject of insurance with that person at a later time. CO Health Brokers is a full-service agency offering affordable, comprehensive insurance strategies for businesses. We aim to protect and give you affordable insurance to your and for loved ones. Also Read: What is a Term Life Insurance Plan and Why Should Buy it?
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