10 qualities of an ideal insurance advisor.

Are you planning a career as an insurance advisor? Maybe you work in this profession and you want to improve your competences and develop an expert position in your industry?

It is not particularly difficult to start practicing the profession of an insurance agent. All you need is willingness, a bit of effort and learning, and a passing license exam. Then – during the work, there are many options for training: voluntary training as well as the need for compulsory training in professional development, the so-called ID.

But are good intentions and enthusiasm enough? What are the key qualities and skills of an advisor?

Improving competences and constant professional development are opportunities for development. Just like the fulfillment of the obligation imposed by the principal through the act on compulsory professional development. Meanwhile, when planning your career in this profession, it is worth knowing the expectations of the market and the factors determining the success of an insurance advisor.

The image of an ideal agent emerges from the results of the research “Good Agent. Good Advisor” prepared by MetLife. The data indicates factors that determine the choice of the agent by customers. At the forefront we will find honesty and transparency in presenting the terms of the contract – an indication of 97% of respondents. Many more than half of the respondents consider this to be a key factor in cooperation with the selected agent.
Professional knowledge about finance and insurance also plays an important role, 94% of responses. The podium is closed by help in determining what insurance we need.

Less important turned out to be: a clear explanation of the terms of the contract and the importance of difficult concepts and the preparation of the best offer for the client. These are less important aspects, but still very important as they were indicated by nearly 90% of respondents. 

Such information is a valuable tip for representatives of the insurance industry.

Equally important, we live about times of highly progressive digitization. Since the beginning of 2020, many changes have been made to the insurance industry. in terms of customer acquisition, sales process, acceptance and signature of documents, but also policy handling. The procedures for starting the work of an insurance advisor have also changed. Online exams, documents in electronic form. We perform more and more activities via the Internet. Meanwhile, only 17% of respondents choose an insurance agent by electronic means. Friends’ recommendations dominate in this area. More than 60% of the survey participants decide to cooperate with a specific insurance advisor based on a positive opinion of a friend.   

Today, the agent is a conversation partner and advisor at the same time. Its role is to take care of the customer’s safety by choosing the right insurance product. protection of the client’s life, health and property. Its role is much wider and therefore requires special skills.

Some of them are regulated by law. However, a good agent is not only the one that meets the regulations and legal requirements. Its main goal is to acquire a customer, get to know his needs, present a tailored offer and conclude a policy. Properly performed tasks at every stage will make customers come back and recommend their advisor to their friends.

According to the previously mentioned study, customers in contact with an insurance agent expect honesty, individual approach and patience. trust, empathy and interest in their situation.

What qualities will be successful in the profession of an insurance advisor?

The ability to listen actively. It is known for a long time that listening and hearing is completely different. The work of an insurance agent largely focuses on asking questions, listening and learning about the client’s situation. This is the only way to get to know the real needs of the interlocutor. Listening skills can be learned, but the natural predispositions and willingness to get to know another person are very important. A sincere openness to the interlocutor is felt during the meeting. It allows you to build an individual relationship with the client.

Communicativeness. The profession of an insurance agent is mainly based on contact with people. Therefore, openness to conversation will be extremely important and useful. The ability to communicate, reach the client by asking questions and drawing the right conclusions. Because not the mere knowledge of insurance or product issues, but the ability to transfer this knowledge in an appropriate way, which is a response to the client’s needs, will lead to satisfaction on both sides.

Empathy. Openness to others, their situation and emotions are the key to building relationships. Thanks to it, we have a chance to empathize with the interlocutor’s situation by putting aside our own beliefs and opinions. An advisor who puts himself in the role of a listening partner, showing empathy has a much better chance of properly recognizing needs during a conversation with a client. 

Perfect organization. The work of an insurance advisor is an independent job. It requires excellent organization and self-discipline. Proper management of time and tasks through planning, setting goals and assigning them to them will result in short-term and long-term effects. We plan our own work and we must be aware of the consequences of our actions. There are matters that should be dealt with for “already”, but long-term activities such as acquiring customers, maintaining relationships with them or building a personal brand cannot be ignored. Only concentration and proper distribution of forces will result in good results, and they will be followed by a sense of fulfillment and satisfaction.

Proactivity. understood as independence and looking for solutions. Sometimes it can even reach the name of inquisitiveness, in this positive edition. A good insurance advisor instead of saying “I don’t know” can react to the problem and properly solve it. He is looking for information, thus deepening his knowledge. He does not wait for the supervisor’s order. shows initiative. Similarly, in terms of development or progressive digitization. participation in training or the use of technology that optimizes work. By showing activity in expanding its competences, it increases the level of its competitiveness on the market. An open mind and constant development of one’s competences is one of the overriding qualities of a modern advisor.

Ability to deal with stress. The multitude of tasks and accumulating responsibilities are a reality known to many advisers. Emails, phone calls, meetings. Working in the office and beyond it requires not only good time and logistics, sometimes even gymnastics. In such situations, it is worth showing your composure and skillfully dealing with tension and growing emotions. The ability to prioritize when there is time pressure is very helpful and allows you to organize your work efficiently.

Extensive product and market knowledge. The task of each agent is to choose the right solution for the client. Therefore, limited knowledge of products is not enough. We will obtain the image of a reliable agent by representing knowledge about a wide spectrum of possibilities that the customer can use. The substantive and specific argumentation will certainly be more convincing than scoring the list of benefits. The reference to the market situation and the prospects for its development is an additional plus.  

Meticulousness. Insurance means a large amount of documents. prints, important fields to be filled. Difficult wording and responsibility resulting from the marked fields. Because during a meeting and contracting the policy, it is “only” crosses on the document. In the future, however, they will be of great importance to the customer. Scrupulousness when filling them will allow you to avoid mistakes, save the client’s problems and unpleasant situations in relation to him.

Honesty. Ignorance is not a reason for embarrassment or criticism. Misleading the customer in its result is yes! Therefore, in difficult situations, when we are not sure of our knowledge, or we are aware that it is incomplete, it is worth supplementing the information and providing the client with the right one. Honesty pays off. Similarly, in the case of divergent beliefs. It is worth sharing your opinion with the client, if in our opinion a given solution is not suitable for him. This approach pays off and ensures customer loyalty.  

Responsiveness. Current contact allows you to build trust. The possibility of consultation in sudden, difficult situations gives a sense of security. Therefore, when establishing relationships with the client, it is worth taking care of his comfort. We can do it in an easy way: by answering phone calls, replying to e-mails so that it does not wait forever. By not allowing space for fears or doubts to appear, we can take care of peace and confidence on the part of the client. 

As you can see, the appropriate education and experience are helpful in selling insurance. However, it is the appropriate characteristics of the agent and his approach to the client that are crucial. Because it’s not about becoming an agent. High results, an extensive network of contacts and a portfolio of loyal customers are important. & nbsp; And then constant training, reacting to a changing market and regulations.