Tips for a Successful Career in the Insurance Industry

Tips for a Successful Career in the Insurance Industry
  • Opening Intro -

    As a student, it’s tough to find your vocational passion, especially if you don’t have extensive exposure to the available career paths.

    If you find yourself with a business, sales, or marketing degree, you should consider the insurance industry.

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The insurance world is all about protecting people from risk. Whether you operate in homeowner’s, medical malpractice, or automobile insurance, you’ll need a handful of foundational skills. Here are a few essential tips for a successful career in the insurance industry.

Focus On Sales

It’s common for those unfamiliar or new to the insurance industry to think of it as a risk prevention and emergency response agency. However, insurance brokers and agents are salespeople. In this line of work, you’ll engage customers and prospective insureds, trying to find ways to get them on board.

When you set up a policy with a newly insured person, you’ll set the limits for their protection. In this phase, you have the opportunity to upsell and increase limits to secure higher premiums that boost profits. Your goal is to sell as much insurance as possible, helping people see the risks around them.

Study the Industry

There are dozens and dozens of insurance types out there. Just as the world is full of highly specialized businesses and practices, there are incredibly specific insurance policies to fit these needs. It’s your job as an insurance professional to keep up with the industry. Spend time studying the habits and best practices of successful people in your space. The more you understand the career trajectory and growth strategies of industry leaders, the better you can apply those same principles to your vocation.

Insure Yourself

It may sound like mind-bending inception, but insurance agents actually need insurance for themselves. When you involve yourself with people’s professional and personal finances, you take a risk on yourself. Each insured person is a liability to you as a company—that’s why they pay premiums to cover your costs and risk.

However, it’s vital to remember that you need to protect your career, too. There are many reasons why errors and omissions insurance is important, but safeguarding your future is at the top of the list. The last thing you want is to enter your new field of interest after graduating college only to lose progress with an unhappy client who sues you or your business.

As a student in the trenches of your degree, you likely have a swirling array of career ideas floating around your thoughts. Reign in your dreams and put them down on paper. As you find your path, keep the insurance business in mind. Once you get started, you can use these tips for a successful career in the insurance industry to make a fireproof future. The more you invest in career planning now, the better your chances of a grounded and well-executed plan tomorrow.

image credit: Adobe Stock

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Categories: Career Planning

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