How to Become an Independent Insurance Agent

Going out on your own can seem scary, but it doesn’t need to be. Being an independent insurance agent has a lot of perks. Not only does it provide you freedom of choice in terms of which policies you can sell, but it also allows you to grow your business at your own pace. Read on for tips on how to become an independent insurance agent.

Or, if you’re ready to kickstart your new career today, contact our team at GLIA to learn more about your options as an independent insurance agent!

 

1. Decide What You Want to Sell

First, decide what type of insurance products you want to sell. Do you want to focus only on life insurance, auto insurance, or homeowners insurance? Do you want to integrate investment products along with the most common insurance products?

Knowing what products you want to offer can help direct the rest of the process when you’re becoming an independent insurance agent. It determines what education and licenses you need and also your target customer audience.

2. Get Your Licenses

Every state requires agents to have a license to sell insurance. The process and requirements involved vary by state. Remember to check the specific qualifications for your state and for which insurance products you want to sell.

Most states require a complete background check and a minimum of required hours in education courses. After, you must take and pass insurance tests before you can officially apply and receive your license.

3. Get Your Own Insurance

As a business owner, consider getting insurance that protects you. Depending on how you plan to operate, you might need building insurance, auto insurance, and errors and omissions insurance. All of these products help protect you as you work to protect your customers.

4. Develop a Business Plan

A detailed business plan is essential for anyone, no matter what industry they’re in. Business plans detail your goals and how you plan to achieve them. They also include plans for marketing and branding, customer attraction, retention, financial benchmarks, and realistic projections.

A solid business plan serves as a blueprint as you start your independent insurance business. It also helps you obtain financing from banks if you need capital to grow your business.

5. Partner with Insurance Companies

One of the main benefits of being an independent insurance agent is that you won’t be limited to one specific company’s products. To sell insurance products, though, you must set up contracts with insurance companies.

Start by reaching out to the insurance companies that you want to work with. Find out what their requirements are and see whether you qualify.

This is another area where your business plan will benefit you. Some insurance companies may ask to see your plan before approving you to sell their products.

6. Brand Yourself

It’s always a good idea to brand yourself before you have any clients. This gives you a more professional look, and your clients will feel more confident in your ability to handle their concerns.

Start by setting up a clean and impressive webpage and social media accounts. Post photos and blog posts on insurance topics to help position yourself as an expert in your field. By having this in place before marketing your services, you can give your target audience the information they need when they check you out.

7. Find Customers

Only after you’ve completed these steps is it time to attract customers. There are several different ways you can do this. You can purchase targeted advertising on search engines and social media platforms. You can do the same in more traditional media such as radio, TV, and local newspapers.

Consider partnering with local businesses so that you can spread the word about your services. You can also join local business organizations such as the chamber of commerce to network in the community.

Finally, you can purchase lead lists or have someone set up a lead funnel for you to reach potential customers.

8. Stay Compliant

Most states require insurance agents to remain compliant with licenses regularly. Again, each state has different requirements for how often this must be done.

When you get your license originally, it’s a good idea to mark your calendar and list what the rules for remaining compliant are so that you don’t forget.

Find Your Career Path with GLIA

Becoming an independent insurance agent can seem like an overwhelming process, but it doesn’t have to be. When you have a team of experts on your side, you can take this exciting next step in your career with ease and confidence.

If you want to become an independent insurance agent, contact GLIA today. We can’t wait to help you with this exciting new chapter in your life!