Building an independent insurance agency can be a rewarding venture, but like all endeavors, it comes with certain challenges that can overwhelm anyone that’s starting from the ground up. You might have many questions regarding which licenses are necessary, where to open your office, and how to find and contract with insurance carriers to represent.The good news is that help is available – and, once your agency is up and running, even though with some hitches along the way, you will also have the opportunity to pursue a long list of rewards, such as the ability to control your business, a nice return on owner’s equity, and being able to open up your product offerings to a wide range of options – which in turn, will place you in a better position to help your clients.
There is a misconception among unmarried individuals that without any dependents, it’s okay to put life insurance in the back burner.
In the absence of family members who may be significantly impacted by their sudden loss, single individuals may feel that there’s no need to engage in advanced financial or estate planning to mitigate the risks. Some people, on the other hand, refuse to think of what life insurance is protecting them from: illness, fire, liability, and even death.As an insurance agent, you know that regardless of your client’s demographic, life insurance can mitigate the damage they’ll experience in the occurrence of such events. The problem is, even if you have a no-fail approach that works for couples and clients with families, dealing with unmarried clients is a unique challenge altogether.
Various industries are adapting to the current digital revolution and embracing digital concepts to streamline their business operations — including the insurance industry.Although the insurance industry has fallen behind in accepting digital best practices in the last few years, it is now finally catching up. More insurance carriers and insurance marketing organizations are adopting digital platforms each day. Data analytics and new technology enable the insurance industry to improve its processes, develop new business models, and transform the competitive landscape.
From retail to real estate, technology makes a diverse range of industries more accessible to consumers. Artificial intelligence is even expected to boost retail profitability by up to 60 percent. So, why should health insurance be any different? More consumers are searching online for your insurance products every year, so what’s stopping you from going digital?
There’s so much opportunity for insurance agents to begin making money selling Medicare policies. Pew Research estimates that 18 percent of the US population will be at least age 65 by 2030. With about 10,000 Baby Boomers turning 65 every day for years to come, it is evident that the market for Medicare will continue its fantastic growth for the foreseeable future.
Whether, you are a tenured insurance agent looking to begin selling Medicare plans or supplements or a novice who wants to get started, remember that the Medicare market is open to insurance professionals coming from all backgrounds.New to the Medicare market? Here’s a comprehensive guide to get you up to speed with selling Medicare.