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Why Independent Insurance Agents Need Multiple Products

Why Independent Insurance Agents Need Multiple Products

If you are thinking about becoming an independent insurance agent or if you have already embarked on this exciting career, you know that the day to day life of an insurance agent can be interesting and varied.

Most people are familiar with insurance agents who work with only one private insurance company, but an independent agent has much more control over his or her day to day schedule as a result of being able to handle policies offered by many different companies. Ultimately, independent insurance agents are able to work for themselves.

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Prepare Yourself For More Than One Product

In the insurance world you can think of an independent insurance agent as a freelancer. They may represent financial and insurance products from many different parent insurance companies. They often work with clients to ensure that the right policy is selected for the individual client’s needs.

It may be tempting to choose to focus on just one type of insurance policy when you first start out as an independent insurance agent. However, this can be a major mistake as it could limit your ability to connect clients with the solutions they need. Having a comprehensive portfolio of quality companies to work with allows you to present the most meaningful options to your clients.

It also allows you to answer more of their questions about different types of products. For example, if you are speaking to a client about a life insurance product, but they also have questions about health, your ability to manage these questions effectively as a result of your knowledge of the products in your portfolio further establishes you as a knowledgeable professional in the insurance industry.

Be THE Insurance Agent (Not An Order Taker)

Your clients will likely remember this when they have other insurance needs or when someone else asks for a reference on an insurance professional.

Being able to address your client’s individual needs gives you the opportunity to align your clients with products most suited to their life and allows you to earn more money and establish yourself as a more credible and knowledgeable insurance professional

Working with an insurance agency can streamline the process for you and ensure that you are working with some of the most reputable and stable companies in the insurance world.

In today’s busy world, clients enjoy partnering with one person who can help them with the majority of their insurance needs. Having a bigger portfolio and being able to problem solve for a broad range of clients has immediate and future benefits for a savvy insurance agent.

Working with the right insurance agency who can connect you with quality companies and insurance policy offerings can make your life easier and allow you to play the important role of problem solver with clients.

Key Takeaways In This Article

  • Independent agents have more control over their lives, products they offer, and revenue.
  • Captive agents are normally forced to sell one product that may not fit their clients exact needs.
  • Prepare to learn more than one product type as your master your sales techniques.
  • Helping your client with more than one product establishes professionalism and credibility.

Over to You

We'd love to hear your thoughts in the comments below on:

  1. Has a client ever asked you about a product and you simply turned them away? (instead of pointing them in the right direction).
  2. Have you ever been a captive agent, how was that experience?
  3. Have you sold multiple products in a home, what was the impact?

If you have any questions, please leave a comment below. We will carefully read each one of them. Happy Selling!

About the Author Matthew King

Matthew King is a co-owner of TR King Insurance Marketing and partner at Independent Life Insurance Agent Association. When he's not creating processes, content, and developing SEO strategies, he likes to immerse in gaming with his wife and friends.

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