An insurance agency, sometimes referred to as an insurance brokerage or independent brokerage firm, brokers, collects, writes and sells policies for a variety of insurance providers through a number of insurance agencies. They are never directly associated with any one insurance company. Rather, they are independent agents who are contracted by insurance providers to promote and sell their products and services.Do you want to learn more? Visit Insurance.
When you sign up with an insurance agency as an agent, you will be assigned to one of several different companies that they represent. Depending on the needs of your particular client, you will be responsible for working with the company that best suits your clients’ insurance needs. For example, if your clients need extensive coverage for automobile damage, they would likely require a company that specializes in commercial auto liability insurance, not the more general property damage liability insurance that most agents are used to dealing with. While there are many different types of policies and coverages which are offered through an insurance agency, the main business is represented by major insurance companies such as Allstate, Farmers Insurance, GEICO, Infinity, Nationwide, Farmers Insurance, and Nationwide Commercial.
Becoming a successful insurance agent or broker takes dedication, hard work, determination and a willingness to learn as much as possible about the insurance industry and the insurance business in general. Along with all of these traits, you will also need to have a strong personality that can adapt quickly to drastic changes in a business environment and a fastidious approach to paperwork. Many successful insurance agents become consultants, setting up independent insurance business or working for larger insurance companies after selling their first policy. However, you can become an insurance agency agent and broker without ever selling a single policy.