Insurance agents can be divided into two sub-categories, Brokers (the ones that work for independent insurance brokerages selling policies for a number of insurance companies) and Non-Brokers (the ones that work specifically for a single insurance company, also called captive agents). About 56% of all insurance agents work as brokers, this number is expected to rise as most insurance companies are finding it more economical to hire out brokerages rather than employing their own agents.
Agents spent the majority of their time working in offices or travelling to meet with a client. The majority of agents work on their own schedule. Because a major part of the job is ensuring that clients remain content with the services provided lots of agents will end up work evenings and weekends because this is typically the most convenient time to meet with clients. When agents are not meeting with clients they are usually working in a cubical or office preparing a presentations for meetings they have scheduled later in the week.
Almost all agents will work full time (40 hours per week), most will work more. An agent’s duties normally include the following:
- Calling potential costomers in order to expand their customer base.
- Interview existing clients to gather data about their financial situation and discuss coverage plans.
- Explaining the features of various plans to clients.
- Analyze a client’s plan and make revisions.
- Customize plans to suit individual situations.
- General administration (keeping record files).
- Help policyholders to settle claims.
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