Insurance agent training – an obligation or something more?

Insurance agents have been obliged to improve their professional development in the dimension of min. 15 hours per year. The implemented trainings are an answer to specific issues specified & nbsp; in the annex to the Act. Their subject matter corresponds to the scope of activities performed by the agent. So is it just an obligation? & nbsp; Can we talk about something more? about expanding skills and improving professional practice?

obligation under the law.

Persons performing agency activities are obliged to improve their professional skills by completing a minimum of 15 hours of vocational training. The obligation should be carried out every year, & nbsp; in order to maintain the right to practice as an insurance agent. According to Art. 12 of the Act of December 15, 2017 on insurance distribution, the training obligation covers a person entered in the register of insurance intermediaries and each supporting the agent in the performance of distribution activities.

It is worth recalling that pursuant to Art. 12 of this Act, the obligation to complete vocational training arises on the first day of the calendar year following the year in which the person performing the agency activities was entered in the register of insurance intermediaries. Pursuant to the current regulations, the first vocational training should be completed no later than within 18 months from the date of entry into the register of insurance intermediaries of the person performing the agency activities.

Due to the failure to comply with the training obligation, the supervisory authority may:

• order to stop infringement of law and refrain from repealing it,
• withdraw the authorization to perform brokerage activities,
• Cross out from the register of agents of the insurance agent or the agent offering supplementary insurance.

Opportunity to develop and increase competitiveness.

On the one hand, training is an obligation, and on the other hand, an opportunity for development, broadening knowledge and access to new practices useful in everyday work.

The insurance market is very dynamic, the process of working with the client is variable and the reality and their expectations still raise the bar. Therefore, new practices or skills in the field of working with objections or building an image are very useful knowledge. Fulfilling the duty required by the regulator, the agent gains a more prestigious position, increasing its competitiveness. There is no doubt that the best way for an insurance agent to keep up with the changing insurance market is continuous education.

Relationship and knowledge-based sales are becoming more and more important nowadays. The foundations are competences and skills that we often reach for ourselves. Knowledge acquired in a traditional way is no longer enough. We are all aware that the progressive development of new technologies and the digitization of our lives require a change in the way we work, learn, establish relationships, sell and acquire new competences. An international survey conducted by PwC* in February 2021 gives a picture of the changes in the labor market, and in particular presents the attitude and perspectives of employees towards improving their skills.
Our commitment and willingness to participate in training organized by employers (42% vs. 30%) and free online courses are worth attention. The changing business environment, remote or hybrid form of work, the decisive advantage of working with the use of digital skills motivate us to improve qualifications and increase our professional attractiveness. 86% of us are ready to learn new things, raise qualifications and even change them to adapt to the changes taking place and keep them in the labor market.

It is not doubtful that the training is important in the work of the agent. The key is to choose the appropriate topic and the form of their implementation. It will depend on the right choices whether the obligation has been fulfilled or the training will bring practical skills used on a daily basis.

*PWC survey “Upskilling Hopes & amp; Fears 2021”