Whether you are a veteran sales executive or a new high school graduate just looking to become financially independent, becoming a licenced insurance agent in India has a lot to offer. Whatever you are seeking, whether it may be flexibility, growth potential, unlimited income potential, or meeting new and interesting people.
If that prospect excites you then you should consider becoming a certified insurance agent at a health insurance company. But who is an insurance agent health, what do they do, what are the eligibility criteria to become one, the steps it might entail, and what are some required skills? Keep reading to find out.
Who is an insurance agent?
An insurance agent is a licensed intermediary for an insurance provider responsible for generating new business and selling insurance policies directly to customers. As the reach of any organisation is limited, they incorporate individuals who fulfil a sales function to bring in new business and deal with existing customers.
This is where an insurance agent fulfils a sales function along with an advisory role to approach potential customers and guide them through the complicated process of choosing and purchasing an insurance policy.
What does an insurance agent health do?
A health insurance agent is a licensed operative who specialises in health insurance. They fulfil a similar function when compared to other agents but deal exclusively in health insurance.
Here are some of the roles and responsibilities an insurance agent health must fulfil:
- An agent is responsible for approaching a potential customer and understanding their needs and pain points.
- Using this information and considering the customer’s requirements they suggest relevant policies.
- They are also responsible for explaining policy details including terms and conditions and clarifying any doubts and queries the customer might have.
- After this, agents help in completing the pre-purchase process such as pre-policy check-ups, gathering of medical records, etc. and helping the customer purchase the policy.
What are the eligibility criteria to become an agent in India?
The insurance industry in India is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). They are a statutory body responsible for regulating and developing the insurance industry in India. The eligibility criteria to become an agent are also set up by the IRDAI. These requirements are not just simple, they require zero monetary investment from the applicant.
- The applicant needs to be at least 18 years old.
- The applicant must have completed their 10th or 12th depending on where they are from.
- The applicant must also have an Aadhar and PAN card.
Other than this, the applicant will also need to complete practical training and clear an exam to be eligible for the license, however, this can be done with the assistance of an insurance provider by following the given steps.
What are the steps to become a licensed agent?
Once you have fulfilled the three requirements, here are the steps you can follow to start your journey as a licensed insurance agent.
- Determine the type of insurance you would like to deal in. For aspirants looking to become an insurance agent health, the answer is health insurance.
- Once you have decided on the type of insurance, assess the insurance provider you would like to work for.
- Visit their website and fill out the recruitment portal to contact them.
- Complete your practical training with the insurer and prepare for the licensing exam.
- The next step is to attempt the examination and pass it to receive the license to sell policies.
- After this, all you need to do is sign a contract with the insurer to sell policies.
What are the skills associated with becoming a successful agent in insurance?
While becoming a licensed agent is quite simple, aspiring agents who are looking to succeed also need to develop certain skills. These skills are sought after by both the insurer and the customers and can be the difference between success and fizzling out as an agent.
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Communication skills
Being a sales role, an agent in insurance must be a good listener and an efficient communicator. This is important when dealing with customers with diverse needs and varying backgrounds.
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Product knowledge
One of the most important responsibilities of an agent is to have in-depth knowledge of the products and services they are offering. This will help in efficient communication, explaining policy details, and genuinely helping the customer.
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Customer-first approach
An agent must have a customer-first attitude and genuinely wish the best for the customer to build a long-term relationship with them. Letting go of short-term profits and building a valuable relationship with the customer can ensure long-term connection and repeat business.
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Persistence
As a salesperson, an agent might face constant rejections and may feel down due to not being able to sell any policies. However, with due time and patience, anyone can become a successful agent which requires persistence.
Conclusion
Whether you are looking to enter the insurance industry as a way to earn extra money on the side or as a full-time career option, becoming an agent is a highly lucrative career option for many. By keeping in mind the above-stated eligibility criteria, the process required to become an agent as well as the necessary skills to succeed as one, you can start your insurance career on the right foot.
So become an agent and crack the code for unmatched flexibility, unlimited income potential and high growth with leading insurance providers like Niva Bupa Health Insurance.
